Tidal Investments LLC increased its position in Proto Labs, Inc. (NYSE:PRLB – Free Report) by 1.7% in the third quarter, Holdings Channel reports. The firm owned 30,156 shares of the industrial products company’s stock after purchasing an additional 494 shares during the quarter. Tidal Investments LLC’s holdings in Proto Labs were worth $886,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bailard Inc. acquired a new position in Proto Labs in the second quarter worth $405,000. Panagora Asset Management Inc. boosted its holdings in shares of Proto Labs by 4.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 168,033 shares of the industrial products company’s stock valued at $5,191,000 after buying an additional 6,469 shares during the period. Innealta Capital LLC acquired a new position in shares of Proto Labs in the 2nd quarter valued at about $40,000. Quest Partners LLC grew its position in shares of Proto Labs by 146.5% during the 2nd quarter. Quest Partners LLC now owns 30,403 shares of the industrial products company’s stock valued at $939,000 after buying an additional 18,068 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Proto Labs by 1.9% during the second quarter. American Century Companies Inc. now owns 42,931 shares of the industrial products company’s stock worth $1,326,000 after acquiring an additional 812 shares during the period. 84.54% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
PRLB has been the subject of a number of research reports. Craig Hallum upped their target price on Proto Labs from $30.00 to $36.00 and gave the company a “hold” rating in a report on Monday, November 4th. Needham & Company LLC restated a “hold” rating on shares of Proto Labs in a research report on Friday, November 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 target price on shares of Proto Labs in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.33.
Proto Labs Trading Down 1.3 %
Shares of NYSE:PRLB opened at $40.72 on Friday. The firm’s 50 day moving average is $36.74 and its two-hundred day moving average is $32.59. The firm has a market capitalization of $998.05 million, a P/E ratio of 43.32 and a beta of 1.45. Proto Labs, Inc. has a 52 week low of $25.75 and a 52 week high of $45.15.
Proto Labs (NYSE:PRLB – Get Free Report) last posted its earnings results on Friday, November 1st. The industrial products company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.32 by $0.15. Proto Labs had a return on equity of 3.49% and a net margin of 4.76%. The firm had revenue of $125.60 million for the quarter, compared to analysts’ expectations of $121.38 million. During the same period last year, the firm earned $0.31 EPS. The firm’s revenue was down 3.9% compared to the same quarter last year. Analysts predict that Proto Labs, Inc. will post 0.84 EPS for the current year.
Proto Labs Company Profile
Proto Labs, Inc, together with its subsidiaries, operates as a digital manufacturer of custom parts in the United States and Europe. The company offers injection molding; computer numerical control machining; three-dimensional printing; and sheet metal fabrication products. It serves developers and engineers, who use 3D computer-aided design software to design products across a range of end-markets.
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