1 week Ago By ABMN Staff
Norges Bank purchased a new stake in Proto Labs, Inc. ( NYSE:PRLB – Free Report ) during the fourth quarter, HoldingsChannel.com reports.
The fund purchased 49,800 shares of the industrial products company’s stock, valued at approximately $1,947,000. Other institutional investors and hedge funds also recently made changes to their positions in the company. Modus Advisors LLC acquired a new position in shares of Proto Labs during the fourth quarter worth about $87,000.
KLP Kapitalforvaltning AS bought a new stake in Proto Labs in the 4th quarter valued at approximately $192,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Proto Labs during the 4th quarter worth approximately $205,000. LPL Financial LLC acquired a new stake in shares of Proto Labs in the fourth quarter valued at approximately $210,000.
Finally, Versor Investments LP bought a new stake in shares of Proto Labs in the fourth quarter worth $235,000. Institutional investors and hedge funds own 84.54% of the company’s stock.
Wall Street Analysts Forecast Growth PRLB has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a research report on Friday, February 7th. Cantor Fitzgerald upped their price objective on Proto Labs from $40.
00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, StockNews.
com cut shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.
67. Proto Labs Stock Up 3.3 % NYSE:PRLB opened at $34.
77 on Friday. Proto Labs, Inc. has a 12-month low of $25.
76 and a 12-month high of $46.73. The stock’s 50 day moving average price is $38.
14 and its two-hundred day moving average price is $37.24. The firm has a market capitalization of $842.
65 million, a price-to-earnings ratio of 53.50 and a beta of 1.52.
Proto Labs announced that its board has initiated a share repurchase program on Friday, February 7th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the industrial products company to reacquire up to 9.
8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued. Proto Labs Profile ( Free Report ) 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. See Also Want to see what other hedge funds are holding PRLB? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Proto Labs, Inc. ( NYSE:PRLB – Free Report ). Receive News & Ratings for Proto Labs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proto Labs and related companies with MarketBeat.
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