Proto Labs (NYSE:PRLB) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Proto Labs, Inc. (NYSE:PRLB) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $36.36 and traded as high as $37.12. Proto Labs shares last traded at $35.75, with a volume of 145,388 shares traded.

Analyst Ratings Changes

A number of research firms have issued reports on PRLB. Needham & Company LLC reiterated a “hold” rating on shares of Proto Labs in a research note on Friday, February 7th. StockNews.com raised Proto Labs from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 7th. Finally, Cantor Fitzgerald increased their target price on shares of Proto Labs from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.67.

Proto Labs Stock Down 3.8 %

The firm has a market cap of $866.21 million, a PE ratio of 54.99 and a beta of 1.45. The company has a 50-day simple moving average of $40.25 and a two-hundred day simple moving average of $36.36.

Proto Labs declared that its Board of Directors has authorized a share buyback program on Friday, February 7th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 9.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Proto Labs

Large investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Proto Labs by 1.4% in the third quarter. State Street Corp now owns 965,426 shares of the industrial products company’s stock valued at $28,355,000 after acquiring an additional 13,554 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Proto Labs in the third quarter valued at approximately $753,000. Jane Street Group LLC lifted its stake in Proto Labs by 107.4% in the third quarter. Jane Street Group LLC now owns 97,623 shares of the industrial products company’s stock valued at $2,867,000 after purchasing an additional 50,556 shares during the last quarter. Empowered Funds LLC grew its holdings in Proto Labs by 544.3% during the fourth quarter. Empowered Funds LLC now owns 95,359 shares of the industrial products company’s stock valued at $3,728,000 after purchasing an additional 80,558 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Proto Labs by 93.1% in the third quarter. JPMorgan Chase & Co. now owns 139,890 shares of the industrial products company’s stock worth $4,109,000 after buying an additional 67,449 shares during the last quarter. Hedge funds and other institutional investors own 84.54% 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.