Wellington Management Group LLP Raises Stock Position in Proto Labs, Inc. (NYSE:PRLB)

Wellington Management Group LLP raised its holdings in shares of Proto Labs, Inc. (NYSE:PRLB - Free Report) by 6.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 387,741 shares of the industrial products company's stock after purchasing an additional 23,696 shares during the period. Wellington Management Group LLP owned 1.58% of Proto Labs worth $11,388,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Marshall Wace LLP raised its holdings in Proto Labs by 81.6% in the second quarter. Marshall Wace LLP now owns 42,800 shares of the industrial products company's stock worth $1,322,000 after buying an additional 19,232 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Proto Labs during the third quarter valued at approximately $753,000. Quest Partners LLC raised its holdings in Proto Labs by 146.5% in the 2nd quarter. Quest Partners LLC now owns 30,403 shares of the industrial products company's stock worth $939,000 after acquiring an additional 18,068 shares during the last quarter. Bank of Montreal Can bought a new position in Proto Labs in the 2nd quarter valued at approximately $629,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Proto Labs by 217.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,403 shares of the industrial products company's stock valued at $2,009,000 after acquiring an additional 46,866 shares in the last quarter. Institutional investors own 84.54% of the company's stock.

Proto Labs Trading Up 2.7 %

PRLB stock traded up $1.18 during midday trading on Monday, reaching $44.78. 234,625 shares of the company's stock traded hands, compared to its average volume of 202,597. Proto Labs, Inc. has a 52-week low of $25.75 and a 52-week high of $45.15. The stock has a market cap of $1.10 billion, a P/E ratio of 47.63 and a beta of 1.45. The stock's 50-day moving average is $35.91 and its 200 day moving average is $32.38.

Proto Labs (NYSE:PRLB - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The industrial products company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.32 by $0.15. The firm had revenue of $125.60 million during the quarter, compared to analyst estimates 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 was down 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 EPS. As a group, research analysts expect that Proto Labs, Inc. will post 0.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Craig Hallum boosted their price target on Proto Labs from $30.00 to $36.00 and gave the stock a "hold" rating in a research note on Monday, November 4th. Needham & Company LLC restated a "hold" rating on shares of Proto Labs in a research note on Friday, November 1st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $40.00 price target on shares of Proto Labs in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Proto Labs presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.33.

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.