Proto Labs, Inc. (NYSE:PRLB) Stock Holdings Boosted by Meeder Asset Management Inc.

Meeder Asset Management Inc. grew its holdings in Proto Labs, Inc. (NYSE:PRLB - Free Report) by 192.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,036 shares of the industrial products company's stock after acquiring an additional 8,571 shares during the period. Meeder Asset Management Inc. owned about 0.05% of Proto Labs worth $510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC purchased a new position in shares of Proto Labs in the third quarter valued at $232,000. FMR LLC grew its stake in shares of 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 acquiring an additional 5,584 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Proto Labs by 4.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,189 shares of the industrial products company's stock worth $2,355,000 after acquiring an additional 3,247 shares during the last quarter. Verition Fund Management LLC lifted its stake in shares of Proto Labs by 27.1% in the third quarter. Verition Fund Management LLC now owns 13,118 shares of the industrial products company's stock worth $385,000 after acquiring an additional 2,800 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in Proto Labs by 40.6% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,108 shares of the industrial products company's stock valued at $121,000 after purchasing an additional 1,186 shares during the last quarter. Institutional investors and hedge funds own 84.54% of the company's stock.

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Wall Street Analyst Weigh In

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

Proto Labs Stock Down 5.0 %

NYSE:PRLB traded down $1.65 during trading hours on Friday, reaching $31.62. 261,189 shares of the stock were exchanged, compared to its average volume of 223,680. The stock has a market capitalization of $766.32 million, a P/E ratio of 48.65 and a beta of 1.45. Proto Labs, Inc. has a 52 week low of $25.76 and a 52 week high of $46.73. The firm has a 50 day simple moving average of $39.33 and a 200-day simple moving average of $37.11.

Proto Labs announced that its board has authorized a stock repurchase program 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 buy up to 9.8% of its stock through open market purchases. Stock buyback programs are typically an indication 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.