Deutsche Bank AG bought a new position in shares of Proto Labs, Inc. (NYSE:PRLB – Free Report) in the second quarter, HoldingsChannel reports. The firm bought 25,119 shares of the industrial products company’s stock, valued at approximately $2,047,000.
Several other institutional investors also recently bought and sold shares of the stock. Disciplined Growth Investors Inc. MN increased its holdings in Proto Labs by 1.9% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,722,011 shares of the industrial products company’s stock valued at $108,989,000 after acquiring an additional 51,293 shares during the last quarter. Rubric Capital Management LP boosted its holdings in shares of Proto Labs by 8.6% during the 3rd quarter. Rubric Capital Management LP now owns 1,123,338 shares of the industrial products company’s stock valued at $56,201,000 after purchasing an additional 89,167 shares during the last quarter. American Capital Management Inc. grew its position in shares of Proto Labs by 126.0% during the fourth quarter. American Capital Management Inc. now owns 631,311 shares of the industrial products company’s stock valued at $31,938,000 after purchasing an additional 352,015 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Proto Labs by 5.4% during the first quarter. Renaissance Technologies LLC now owns 520,251 shares of the industrial products company’s stock valued at $29,665,000 after purchasing an additional 26,700 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Proto Labs by 0.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 463,780 shares of the industrial products company’s stock worth $26,445,000 after purchasing an additional 3,162 shares during the last quarter. 84.54% of the stock is owned by hedge funds and other institutional investors.
Proto Labs Trading Down 0.6%
NYSE PRLB opened at $79.64 on Friday. The stock has a market cap of $1.90 billion, a PE ratio of 63.71 and a beta of 1.40. Proto Labs, Inc. has a 12 month low of $45.10 and a 12 month high of $93.00. The company’s 50-day moving average price is $80.43 and its 200-day moving average price is $70.97.
Wall Street Analyst Weigh In
A number of research firms recently commented on PRLB. Wall Street Zen downgraded Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Zacks Research raised Proto Labs from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Needham & Company LLC raised Proto Labs from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a report on Monday, August 3rd. Weiss Ratings downgraded Proto Labs from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. Finally, Benchmark raised their target price on shares of Proto Labs from $70.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $89.00.
Get Our Latest Stock Analysis on PRLB
Insider Buying and Selling at Proto Labs
In other news, Director Sven Wehrwein sold 2,000 shares of Proto Labs stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $77.28, for a total transaction of $154,560.00. Following the completion of the sale, the director owned 32,505 shares of the company’s stock, valued at approximately $2,511,986.40. The trade was a 5.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.
Proto Labs Profile
Proto Labs, Inc is a digital manufacturing company that offers on-demand production services for custom parts and prototypes. Utilizing technologies such as 3D printing (additive manufacturing), CNC machining and injection molding, the company transforms digital CAD designs into functional parts on accelerated timelines. Its platform-driven process combines automated quoting, rapid tool generation and manufacturing execution to serve product developers, engineers and small- to medium-sized production runs.
Founded in 1999 by Larry Lukis, Proto Labs has championed the application of digital workflows to traditional manufacturing methods.
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