Ameriprise Financial Inc. increased its position in Proto Labs, Inc. (NYSE:PRLB) by 2.8% during the first quarter, Holdings Channel reports. The institutional investor owned 174,990 shares of the industrial products company’s stock after buying an additional 4,812 shares during the period. Ameriprise Financial Inc.’s holdings in Proto Labs were worth $8,942,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Brown Advisory Inc. boosted its stake in Proto Labs by 1.1% in the fourth quarter. Brown Advisory Inc. now owns 5,215 shares of the industrial products company’s stock valued at $267,000 after buying an additional 59 shares during the period. State of Alaska Department of Revenue boosted its stake in Proto Labs by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 2,690 shares of the industrial products company’s stock valued at $137,000 after buying an additional 60 shares during the period. Louisiana State Employees Retirement System boosted its stake in Proto Labs by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 9,900 shares of the industrial products company’s stock valued at $506,000 after buying an additional 100 shares during the period. Perigon Wealth Management LLC boosted its stake in Proto Labs by 3.3% in the fourth quarter. Perigon Wealth Management LLC now owns 5,408 shares of the industrial products company’s stock valued at $290,000 after buying an additional 175 shares during the period. Finally, Bell Bank boosted its stake in Proto Labs by 5.5% in the first quarter. Bell Bank now owns 6,469 shares of the industrial products company’s stock valued at $331,000 after buying an additional 340 shares during the period.

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

Proto Labs, Inc. (NYSE:PRLB) opened at 65.70 on Tuesday. Proto Labs, Inc. has a 1-year low of $43.10 and a 1-year high of $68.20. The stock has a 50 day moving average price of $63.67 and a 200 day moving average price of $55.49. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 39.34 and a beta of 0.77.

Proto Labs (NYSE:PRLB) last issued its earnings results on Thursday, April 27th. The industrial products company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.11. Proto Labs had a return on equity of 11.84% and a net margin of 14.48%. The company had revenue of $80.20 million for the quarter, compared to analyst estimates of $75.05 million. During the same period in the prior year, the firm posted $0.44 EPS. The business’s revenue was up 10.5% compared to the same quarter last year. Analysts predict that Proto Labs, Inc. will post $2.04 EPS for the current year.

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PRLB has been the subject of several recent analyst reports. TheStreet upgraded Proto Labs from a “c+” rating to a “b-” rating in a report on Friday, May 5th. Zacks Investment Research upgraded Proto Labs from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Wednesday, May 3rd. Finally, Dougherty & Co lifted their price target on Proto Labs from $42.50 to $45.00 and gave the company a “sell” rating in a report on Friday, April 28th.

In other Proto Labs news, Director John B. Tumelty sold 11,896 shares of the company’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $61.72, for a total value of $734,221.12. Following the transaction, the director now directly owns 4,299 shares of the company’s stock, valued at approximately $265,334.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Rainer Gawlick sold 833 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $64.05, for a total value of $53,353.65. Following the completion of the transaction, the director now directly owns 6,258 shares in the company, valued at $400,824.90. The disclosure for this sale can be found here. Corporate insiders own 7.78% of the company’s stock.

About Proto Labs

Proto Labs, Inc is an e-commerce driven digital manufacturer of on-demand three dimensional (3D) printed, computer numerical control (CNC) machined and injection-molded custom parts for prototyping and short-run production. The Company’s geographic segments include the United States, Europe and Japan.

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