Dynamic Technology Lab Private Ltd Has $217,000 Position in Proto Labs, Inc. (NYSE:PRLB)

Dynamic Technology Lab Private Ltd lessened its holdings in shares of Proto Labs, Inc. (NYSE:PRLB - Free Report) by 78.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,540 shares of the industrial products company's stock after selling 20,112 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Proto Labs were worth $217,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Modus Advisors LLC acquired a new stake in shares of Proto Labs in the 4th quarter valued at about $87,000. KLP Kapitalforvaltning AS acquired a new position in Proto Labs during the 4th quarter worth approximately $192,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Proto Labs during the 4th quarter worth approximately $205,000. LPL Financial LLC acquired a new stake in shares of Proto Labs in the fourth quarter valued at approximately $210,000. Finally, Versor Investments LP bought a new stake in shares of Proto Labs in the fourth quarter worth $235,000. 84.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PRLB has been the topic of several recent research reports. StockNews.com upgraded shares of Proto Labs from a "buy" rating to a "strong-buy" rating in a research note on Wednesday. Needham & Company LLC restated a "hold" rating on shares of Proto Labs in a research note on Friday, February 7th. Finally, Cantor Fitzgerald upped their price objective on Proto Labs from $40.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.67.

Proto Labs Stock Up 0.2 %

Shares of PRLB stock traded up $0.08 during mid-day trading on Thursday, reaching $33.48. 137,547 shares of the stock traded hands, compared to its average volume of 227,502. The stock's fifty day simple moving average is $37.58 and its two-hundred day simple moving average is $37.28. Proto Labs, Inc. has a 1-year low of $25.76 and a 1-year high of $46.73. The company has a market cap of $795.73 million, a price-to-earnings ratio of 51.64 and a beta of 1.52.

Proto Labs announced that its board has authorized a share buyback plan on Friday, February 7th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 9.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is 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.