Geode Capital Management LLC Grows Stock Holdings in Proto Labs, Inc. (NYSE:PRLB)

Geode Capital Management LLC lifted its position in Proto Labs, Inc. (NYSE:PRLB) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 585,809 shares of the industrial products company’s stock after purchasing an additional 4,285 shares during the quarter. Geode Capital Management LLC owned about 2.39% of Proto Labs worth $17,209,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in Proto Labs by 44,804.1% during the 3rd quarter. Pacer Advisors Inc. now owns 573,874 shares of the industrial products company’s stock valued at $16,855,000 after acquiring an additional 572,596 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Proto Labs during the third quarter valued at about $8,587,000. Dimensional Fund Advisors LP raised its stake in Proto Labs by 13.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,110,566 shares of the industrial products company’s stock worth $34,305,000 after buying an additional 130,670 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in Proto Labs by 5.7% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,056,593 shares of the industrial products company’s stock worth $60,402,000 after buying an additional 110,244 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Proto Labs by 32.3% during the 2nd quarter. Renaissance Technologies LLC now owns 435,823 shares of the industrial products company’s stock valued at $13,463,000 after acquiring an additional 106,423 shares in the last quarter. 84.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on PRLB. Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a research note on Friday, November 1st. Craig Hallum upped their target price 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. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $40.00 price objective on shares of Proto Labs in a research note on Monday, November 4th. Two equities 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.33.

Proto Labs Price Performance

Shares of Proto Labs stock opened at $39.56 on Monday. Proto Labs, Inc. has a 1 year low of $25.75 and a 1 year high of $45.15. The firm’s 50-day moving average is $38.09 and its 200 day moving average is $32.96. The stock has a market cap of $969.62 million, a price-to-earnings ratio of 42.09 and a beta of 1.45.

Proto Labs (NYSE:PRLB) last issued its earnings results on Friday, November 1st. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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 prior year, the firm posted $0.31 earnings per share. The business’s revenue was down 3.9% on a year-over-year basis. On average, equities analysts expect that Proto Labs, Inc. will post 0.84 EPS for the current fiscal year.

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.