Nordea Investment Management AB Buys 105,813 Shares of Proto Labs, Inc. (NYSE:PRLB)

Nordea Investment Management AB boosted its stake in shares of Proto Labs, Inc. (NYSE:PRLB - Free Report) by 76.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 244,987 shares of the industrial products company's stock after purchasing an additional 105,813 shares during the period. Nordea Investment Management AB owned about 1.00% of Proto Labs worth $9,711,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Modus Advisors LLC bought a new position in shares of Proto Labs during the 4th quarter valued at $87,000. JPMorgan Chase & Co. lifted its holdings in Proto Labs by 93.1% in the third quarter. JPMorgan Chase & Co. now owns 139,890 shares of the industrial products company's stock valued at $4,109,000 after acquiring an additional 67,449 shares during the period. Franklin Resources Inc. boosted its position in Proto Labs by 8.2% in the third quarter. Franklin Resources Inc. now owns 12,989 shares of the industrial products company's stock worth $370,000 after purchasing an additional 980 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Proto Labs by 1.7% during the 3rd quarter. Tidal Investments LLC now owns 30,156 shares of the industrial products company's stock valued at $886,000 after purchasing an additional 494 shares during the period. Finally, Barclays PLC increased its position in shares of Proto Labs by 66.4% during 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. Hedge funds and other institutional investors own 84.54% of the company's stock.

Proto Labs Trading Down 2.7 %

Proto Labs stock traded down $1.03 during midday trading on Friday, hitting $36.59. The stock had a trading volume of 185,689 shares, compared to its average volume of 135,431. Proto Labs, Inc. has a 52-week low of $25.75 and a 52-week high of $45.15. The company has a market capitalization of $896.82 million, a PE ratio of 38.93 and a beta of 1.45. The firm's fifty day moving average is $40.12 and its two-hundred day moving average is $33.45.

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

Analysts Set New Price Targets

PRLB has been the topic of a number of research reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $40.00 price objective on shares of Proto Labs in a report on Monday, November 4th. Needham & Company LLC reiterated a "hold" rating on shares of Proto Labs in a research note on Friday, November 1st. Finally, Craig Hallum upped their price objective on Proto Labs from $30.00 to $36.00 and gave the stock a "hold" rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $40.33.

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.