Proto Labs, Inc. (NYSE:PRLB) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in shares of Proto Labs, Inc. (NYSE:PRLB) by 93.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 139,890 shares of the industrial products company’s stock after purchasing an additional 67,449 shares during the period. JPMorgan Chase & Co. owned approximately 0.57% of Proto Labs worth $4,109,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PRLB. 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 valued at $1,322,000 after acquiring an additional 19,232 shares in the last quarter. State Street Corp lifted its stake in shares of Proto Labs by 1.4% in the 3rd quarter. State Street Corp now owns 965,426 shares of the industrial products company’s stock worth $28,355,000 after acquiring an additional 13,554 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Proto Labs during the 3rd quarter worth approximately $753,000. Jane Street Group LLC boosted its position in shares of Proto Labs by 107.4% during the 3rd quarter. Jane Street Group LLC now owns 97,623 shares of the industrial products company’s stock worth $2,867,000 after purchasing an additional 50,556 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Proto Labs by 6.5% during the third quarter. Wellington Management Group LLP now owns 387,741 shares of the industrial products company’s stock worth $11,388,000 after buying an additional 23,696 shares during the period. Hedge funds and other institutional investors own 84.54% of the company’s stock.

Analyst Upgrades and Downgrades

PRLB has been the topic of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $40.00 price objective on shares of Proto Labs in a research note on Monday, November 4th. Craig Hallum increased their target price on Proto Labs from $30.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a research report on Thursday. Two investment 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 stock currently has an average rating of “Moderate Buy” and an average price target of $40.33.

Proto Labs Trading Down 1.2 %

Proto Labs stock opened at $38.47 on Friday. The stock has a 50 day moving average of $40.15 and a 200-day moving average of $33.76. The stock has a market cap of $942.85 million, a P/E ratio of 40.92 and a beta of 1.45. Proto Labs, Inc. has a 52 week low of $25.75 and a 52 week high of $45.15.

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

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.