Proto Labs, Inc. (NYSE:PRLB) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP lifted its position in Proto Labs, Inc. (NYSE:PRLB - Free Report) by 71.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 738,576 shares of the industrial products company's stock after purchasing an additional 308,970 shares during the period. First Trust Advisors LP owned 3.01% of Proto Labs worth $28,871,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Proto Labs by 0.7% during the third quarter. Geode Capital Management LLC now owns 585,809 shares of the industrial products company's stock worth $17,209,000 after buying an additional 4,285 shares during the period. Renaissance Technologies LLC lifted its holdings in Proto Labs by 2.7% during the fourth quarter. Renaissance Technologies LLC now owns 571,851 shares of the industrial products company's stock worth $22,354,000 after buying an additional 15,000 shares during the period. S Squared Technology LLC lifted its holdings in Proto Labs by 5.1% during the fourth quarter. S Squared Technology LLC now owns 307,003 shares of the industrial products company's stock worth $12,001,000 after buying an additional 15,000 shares during the period. Nordea Investment Management AB lifted its holdings in Proto Labs by 76.0% during the fourth quarter. Nordea Investment Management AB now owns 244,987 shares of the industrial products company's stock worth $9,711,000 after buying an additional 105,813 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Proto Labs by 348.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 212,914 shares of the industrial products company's stock worth $8,323,000 after buying an additional 165,396 shares during the period. Hedge funds and other institutional investors own 84.54% of the company's stock.

Proto Labs Trading Down 0.0 %

Shares of PRLB stock traded down $0.00 during trading hours on Tuesday, reaching $35.39. 100,517 shares of the company's stock were exchanged, compared to its average volume of 232,440. The stock's 50 day moving average is $36.00 and its 200-day moving average is $37.72. The company has a market cap of $841.18 million, a price-to-earnings ratio of 54.44 and a beta of 1.52. Proto Labs, Inc. has a fifty-two week low of $25.76 and a fifty-two week high of $46.73.

Proto Labs declared that its Board of Directors has initiated 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 reacquire 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.

Analyst Ratings Changes

A number of analysts have weighed in on PRLB shares. StockNews.com lowered Proto Labs from a "strong-buy" rating to a "buy" rating in a report on Thursday, April 24th. Cantor Fitzgerald upped their price target on Proto Labs from $40.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Proto Labs in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.67.

Proto Labs Company 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.