EntryPoint Capital LLC Sells 4,739 Shares of Proto Labs, Inc. (NYSE:PRLB)

EntryPoint Capital LLC decreased its holdings in Proto Labs, Inc. (NYSE:PRLB) by 41.7% in the fourth quarter, Holdings Channel reports. The firm owned 6,625 shares of the industrial products company’s stock after selling 4,739 shares during the quarter. EntryPoint Capital LLC’s holdings in Proto Labs were worth $259,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Modus Advisors LLC purchased a new stake in Proto Labs in the fourth quarter worth approximately $87,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Proto Labs by 40.6% in the 3rd 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 during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Proto Labs in the fourth quarter worth $192,000. Paloma Partners Management Co purchased a new stake in Proto Labs during the third quarter valued at $201,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Proto Labs in the fourth quarter valued at about $205,000. Institutional investors own 84.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PRLB shares. Needham & Company LLC restated a “hold” rating on shares of Proto Labs in a research note on Friday, February 7th. Cantor Fitzgerald upped their target price on shares of Proto Labs from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, StockNews.com upgraded shares of Proto Labs from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 7th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.67.

Proto Labs Stock Down 3.4 %

PRLB stock opened at $35.78 on Friday. The business’s 50-day moving average price is $39.89 and its 200-day moving average price is $36.88. The stock has a market cap of $867.11 million, a P/E ratio of 55.05 and a beta of 1.45. Proto Labs, Inc. has a twelve month low of $25.76 and a twelve month high of $46.73.

Proto Labs announced that its Board of Directors has initiated a share buyback program on Friday, February 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the industrial products company to repurchase up to 9.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Proto Labs Profile

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.