Proto Labs, Inc. (NYSE:PRLB) Stock Position Raised by KBC Group NV

KBC Group NV grew its stake in Proto Labs, Inc. (NYSE:PRLB) by 69.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,541 shares of the industrial products company’s stock after buying an additional 631 shares during the period. KBC Group NV’s holdings in Proto Labs were worth $45,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PRLB. Marshall Wace LLP increased its holdings in shares of Proto Labs by 81.6% during the 2nd quarter. Marshall Wace LLP now owns 42,800 shares of the industrial products company’s stock worth $1,322,000 after purchasing an additional 19,232 shares during the period. Vanguard Group Inc. increased its stake in Proto Labs by 2.0% in the first quarter. Vanguard Group Inc. now owns 2,980,157 shares of the industrial products company’s stock valued at $106,541,000 after purchasing an additional 57,894 shares in the last quarter. Quest Partners LLC lifted its holdings in Proto Labs by 146.5% during the second 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 in the last quarter. Bank of Montreal Can bought a new stake in Proto Labs during the 2nd quarter worth approximately $629,000. Finally, UniSuper Management Pty Ltd bought a new stake in Proto Labs in the 1st quarter valued at $312,000. 84.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PRLB shares. Craig Hallum boosted their price objective on shares of Proto Labs from $30.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. StockNews.com downgraded shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $40.00 target price on shares of Proto Labs in a report on Monday, November 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $40.33.

Proto Labs Price Performance

PRLB opened at $41.50 on Friday. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 44.15 and a beta of 1.32. The company’s 50 day moving average price is $31.60 and its two-hundred day moving average price is $31.17. Proto Labs, Inc. has a fifty-two week low of $25.75 and a fifty-two week high of $41.87.

Proto Labs (NYSE:PRLB) last issued its quarterly earnings results on Friday, November 1st. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.15. Proto Labs had a net margin of 4.76% and a return on equity of 3.49%. The firm had revenue of $125.60 million for the quarter, compared to the consensus estimate of $121.38 million. During the same quarter in the previous year, the company earned $0.31 EPS. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, equities research analysts predict that Proto Labs, Inc. will post 0.84 EPS for the current year.

Insider Buying and Selling at Proto Labs

In other Proto Labs news, CEO Robert Bodor purchased 3,480 shares of Proto Labs stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $28.68 per share, with a total value of $99,806.40. Following the transaction, the chief executive officer now owns 80,878 shares in the company, valued at $2,319,581.04. This trade represents a 4.50 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

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.