5,573 Shares in Proto Labs, Inc. (NYSE:PRLB) Purchased by Summit Global Investments

Summit Global Investments acquired a new stake in shares of Proto Labs, Inc. (NYSE:PRLB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,573 shares of the industrial products company’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PRLB. Charles Schwab Investment Management Inc. grew its stake in Proto Labs by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 385,196 shares of the industrial products company’s stock valued at $10,169,000 after acquiring an additional 18,372 shares in the last quarter. S Squared Technology LLC increased its holdings in shares of Proto Labs by 177.3% in the third quarter. S Squared Technology LLC now owns 251,803 shares of the industrial products company’s stock worth $6,648,000 after purchasing an additional 161,008 shares during the period. FMR LLC raised its position in shares of Proto Labs by 21.1% in the third quarter. FMR LLC now owns 234,765 shares of the industrial products company’s stock worth $6,198,000 after buying an additional 40,903 shares in the last quarter. Nordea Investment Management AB boosted its stake in Proto Labs by 14.0% during the fourth quarter. Nordea Investment Management AB now owns 168,464 shares of the industrial products company’s stock valued at $6,575,000 after buying an additional 20,721 shares during the period. Finally, Meros Investment Management LP increased its stake in Proto Labs by 85.6% in the 3rd quarter. Meros Investment Management LP now owns 85,569 shares of the industrial products company’s stock worth $2,259,000 after acquiring an additional 39,456 shares during the last quarter. Institutional investors own 84.54% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on PRLB shares. Needham & Company LLC reiterated a “hold” rating on shares of Proto Labs in a research report on Monday. Craig Hallum lowered their price objective on shares of Proto Labs from $38.00 to $34.00 and set a “hold” rating on the stock in a research report on Monday. Finally, StockNews.com upgraded shares of Proto Labs from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd.

Proto Labs Stock Performance

Shares of Proto Labs stock opened at $31.37 on Tuesday. The company has a fifty day moving average of $33.88 and a 200-day moving average of $34.81. Proto Labs, Inc. has a 52-week low of $23.01 and a 52-week high of $41.87. The stock has a market capitalization of $801.82 million, a price-to-earnings ratio of 40.74 and a beta of 1.36.

Proto Labs (NYSE:PRLB) last released its earnings results on Friday, February 9th. The industrial products company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.05). The company had revenue of $125.10 million during the quarter, compared to the consensus estimate of $122.81 million. Proto Labs had a net margin of 3.92% and a return on equity of 2.88%. The company’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm posted ($4.24) EPS. On average, equities research analysts forecast that Proto Labs, Inc. will post 0.94 earnings per share for the current fiscal year.

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.