Jefferies Financial Group Inc. acquired a new stake in Proto Labs, Inc. (NYSE:PRLB – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,710 shares of the industrial products company’s stock, valued at approximately $873,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Public Employees Retirement System of Ohio acquired a new stake in Proto Labs during the 2nd quarter worth $37,000. MASTERINVEST Kapitalanlage GmbH acquired a new position in shares of Proto Labs in the 2nd quarter valued at $6,531,000. XXEC Inc. boosted its position in shares of Proto Labs by 433.6% in the 2nd quarter. XXEC Inc. now owns 311,607 shares of the industrial products company’s stock worth $27,557,000 after purchasing an additional 253,214 shares during the last quarter. Parvin Asset Management LLC bought a new position in shares of Proto Labs in the 2nd quarter worth $549,000. Finally, Corient Private Wealth LP acquired a new stake in shares of Proto Labs during the second quarter worth $871,000. 84.54% of the stock is owned by institutional investors.
Proto Labs Stock Down 0.1%
Shares of PRLB stock opened at $79.64 on Monday. Proto Labs, Inc. has a 12-month low of $45.10 and a 12-month high of $93.00. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 63.71 and a beta of 1.40. The firm has a fifty day moving average of $80.43 and a 200-day moving average of $71.01.
Insider Activity
In other Proto Labs news, Director Sven Wehrwein sold 2,000 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $77.28, for a total value of $154,560.00. Following the completion of the sale, the director directly owned 32,505 shares in the company, valued at $2,511,986.40. This represents a 5.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on PRLB. Needham & Company LLC upgraded Proto Labs from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a report on Monday, August 3rd. Benchmark raised their target price on Proto Labs from $70.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Zacks Research upgraded Proto Labs from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Weiss Ratings cut Proto Labs from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 18th. Finally, Wall Street Zen downgraded shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat, Proto Labs has a consensus rating of “Buy” and an average target price of $89.00.
Check Out Our Latest Report on PRLB
Proto Labs Company Profile
Proto Labs, Inc is a digital manufacturing company that offers on-demand production services for custom parts and prototypes. Utilizing technologies such as 3D printing (additive manufacturing), CNC machining and injection molding, the company transforms digital CAD designs into functional parts on accelerated timelines. Its platform-driven process combines automated quoting, rapid tool generation and manufacturing execution to serve product developers, engineers and small- to medium-sized production runs.
Founded in 1999 by Larry Lukis, Proto Labs has championed the application of digital workflows to traditional manufacturing methods.
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