First Trust Advisors LP raised its stake in shares of Proto Labs, Inc. (NYSE:PRLB – Get Rating) by 61.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 274,640 shares of the industrial products company’s stock after acquiring an additional 104,804 shares during the quarter. First Trust Advisors LP owned approximately 1.01% of Proto Labs worth $7,012,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in shares of Proto Labs by 8.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 790,826 shares of the industrial products company’s stock worth $20,188,000 after purchasing an additional 64,067 shares in the last quarter. Principal Financial Group Inc. raised its stake in Proto Labs by 1.7% in the 4th quarter. Principal Financial Group Inc. now owns 172,394 shares of the industrial products company’s stock worth $4,401,000 after acquiring an additional 2,867 shares during the last quarter. UBS Group AG raised its stake in Proto Labs by 62.3% in the 4th quarter. UBS Group AG now owns 39,094 shares of the industrial products company’s stock worth $998,000 after acquiring an additional 15,012 shares during the last quarter. Swiss National Bank raised its stake in shares of Proto Labs by 1.8% during the 4th quarter. Swiss National Bank now owns 66,400 shares of the industrial products company’s stock valued at $1,695,000 after buying an additional 1,200 shares during the last quarter. Finally, Duality Advisers LP purchased a new position in shares of Proto Labs during the 4th quarter valued at about $434,000. Institutional investors own 88.41% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Craig Hallum lifted their price objective on Proto Labs from $20.00 to $25.00 and gave the company a “sell” rating in a research note on Monday, February 13th. Benchmark upgraded Proto Labs from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Monday, February 13th. Lake Street Capital lifted their price target on Proto Labs from $37.50 to $40.00 in a research note on Monday, February 13th. StockNews.com began coverage on Proto Labs in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Finally, TheStreet cut Proto Labs from a “c-” rating to a “d” rating in a report on Friday, February 10th. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Proto Labs has a consensus rating of “Moderate Buy” and an average price target of $36.67.
Proto Labs Stock Down 2.4 %
Proto Labs Profile
Proto Labs, Inc engages in the manufacture of custom prototypes and production parts. It offers 3D printing, CNC machining, and injection molding services. The company was founded by Lawrence J. Lukis and Gregg Bloom on May 5, 1999 and is headquartered in Maple Plain, MN.
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