Jupiter Asset Management Ltd. Raises Stock Holdings in Proto Labs, Inc. (NYSE:PRLB)

Jupiter Asset Management Ltd. grew its holdings in Proto Labs, Inc. (NYSE:PRLB) by 2.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,704 shares of the industrial products company’s stock after buying an additional 3,693 shares during the quarter. Jupiter Asset Management Ltd. owned 0.60% of Proto Labs worth $4,655,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PRLB. Innealta Capital LLC purchased a new position in Proto Labs in the 2nd quarter valued at about $40,000. Headlands Technologies LLC lifted its position in shares of Proto Labs by 224.0% in the first quarter. Headlands Technologies LLC now owns 1,873 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 1,295 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Proto Labs in the first quarter worth approximately $110,000. Shell Asset Management Co. purchased a new stake in shares of Proto Labs during the first quarter worth approximately $132,000. Finally, Tradition Wealth Management LLC lifted its holdings in Proto Labs by 7.8% in the 4th quarter. Tradition Wealth Management LLC now owns 4,192 shares of the industrial products company’s stock valued at $163,000 after purchasing an additional 305 shares in the last quarter. 84.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Proto Labs

In related news, CEO Robert Bodor acquired 3,480 shares of Proto Labs stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $28.68 per share, for a total transaction of $99,806.40. Following the acquisition, the chief executive officer now owns 80,878 shares in the company, valued at $2,319,581.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Proto Labs Price Performance

NYSE:PRLB opened at $29.57 on Friday. The company’s 50-day moving average is $30.79 and its two-hundred day moving average is $31.97. Proto Labs, Inc. has a 1-year low of $23.01 and a 1-year high of $41.87. The firm has a market capitalization of $743.69 million, a price-to-earnings ratio of 38.40 and a beta of 1.32.

Proto Labs (NYSE:PRLB) last released its quarterly earnings data on Friday, August 2nd. The industrial products company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. The firm had revenue of $125.60 million for the quarter, compared to analysts’ expectations of $126.25 million. Proto Labs had a return on equity of 3.60% and a net margin of 4.86%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) earnings per share. As a group, equities analysts anticipate that Proto Labs, Inc. will post 0.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PRLB shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a report on Monday, August 5th. Benchmark reaffirmed a “buy” rating and set a $45.00 price objective on shares of Proto Labs in a research note on Wednesday, May 29th. StockNews.com lowered shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $44.00 price target on shares of Proto Labs in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Proto Labs presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

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.