Millennium Management LLC bought a new position in shares of Proto Labs Inc (NYSE:PRLB) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 17,690 shares of the industrial products company’s stock, valued at approximately $1,995,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Nikko Asset Management Americas Inc. boosted its holdings in Proto Labs by 530.8% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 656 shares of the industrial products company’s stock worth $74,000 after acquiring an additional 552 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Proto Labs by 7.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,157 shares of the industrial products company’s stock valued at $131,000 after purchasing an additional 85 shares in the last quarter. Quantamental Technologies LLC bought a new position in shares of Proto Labs in the fourth quarter valued at approximately $226,000. Eukles Asset Management bought a new position in shares of Proto Labs in the fourth quarter valued at approximately $240,000. Finally, Hardy Reed LLC bought a new position in shares of Proto Labs in the fourth quarter valued at approximately $258,000. 93.49% of the stock is owned by institutional investors and hedge funds.
PRLB stock opened at $117.14 on Thursday. Proto Labs Inc has a twelve month low of $94.20 and a twelve month high of $166.60. The company has a market capitalization of $3.07 billion, a PE ratio of 40.89, a P/E/G ratio of 1.30 and a beta of 1.61.
Proto Labs (NYSE:PRLB) last posted its earnings results on Thursday, February 7th. The industrial products company reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.06). Proto Labs had a net margin of 17.19% and a return on equity of 14.73%. The company had revenue of $112.80 million during the quarter, compared to the consensus estimate of $115.40 million. During the same quarter in the prior year, the business earned $0.58 EPS. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. On average, sell-side analysts forecast that Proto Labs Inc will post 2.74 EPS for the current fiscal year.
PRLB has been the topic of a number of recent research reports. ValuEngine lowered Proto Labs from a “buy” rating to a “hold” rating in a report on Friday, February 8th. Piper Jaffray Companies dropped their target price on Proto Labs to $98.00 and set a “neutral” rating on the stock in a report on Thursday, February 7th. Finally, Zacks Investment Research lowered Proto Labs from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Proto Labs presently has an average rating of “Hold” and an average target price of $134.00.
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Proto Labs Company Profile
Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce driven digital manufacturer of custom parts for prototyping and short-run production worldwide. It utilizes injection molding, computer numerical control machining, three-dimensional (3D) printing, and sheet metal fabrication to manufacture custom parts for developers and engineers who use 3D computer-aided design software to design products across a range of end markets.
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