Proto Labs (NYSE:PRLB) Hits New 12-Month High – Here’s What Happened

Proto Labs, Inc. (NYSE:PRLB) hit a new 52-week high during trading on Friday . The stock traded as high as $46.00 and last traded at $46.45, with a volume of 11293 shares. The stock had previously closed at $44.39.

Analyst Upgrades and Downgrades

PRLB has been the topic of a number of research reports. Craig Hallum raised their price target on Proto Labs from $30.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Needham & Company LLC reiterated a “hold” rating on shares of Proto Labs in a report on Thursday, January 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of Proto Labs in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.33.

Proto Labs Stock Down 0.1 %

The business’s fifty day moving average is $40.70 and its two-hundred day moving average is $34.71. The stock has a market capitalization of $1.09 billion, a PE ratio of 46.84 and a beta of 1.45.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PRLB. State Street Corp raised its stake in Proto Labs by 1.4% in the 3rd quarter. State Street Corp now owns 965,426 shares of the industrial products company’s stock worth $28,355,000 after acquiring an additional 13,554 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Proto Labs during the third quarter worth $753,000. Jane Street Group LLC lifted its stake in Proto Labs by 107.4% in the 3rd quarter. Jane Street Group LLC now owns 97,623 shares of the industrial products company’s stock valued at $2,867,000 after buying an additional 50,556 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Proto Labs by 93.1% in the third quarter. JPMorgan Chase & Co. now owns 139,890 shares of the industrial products company’s stock valued at $4,109,000 after acquiring an additional 67,449 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in Proto Labs by 76.0% during the 4th quarter. Nordea Investment Management AB now owns 244,987 shares of the industrial products company’s stock worth $9,711,000 after purchasing an additional 105,813 shares during the last quarter. Institutional investors own 84.54% of the company’s stock.

Proto Labs Company 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.