Assenagon Asset Management S.A. lifted its holdings in Proto Labs, Inc. (NYSE:PRLB - Free Report) by 22.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 299,848 shares of the industrial products company's stock after acquiring an additional 55,932 shares during the period. Assenagon Asset Management S.A. owned approximately 1.19% of Proto Labs worth $8,807,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Disciplined Growth Investors Inc. MN boosted its holdings in Proto Labs by 1.9% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,946,349 shares of the industrial products company's stock worth $60,123,000 after acquiring an additional 36,510 shares during the period. Meros Investment Management LP boosted its stake in shares of Proto Labs by 1.6% in the second quarter. Meros Investment Management LP now owns 139,816 shares of the industrial products company's stock valued at $4,319,000 after purchasing an additional 2,252 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in shares of Proto Labs in the second quarter valued at $591,000. AQR Capital Management LLC increased its stake in Proto Labs by 75.2% during the 2nd quarter. AQR Capital Management LLC now owns 35,489 shares of the industrial products company's stock worth $1,096,000 after buying an additional 15,230 shares during the period. Finally, Caxton Associates LP lifted its holdings in Proto Labs by 53.6% in the 2nd quarter. Caxton Associates LP now owns 13,809 shares of the industrial products company's stock worth $427,000 after buying an additional 4,816 shares in the last quarter. Hedge funds and other institutional investors own 84.54% of the company's stock.
Insider Transactions at Proto Labs
In other Proto Labs news, CEO Robert Bodor acquired 3,480 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $28.68 per share, with a total value of $99,806.40. Following the transaction, the chief executive officer now directly owns 80,878 shares in the company, valued at approximately $2,319,581.04. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.20% of the company's stock.
Proto Labs Price Performance
NYSE:PRLB traded up $0.05 during mid-day trading on Tuesday, reaching $27.49. The stock had a trading volume of 158,153 shares, compared to its average volume of 183,866. The company has a market capitalization of $691.37 million, a price-to-earnings ratio of 28.69 and a beta of 1.31. Proto Labs, Inc. has a 1-year low of $23.03 and a 1-year high of $41.87. The stock's 50 day simple moving average is $28.99 and its two-hundred day simple moving average is $30.48.
Proto Labs (NYSE:PRLB - Get Free Report) last issued its earnings results on Friday, August 2nd. The industrial products company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.35 by $0.03. The company had revenue of $125.60 million during the quarter, compared to analyst estimates of $126.25 million. Proto Labs had a return on equity of 3.60% and a net margin of 4.86%. The business's revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) EPS. Sell-side analysts anticipate that Proto Labs, Inc. will post 0.7 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on PRLB shares. StockNews.com lowered Proto Labs from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 5th. Needham & Company LLC restated a "hold" rating on shares of Proto Labs in a report on Monday, August 5th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $44.00 target price on shares of Proto Labs in a research note on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $41.00.
Check Out Our Latest Stock Analysis on Proto Labs
Proto Labs Profile
(
Free Report)
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.
Featured Articles
Before you consider Proto Labs, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Proto Labs wasn't on the list.
While Proto Labs currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
