AdvisorNet Financial Inc Boosts Stock Holdings in Proto Labs, Inc. (NYSE:PRLB)

AdvisorNet Financial Inc raised its holdings in shares of Proto Labs, Inc. (NYSE:PRLBGet Rating) by 1,108.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,100 shares of the industrial products company’s stock after acquiring an additional 1,009 shares during the period. AdvisorNet Financial Inc’s holdings in Proto Labs were worth $53,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Antonetti Capital Management LLC boosted its holdings in shares of Proto Labs by 84.5% during the fourth quarter. Antonetti Capital Management LLC now owns 524 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 240 shares during the period. Hardy Reed LLC purchased a new stake in shares of Proto Labs during the first quarter worth about $30,000. Virginia Retirement Systems ET AL purchased a new stake in shares of Proto Labs during the first quarter worth about $201,000. Profund Advisors LLC purchased a new stake in shares of Proto Labs during the first quarter worth about $203,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Proto Labs during the first quarter worth about $204,000. 88.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. StockNews.com upgraded shares of Proto Labs from a “hold” rating to a “buy” rating in a report on Monday, August 8th. Craig Hallum decreased their price target on shares of Proto Labs to $42.00 in a research note on Monday, August 15th.

Proto Labs Price Performance

PRLB stock opened at $36.64 on Friday. Proto Labs, Inc. has a 1 year low of $36.58 and a 1 year high of $79.27. The company has a market cap of $1.01 billion, a P/E ratio of 41.64 and a beta of 1.33. The firm has a 50-day moving average of $43.40 and a 200 day moving average of $46.32.

Proto Labs (NYSE:PRLBGet Rating) last released its quarterly earnings results on Friday, August 5th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. Proto Labs had a net margin of 4.88% and a return on equity of 2.95%. The company had revenue of $126.90 million during the quarter, compared to the consensus estimate of $127.28 million. During the same period in the prior year, the firm earned $0.47 earnings per share. Proto Labs’s revenue was up 3.2% on a year-over-year basis. On average, equities research analysts expect that Proto Labs, Inc. will post 0.79 earnings per share for the current fiscal year.

Proto Labs Profile

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Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce driven digital manufacturer of custom prototypes and on-demand production parts in the worldwide. The company offers injection molding; computer numerical control machining; three-dimensional (3D) printing, which include stereolithography, selective laser sintering, direct metal laser sintering, multi jet fusion, polyjet, and carbon DLS processes; and sheet metal fabrication products, including quick-turn and e-commerce-enabled custom sheet metal parts.

See Also

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

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