Bailard Inc. decreased its holdings in Proto Labs, Inc. (NYSE:PRLB – Free Report) by 6.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,200 shares of the industrial products company’s stock after selling 1,100 shares during the period. Bailard Inc. owned approximately 0.07% of Proto Labs worth $649,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. Wellington Management Group LLP boosted its stake in Proto Labs by 97.4% in the first quarter. Wellington Management Group LLP now owns 711,738 shares of the industrial products company’s stock valued at $24,939,000 after buying an additional 351,097 shares in the last quarter. S Squared Technology LLC boosted its stake in shares of Proto Labs by 1.3% in the 2nd quarter. S Squared Technology LLC now owns 311,103 shares of the industrial products company’s stock valued at $12,457,000 after purchasing an additional 4,100 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Proto Labs by 0.6% in the 2nd quarter. Nordea Investment Management AB now owns 249,584 shares of the industrial products company’s stock valued at $9,986,000 after purchasing an additional 1,427 shares in the last quarter. Jupiter Asset Management Ltd. grew its holdings in shares of Proto Labs by 3.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 194,832 shares of the industrial products company’s stock valued at $7,801,000 after purchasing an additional 6,921 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Proto Labs by 14.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 153,042 shares of the industrial products company’s stock worth $5,363,000 after purchasing an additional 19,441 shares in the last quarter. 84.54% of the stock is currently owned by institutional investors.
Proto Labs Stock Performance
PRLB stock opened at $48.43 on Friday. The company has a market capitalization of $1.15 billion, a P/E ratio of 80.72 and a beta of 1.23. The company has a fifty day moving average price of $50.78 and a 200-day moving average price of $44.83. Proto Labs, Inc. has a 52-week low of $29.58 and a 52-week high of $55.90.
Wall Street Analysts Forecast Growth
PRLB has been the subject of several research reports. Zacks Research raised shares of Proto Labs from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. Cantor Fitzgerald upped their price target on shares of Proto Labs from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Wall Street Zen upgraded Proto Labs from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 2nd. Craig Hallum raised Proto Labs from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Friday, August 1st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Proto Labs in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Proto Labs currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.33.
Check Out Our Latest Analysis on PRLB
Proto Labs 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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