JPMorgan Chase & Co. Sells 23,785 Shares of Proto Labs, Inc. (NYSE:PRLB)

JPMorgan Chase & Co. trimmed its stake in shares of Proto Labs, Inc. (NYSE:PRLB - Free Report) by 17.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 116,105 shares of the industrial products company's stock after selling 23,785 shares during the period. JPMorgan Chase & Co. owned 0.47% of Proto Labs worth $4,539,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp raised its position in shares of Proto Labs by 1.4% during the 3rd quarter. State Street Corp now owns 965,426 shares of the industrial products company's stock valued at $28,355,000 after buying an additional 13,554 shares in the last quarter. Jane Street Group LLC increased its holdings in Proto Labs by 107.4% in the 3rd quarter. Jane Street Group LLC now owns 97,623 shares of the industrial products company's stock valued at $2,867,000 after purchasing an additional 50,556 shares during the last quarter. Barclays PLC boosted its position in shares of Proto Labs by 66.4% during the third quarter. Barclays PLC now owns 42,633 shares of the industrial products company's stock worth $1,252,000 after buying an additional 17,017 shares during the period. Geode Capital Management LLC raised its holdings in shares of Proto Labs by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 585,809 shares of the industrial products company's stock valued at $17,209,000 after buying an additional 4,285 shares during the period. Finally, Tidal Investments LLC increased its stake in Proto Labs by 1.7% during the third quarter. Tidal Investments LLC now owns 30,156 shares of the industrial products company's stock worth $886,000 after purchasing an additional 494 shares during the period. 84.54% of the stock is currently owned by institutional investors.

Proto Labs Stock Up 1.9 %

Shares of NYSE:PRLB traded up $0.64 during trading on Thursday, reaching $34.45. The stock had a trading volume of 10,294 shares, compared to its average volume of 231,139. The stock has a market cap of $819.01 million, a P/E ratio of 53.04 and a beta of 1.52. The business has a fifty day moving average price of $36.53 and a 200-day moving average price of $37.45. 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 has authorized a stock repurchase plan on Friday, February 7th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 9.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

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.