Assenagon Asset Management S.A. Has $4.33 Million Stock Position in Proto Labs, Inc. (NYSE:PRLB)

Assenagon Asset Management S.A. lessened its holdings in shares of Proto Labs, Inc. (NYSE:PRLB - Free Report) by 63.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,660 shares of the industrial products company's stock after selling 189,188 shares during the period. Assenagon Asset Management S.A. owned 0.45% of Proto Labs worth $4,326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Diversified Trust Co grew its position in Proto Labs by 13.9% in the fourth quarter. Diversified Trust Co now owns 9,236 shares of the industrial products company's stock worth $361,000 after buying an additional 1,125 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Proto Labs by 76.0% in the 4th quarter. Nordea Investment Management AB now owns 244,987 shares of the industrial products company's stock valued at $9,711,000 after purchasing an additional 105,813 shares during the period. Modus Advisors LLC acquired a new stake in shares of Proto Labs during the fourth quarter worth approximately $87,000. JPMorgan Chase & Co. lifted its position in Proto Labs by 93.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 139,890 shares of the industrial products company's stock worth $4,109,000 after buying an additional 67,449 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Proto Labs by 8.2% during the 3rd quarter. Franklin Resources Inc. now owns 12,989 shares of the industrial products company's stock valued at $370,000 after acquiring an additional 980 shares in the last quarter. Institutional investors own 84.54% of the company's stock.

Proto Labs Trading Up 4.0 %

Proto Labs stock traded up $1.54 during trading hours on Tuesday, reaching $40.08. 64,714 shares of the company were exchanged, compared to its average volume of 193,818. Proto Labs, Inc. has a 12 month low of $25.75 and a 12 month high of $45.15. The firm has a market cap of $982.24 million, a price-to-earnings ratio of 42.63 and a beta of 1.45. The stock has a 50-day moving average of $40.13 and a 200 day moving average of $33.86.

Proto Labs (NYSE:PRLB - Get Free Report) last posted its earnings results on Friday, November 1st. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.15. Proto Labs had a net margin of 4.76% and a return on equity of 3.49%. The business had revenue of $125.60 million for the quarter, compared to analyst estimates of $121.38 million. During the same period last year, the business posted $0.31 EPS. Proto Labs's revenue was down 3.9% compared to the same quarter last year. As a group, research analysts forecast that Proto Labs, Inc. will post 0.84 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Proto Labs in a research report on Thursday, January 16th. Cantor Fitzgerald reissued an "overweight" rating and issued a $40.00 target price on shares of Proto Labs in a research report on Monday, November 4th. Finally, Craig Hallum raised their price target on shares of Proto Labs from $30.00 to $36.00 and gave the company a "hold" rating in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $40.33.

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.