Connor Clark & Lunn Investment Management Ltd. Acquires 46,866 Shares of Proto Labs, Inc. (NYSE:PRLB)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Proto Labs, Inc. (NYSE:PRLB - Free Report) by 217.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,403 shares of the industrial products company's stock after acquiring an additional 46,866 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.27% of Proto Labs worth $2,009,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRLB. Sei Investments Co. raised its position in shares of Proto Labs by 141.7% during the first quarter. Sei Investments Co. now owns 14,311 shares of the industrial products company's stock valued at $512,000 after buying an additional 8,390 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Proto Labs by 58.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 11,969 shares of the industrial products company's stock valued at $397,000 after buying an additional 4,410 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Proto Labs by 2.0% during the first quarter. Vanguard Group Inc. now owns 2,980,157 shares of the industrial products company's stock valued at $106,541,000 after buying an additional 57,894 shares during the last quarter. Shell Asset Management Co. bought a new stake in shares of Proto Labs during the first quarter valued at approximately $132,000. Finally, QRG Capital Management Inc. raised its position in shares of Proto Labs by 12.5% during the second quarter. QRG Capital Management Inc. now owns 32,644 shares of the industrial products company's stock valued at $1,008,000 after buying an additional 3,624 shares during the last quarter. Institutional investors own 84.54% of the company's stock.

Insiders Place Their Bets

In other Proto Labs news, CEO Robert Bodor bought 3,480 shares of the firm's stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $28.68 per share, for a total transaction of $99,806.40. Following the completion of the transaction, the chief executive officer now owns 80,878 shares in the company, valued at $2,319,581.04. This trade represents a 4.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $40.00 price objective on shares of Proto Labs in a research report on Monday, November 4th. Needham & Company LLC reissued a "hold" rating on shares of Proto Labs in a report on Friday, November 1st. Craig Hallum raised their target price 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. Finally, StockNews.com lowered shares of Proto Labs from a "strong-buy" rating to a "buy" rating in a report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.33.

Proto Labs Stock Performance

NYSE PRLB traded down $0.01 on Tuesday, hitting $41.11. 245,130 shares of the stock were exchanged, compared to its average volume of 201,982. The stock has a fifty day moving average price of $31.84 and a two-hundred day moving average price of $31.23. The firm has a market capitalization of $1.01 billion, a P/E ratio of 43.62 and a beta of 1.32. Proto Labs, Inc. has a 52-week low of $25.75 and a 52-week high of $42.66.

Proto Labs (NYSE:PRLB - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The industrial products company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.32 by $0.15. The company had revenue of $125.60 million during the quarter, compared to analyst estimates of $121.38 million. Proto Labs had a net margin of 4.76% and a return on equity of 3.49%. Proto Labs's quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 earnings per share. Sell-side analysts expect that Proto Labs, Inc. will post 0.84 earnings per share for the current fiscal year.

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.