State Street Corp Has $28.36 Million Stock Position in Proto Labs, Inc. (NYSE:PRLB)

State Street Corp lifted its holdings in Proto Labs, Inc. (NYSE:PRLB) by 1.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 965,426 shares of the industrial products company’s stock after acquiring an additional 13,554 shares during the period. State Street Corp’s holdings in Proto Labs were worth $28,355,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Canada Pension Plan Investment Board bought a new position in Proto Labs during the 2nd quarter worth $37,000. Innealta Capital LLC acquired a new position in Proto Labs in the second quarter valued at about $40,000. KBC Group NV lifted its position in Proto Labs by 69.3% during the third quarter. KBC Group NV now owns 1,541 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 631 shares during the period. Meeder Asset Management Inc. bought a new stake in Proto Labs during the second quarter worth about $80,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in Proto Labs by 40.6% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,108 shares of the industrial products company’s stock worth $121,000 after buying an additional 1,186 shares in the last quarter. 84.54% of the stock is owned by institutional investors.

Proto Labs Stock Down 1.3 %

NYSE PRLB opened at $40.72 on Friday. The company has a market cap of $998.05 million, a price-to-earnings ratio of 43.32 and a beta of 1.45. Proto Labs, Inc. has a twelve month low of $25.75 and a twelve month high of $45.15. The business’s fifty day moving average is $36.98 and its 200 day moving average is $32.66.

Proto Labs (NYSE:PRLB) last announced its quarterly earnings results on Friday, November 1st. The industrial products company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.15. Proto Labs had a return on equity of 3.49% and a net margin of 4.76%. The firm had revenue of $125.60 million for the quarter, compared to analyst estimates of $121.38 million. During the same period last year, the firm posted $0.31 earnings per share. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, research analysts anticipate that Proto Labs, Inc. will post 0.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Craig Hallum boosted their target price on shares of Proto Labs from $30.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of Proto Labs in a research note on Monday, November 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of Proto Labs in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Proto Labs currently has an average rating of “Moderate Buy” and an average target price of $40.33.

About Proto Labs

Proto Labs, Inc, together with its subsidiaries, operates as a digital manufacturer of custom parts in the United States and Europe. The company offers injection molding; computer numerical control machining; three-dimensional printing; and sheet metal fabrication products. It serves developers and engineers, who use 3D computer-aided design software to design products across a range of end-markets.