Proto Labs, Inc. (NYSE:PRLB) Holdings Lowered by Amundi

Amundi trimmed its stake in shares of Proto Labs, Inc. (NYSE:PRLB) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,043 shares of the industrial products company’s stock after selling 490 shares during the period. Amundi’s holdings in Proto Labs were worth $378,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. KBC Group NV increased its holdings 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 valued at $45,000 after acquiring an additional 631 shares during the last quarter. Modus Advisors LLC bought a new stake in Proto Labs during the 4th quarter valued at approximately $87,000. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Proto Labs by 40.6% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,108 shares of the industrial products company’s stock worth $121,000 after acquiring an additional 1,186 shares during the period. Meeder Asset Management Inc. lifted its position in shares of Proto Labs by 72.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,465 shares of the industrial products company’s stock worth $131,000 after acquiring an additional 1,873 shares during the period. Finally, Paloma Partners Management Co bought a new stake in shares of Proto Labs in the 3rd quarter worth approximately $201,000. 84.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Proto Labs Stock Performance

Shares of NYSE:PRLB opened at $36.48 on Friday. The company has a fifty day moving average of $40.00 and a 200-day moving average of $36.56. Proto Labs, Inc. has a 52-week low of $25.76 and a 52-week high of $46.73. The company has a market capitalization of $883.95 million, a PE ratio of 56.12 and a beta of 1.45.

Proto Labs announced that its Board of Directors has initiated a stock repurchase plan on Friday, February 7th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the industrial products company to purchase up to 9.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

About Proto Labs

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.