Franklin Resources Inc. Has $1.17 Million Holdings in Proto Labs, Inc. (NYSE:PRLB)

Franklin Resources Inc. lifted its stake in shares of Proto Labs, Inc. (NYSE:PRLB - Free Report) by 130.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,992 shares of the industrial products company's stock after purchasing an additional 17,003 shares during the period. Franklin Resources Inc. owned approximately 0.12% of Proto Labs worth $1,172,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. FMR LLC lifted its stake in Proto Labs by 23.4% during the third quarter. FMR LLC now owns 29,474 shares of the industrial products company's stock valued at $866,000 after buying an additional 5,584 shares in the last quarter. State Street Corp lifted its position in shares of Proto Labs by 1.4% in the 3rd quarter. State Street Corp now owns 965,426 shares of the industrial products company's stock valued at $28,355,000 after acquiring an additional 13,554 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Proto Labs by 107.4% during the 3rd 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 during the last quarter. Y Intercept Hong Kong Ltd raised its holdings in shares of Proto Labs by 22.2% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 12,946 shares of the industrial products company's stock valued at $380,000 after purchasing an additional 2,356 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Proto Labs by 66.4% in the 3rd quarter. Barclays PLC now owns 42,633 shares of the industrial products company's stock valued at $1,252,000 after purchasing an additional 17,017 shares during the last quarter. 84.54% of the stock is owned by hedge funds and other institutional investors.

Proto Labs Price Performance

Shares of PRLB traded down $0.16 on Friday, reaching $33.25. 953,508 shares of the stock traded hands, compared to its average volume of 231,459. The firm has a market cap of $790.27 million, a price-to-earnings ratio of 51.15 and a beta of 1.52. Proto Labs, Inc. has a 12 month low of $25.76 and a 12 month high of $46.73. The stock's 50-day moving average price is $37.20 and its 200-day moving average price is $37.48.

Proto Labs announced that its Board of Directors has authorized a stock repurchase plan on Friday, February 7th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 9.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

PRLB has been the topic of a number of recent analyst reports. StockNews.com raised Proto Labs from a "buy" rating to a "strong-buy" rating in a research note on Wednesday. Needham & Company LLC restated a "hold" rating on shares of Proto Labs in a research note on Friday, February 7th. Finally, Cantor Fitzgerald raised their target price on Proto Labs from $40.00 to $50.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Proto Labs presently has a consensus rating of "Moderate Buy" and an average target price of $43.67.

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.