State Street Corp increased its stake in shares of Proto Labs, Inc. (NYSE:PRLB) by 9.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 566,187 shares of the industrial products company’s stock after buying an additional 49,121 shares during the period. State Street Corp owned approximately 2.14% of Proto Labs worth $28,931,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brown Capital Management LLC increased its position in Proto Labs by 2.9% in the first quarter. Brown Capital Management LLC now owns 3,801,528 shares of the industrial products company’s stock valued at $194,258,000 after buying an additional 107,183 shares during the period. BlackRock Inc. increased its position in Proto Labs by 146,773.4% in the first quarter. BlackRock Inc. now owns 2,905,155 shares of the industrial products company’s stock valued at $148,453,000 after buying an additional 2,903,177 shares during the period. Vanguard Group Inc. increased its position in Proto Labs by 5.1% in the first quarter. Vanguard Group Inc. now owns 2,119,327 shares of the industrial products company’s stock valued at $108,298,000 after buying an additional 103,656 shares during the period. Riverbridge Partners LLC increased its position in Proto Labs by 1.2% in the first quarter. Riverbridge Partners LLC now owns 2,021,642 shares of the industrial products company’s stock valued at $103,306,000 after buying an additional 24,714 shares during the period. Finally, Stephens Investment Management Group LLC increased its position in Proto Labs by 15.0% in the first quarter. Stephens Investment Management Group LLC now owns 706,528 shares of the industrial products company’s stock valued at $36,104,000 after buying an additional 91,950 shares during the period.

Shares of Proto Labs, Inc. (NYSE PRLB) traded down 0.60% on Friday, hitting $74.00. 83,840 shares of the company were exchanged. The firm’s 50-day moving average is $68.79 and its 200-day moving average is $59.11. Proto Labs, Inc. has a 52-week low of $43.10 and a 52-week high of $75.25. The stock has a market capitalization of $1.97 billion, a PE ratio of 43.02 and a beta of 0.93.

Proto Labs (NYSE:PRLB) last posted its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The firm had revenue of $82.04 million for the quarter, compared to analyst estimates of $80.49 million. Proto Labs had a net margin of 14.59% and a return on equity of 11.75%. Proto Labs’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.45 earnings per share. Equities research analysts predict that Proto Labs, Inc. will post $2.06 earnings per share for the current year.

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PRLB has been the subject of a number of analyst reports. Dougherty & Co raised shares of Proto Labs from a “sell” rating to a “neutral” rating in a report on Tuesday, June 27th. Zacks Investment Research downgraded shares of Proto Labs from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 28th. TheStreet raised shares of Proto Labs from a “c+” rating to a “b-” rating in a report on Friday, May 5th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $67.00 price target on shares of Proto Labs in a report on Friday, July 28th. Four analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus target price of $60.75.

In related news, Director Rainer Gawlick sold 833 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $64.05, for a total transaction of $53,353.65. Following the transaction, the director now directly owns 6,258 shares in the company, valued at $400,824.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert Bodor sold 741 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $73.84, for a total transaction of $54,715.44. Following the transaction, the vice president now owns 17,319 shares in the company, valued at $1,278,834.96. The disclosure for this sale can be found here. Insiders have sold 16,729 shares of company stock worth $1,077,003 over the last 90 days. 7.78% of the stock is currently owned by company insiders.

Proto Labs Company Profile

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

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