ExodusPoint Capital Management LP Purchases Shares of 41,827 Proto Labs, Inc. (NYSE:PRLB)

ExodusPoint Capital Management LP acquired a new position in Proto Labs, Inc. (NYSE:PRLB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 41,827 shares of the industrial products company's stock, valued at approximately $1,635,000. ExodusPoint Capital Management LP owned 0.17% of Proto Labs at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Modus Advisors LLC acquired a new position in Proto Labs in the fourth quarter valued at $87,000. KLP Kapitalforvaltning AS acquired a new stake in Proto Labs in the fourth quarter worth $192,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Proto Labs during the fourth quarter valued at about $205,000. LPL Financial LLC bought a new position in shares of Proto Labs during the 4th quarter worth about $210,000. Finally, Versor Investments LP acquired a new stake in shares of Proto Labs in the 4th quarter valued at about $235,000. Institutional investors and hedge funds own 84.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PRLB. Cantor Fitzgerald raised their price objective on Proto Labs from $40.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Needham & Company LLC restated a "hold" rating on shares of Proto Labs in a report on Friday, February 7th. Finally, StockNews.com downgraded Proto Labs from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $43.67.

Proto Labs Price Performance

Shares of NYSE:PRLB traded down $0.07 on Monday, hitting $34.60. The company's stock had a trading volume of 11,359 shares, compared to its average volume of 225,108. Proto Labs, Inc. has a 1 year low of $25.76 and a 1 year high of $46.73. The company has a market capitalization of $838.46 million, a PE ratio of 53.23 and a beta of 1.52. The company has a 50-day simple moving average of $38.14 and a 200 day simple moving average of $37.30.

Proto Labs announced that its board has authorized a share buyback program on Friday, February 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the industrial products company to buy up to 9.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is 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.