Stephens Investment Management Group LLC increased its holdings in Proto Labs Inc (NYSE:PRLB) by 0.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 548,650 shares of the industrial products company’s stock after purchasing an additional 2,723 shares during the quarter. Proto Labs accounts for about 1.2% of Stephens Investment Management Group LLC’s holdings, making the stock its 16th largest holding. Stephens Investment Management Group LLC’s holdings in Proto Labs were worth $63,654,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PRLB. Parallel Advisors LLC acquired a new position in Proto Labs in the 1st quarter worth about $34,000. Brand Asset Management Group Inc. acquired a new position in shares of Proto Labs during the first quarter valued at approximately $45,000. Icon Wealth Partners LLC acquired a new position in shares of Proto Labs during the first quarter valued at approximately $57,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Proto Labs during the second quarter valued at approximately $87,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Proto Labs by 18.8% during the first quarter. Nisa Investment Advisors LLC now owns 950 shares of the industrial products company’s stock valued at $100,000 after acquiring an additional 150 shares during the last quarter. 93.47% of the stock is owned by institutional investors.
Shares of Proto Labs stock traded up $0.58 during mid-day trading on Thursday, reaching $93.65. 2,058 shares of the stock traded hands, compared to its average volume of 224,280. The company has a 50-day moving average price of $105.29. Proto Labs Inc has a fifty-two week low of $92.53 and a fifty-two week high of $166.60. The stock has a market capitalization of $2.50 billion, a PE ratio of 33.42, a PEG ratio of 1.18 and a beta of 1.57. The company has a quick ratio of 4.08, a current ratio of 4.26 and a debt-to-equity ratio of 0.02.
PRLB has been the subject of a number of research analyst reports. Piper Jaffray Companies reduced their target price on Proto Labs from $92.00 to $84.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Zacks Investment Research raised Proto Labs from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a report on Thursday, August 1st. Finally, ValuEngine cut Proto Labs from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $126.25.
Proto Labs Company Profile
Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce driven digital manufacturer of custom parts for prototyping and short-run production worldwide. It utilizes injection molding, computer numerical control machining, three-dimensional (3D) printing, and sheet metal fabrication to manufacture custom parts for developers and engineers who use 3D computer-aided design software to design products across a range of end markets.
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