Proto Labs, Inc. (NYSE:PRLB) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in shares of Proto Labs, Inc. (NYSE:PRLB - Free Report) by 93.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,890 shares of the industrial products company's stock after buying an additional 67,449 shares during the quarter. JPMorgan Chase & Co. owned 0.57% of Proto Labs worth $4,109,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new position in Proto Labs in the 2nd quarter worth approximately $37,000. KBC Group NV lifted its position in shares of Proto Labs by 69.3% during the third quarter. KBC Group NV now owns 1,541 shares of the industrial products company's stock worth $45,000 after purchasing an additional 631 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of 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 period. Meeder Asset Management Inc. grew its holdings in Proto Labs by 72.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 4,465 shares of the industrial products company's stock valued at $131,000 after purchasing an additional 1,873 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in Proto Labs during the 3rd quarter valued at $201,000. Institutional investors and hedge funds own 84.54% of the company's stock.

Proto Labs Stock Performance

Shares of Proto Labs stock traded down $0.48 during trading on Friday, reaching $38.47. The company had a trading volume of 651,905 shares, compared to its average volume of 234,923. Proto Labs, Inc. has a fifty-two week low of $25.75 and a fifty-two week high of $45.15. The firm's fifty day moving average is $40.15 and its 200-day moving average is $33.76. The company has a market cap of $942.85 million, a price-to-earnings ratio of 40.92 and a beta of 1.45.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PRLB. Cantor Fitzgerald reiterated 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 reissued a "hold" rating on shares of Proto Labs in a report on Thursday. Finally, Craig Hallum raised their price objective on Proto Labs from $30.00 to $36.00 and gave the company a "hold" rating in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $40.33.

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.