Prudential Financial Inc. lessened its stake in shares of Proto Labs Inc (NYSE:PRLB) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,374 shares of the industrial products company’s stock after selling 250 shares during the quarter. Prudential Financial Inc. owned about 0.16% of Proto Labs worth $5,032,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PRLB. Conestoga Capital Advisors LLC boosted its holdings in shares of Proto Labs by 2.8% during the second quarter. Conestoga Capital Advisors LLC now owns 574,150 shares of the industrial products company’s stock worth $66,613,000 after purchasing an additional 15,749 shares during the last quarter. Stephens Investment Management Group LLC boosted its holdings in Proto Labs by 0.5% in the second quarter. Stephens Investment Management Group LLC now owns 548,650 shares of the industrial products company’s stock valued at $63,654,000 after acquiring an additional 2,723 shares during the last quarter. ARK Investment Management LLC boosted its holdings in Proto Labs by 61.7% in the second quarter. ARK Investment Management LLC now owns 470,848 shares of the industrial products company’s stock valued at $54,628,000 after acquiring an additional 179,626 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in Proto Labs by 173.3% in the second quarter. TimesSquare Capital Management LLC now owns 356,380 shares of the industrial products company’s stock valued at $41,347,000 after acquiring an additional 225,980 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Proto Labs by 12.4% in the fourth quarter. Geode Capital Management LLC now owns 290,264 shares of the industrial products company’s stock valued at $32,738,000 after acquiring an additional 31,984 shares during the last quarter. Hedge funds and other institutional investors own 93.87% of the company’s stock.

A number of brokerages recently weighed in on PRLB. Zacks Investment Research upgraded Proto Labs from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a report on Thursday, August 1st. ValuEngine raised Proto Labs from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Piper Jaffray Companies cut their price objective on Proto Labs from $92.00 to $84.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Proto Labs has a consensus rating of “Buy” and a consensus price target of $126.25.

NYSE:PRLB traded up $1.34 during mid-day trading on Friday, hitting $110.80. The company had a trading volume of 3,426 shares, compared to its average volume of 180,052. The business has a fifty day simple moving average of $97.76 and a 200-day simple moving average of $105.28. The company has a current ratio of 4.26, a quick ratio of 4.08 and a debt-to-equity ratio of 0.02. Proto Labs Inc has a 1 year low of $88.75 and a 1 year high of $166.60. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 39.38, a PEG ratio of 1.33 and a beta of 1.65.

Proto Labs (NYSE:PRLB) last released its quarterly earnings data on Thursday, July 25th. The industrial products company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. Proto Labs had a return on equity of 13.14% and a net margin of 15.71%. The company had revenue of $115.90 million for the quarter, compared to analyst estimates of $116.49 million. During the same period last year, the company posted $0.73 earnings per share. The firm’s revenue was up 5.7% compared to the same quarter last year. As a group, research analysts anticipate that Proto Labs Inc will post 2.5 earnings per share for the current year.

About Proto Labs

Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce driven digital manufacturer of custom parts for prototyping and short-run production worldwide. It utilizes injection molding, computer numerical control machining, three-dimensional (3D) printing, and sheet metal fabrication to manufacture custom parts for developers and engineers who use 3D computer-aided design software to design products across a range of end markets.

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Institutional Ownership by Quarter for Proto Labs (NYSE:PRLB)

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