State Street Corp Has $28.36 Million Position in Proto Labs, Inc. (NYSE:PRLB)

State Street Corp increased its position in shares of Proto Labs, Inc. (NYSE:PRLB) by 1.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 965,426 shares of the industrial products company’s stock after buying an additional 13,554 shares during the quarter. State Street Corp owned 3.94% of Proto Labs worth $28,355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRLB. KBC Group NV boosted its stake in shares of Proto Labs by 69.3% during the 3rd quarter. KBC Group NV now owns 1,541 shares of the industrial products company’s stock worth $45,000 after buying an additional 631 shares during the last quarter. American Century Companies Inc. raised its holdings in Proto Labs by 1.9% during the second quarter. American Century Companies Inc. now owns 42,931 shares of the industrial products company’s stock worth $1,326,000 after acquiring an additional 812 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in Proto Labs by 40.6% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,108 shares of the industrial products company’s stock valued at $121,000 after purchasing an additional 1,186 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Proto Labs in the second quarter valued at approximately $37,000. Finally, Innealta Capital LLC acquired a new position in shares of Proto Labs during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 84.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PRLB. Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a research note on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and set a $40.00 price objective on shares of Proto Labs in a research note on Monday, November 4th. Finally, Craig Hallum raised their target price on shares of Proto Labs from $30.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.33.

Proto Labs Price Performance

PRLB stock opened at $40.72 on Friday. Proto Labs, Inc. has a one year low of $25.75 and a one year high of $45.15. The stock has a market cap of $998.05 million, a price-to-earnings ratio of 43.32 and a beta of 1.45. The company has a fifty day moving average price of $36.98 and a two-hundred day moving average price of $32.66.

Proto Labs (NYSE:PRLB) last announced its earnings results 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 business had revenue of $125.60 million during the quarter, compared to the consensus estimate of $121.38 million. Proto Labs had a net margin of 4.76% and a return on equity of 3.49%. Proto Labs’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 EPS. Research analysts anticipate that Proto Labs, Inc. will post 0.84 EPS for the current fiscal year.

Proto Labs 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.