Proto Labs, Inc. (NYSE:PRLB) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its holdings in shares of Proto Labs, Inc. (NYSE:PRLB - Free Report) by 12.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 289,345 shares of the industrial products company's stock after selling 41,453 shares during the period. Charles Schwab Investment Management Inc. owned 1.18% of Proto Labs worth $11,310,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Proto Labs by 1.4% during the 3rd quarter. State Street Corp now owns 965,426 shares of the industrial products company's stock worth $28,355,000 after acquiring an additional 13,554 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Proto Labs during the third quarter worth $753,000. Jane Street Group LLC increased its position in shares of Proto Labs by 107.4% during the third quarter. Jane Street Group LLC now owns 97,623 shares of the industrial products company's stock worth $2,867,000 after purchasing an additional 50,556 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Proto Labs by 544.3% during the 4th quarter. Empowered Funds LLC now owns 95,359 shares of the industrial products company's stock valued at $3,728,000 after purchasing an additional 80,558 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of 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 purchasing an additional 67,449 shares in the last quarter. Institutional investors own 84.54% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Proto Labs in a research report on Friday, February 7th. Cantor Fitzgerald lifted their price objective on shares of Proto Labs from $40.00 to $50.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Finally, StockNews.com raised Proto Labs from a "buy" rating to a "strong-buy" rating in a research report on Friday, March 7th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $43.67.

Proto Labs Stock Up 0.4 %

Shares of NYSE:PRLB traded up $0.15 during midday trading on Tuesday, reaching $37.17. The company's stock had a trading volume of 132,353 shares, compared to its average volume of 209,442. The stock has a fifty day moving average of $40.00 and a 200 day moving average of $36.76. Proto Labs, Inc. has a twelve month low of $25.76 and a twelve month high of $46.73. The firm has a market capitalization of $900.74 million, a PE ratio of 57.19 and a beta of 1.45.

Proto Labs announced that its Board of Directors has approved a share repurchase program on Friday, February 7th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 9.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

About Proto Labs

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.