Proto Labs, Inc. (NYSE:PRLB) is S Squared Technology LLC's 6th Largest Position

S Squared Technology LLC grew its position in shares of Proto Labs, Inc. (NYSE:PRLB - Free Report) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 307,003 shares of the industrial products company's stock after purchasing an additional 15,000 shares during the period. Proto Labs makes up about 5.0% of S Squared Technology LLC's investment portfolio, making the stock its 6th largest position. S Squared Technology LLC owned approximately 1.25% of Proto Labs worth $12,001,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew 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 during the last quarter. Geode Capital Management LLC boosted its stake in Proto Labs by 0.7% during 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 purchasing an additional 4,285 shares during the period. Renaissance Technologies LLC grew its position in Proto Labs by 2.7% in the 4th quarter. Renaissance Technologies LLC now owns 571,851 shares of the industrial products company's stock worth $22,354,000 after purchasing an additional 15,000 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of 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 valued at $9,711,000 after buying an additional 105,813 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of 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. Institutional investors and hedge funds own 84.54% of the company's stock.

Proto Labs Stock Up 3.4 %

Shares of NYSE PRLB traded up $1.11 during mid-day trading on Tuesday, hitting $33.40. 68,241 shares of the company traded hands, compared to its average volume of 233,796. Proto Labs, Inc. has a 1 year low of $25.75 and a 1 year high of $46.73. The business has a 50 day moving average of $36.97 and a two-hundred day moving average of $37.50. The stock has a market capitalization of $793.83 million, a price-to-earnings ratio of 51.38 and a beta of 1.52.

Proto Labs announced that its Board of Directors has approved a share buyback program on Friday, February 7th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the industrial products company to purchase up to 9.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have recently issued reports on PRLB shares. Needham & Company LLC reissued a "hold" rating on shares of Proto Labs in a research note on Friday, February 7th. Cantor Fitzgerald increased their price objective 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. Finally, StockNews.com upgraded Proto Labs from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock 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.