Proto Labs, Inc. (NYSE:PRLB) Shares Bought by Tidal Investments LLC

Tidal Investments LLC lifted its stake in shares of Proto Labs, Inc. (NYSE:PRLB) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,156 shares of the industrial products company’s stock after acquiring an additional 494 shares during the period. Tidal Investments LLC owned 0.12% of Proto Labs worth $886,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Canada Pension Plan Investment Board acquired a new position in Proto Labs in the second quarter valued at $37,000. Innealta Capital LLC acquired a new position in shares of Proto Labs in the 2nd quarter valued at about $40,000. KBC Group NV grew its holdings in shares of Proto Labs by 69.3% during the 3rd quarter. KBC Group NV now owns 1,541 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 631 shares during the period. Meeder Asset Management Inc. acquired a new stake in Proto Labs during the 2nd quarter worth approximately $80,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in Proto Labs by 40.6% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,108 shares of the industrial products company’s stock valued at $121,000 after buying an additional 1,186 shares during the period. 84.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRLB has been the subject of several research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $40.00 price objective on shares of Proto Labs in a research note on Monday, November 4th. Craig Hallum increased their price target on Proto Labs from $30.00 to $36.00 and gave the company a “hold” rating in a report on Monday, November 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Proto Labs in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Proto Labs currently has an average rating of “Moderate Buy” and a consensus target price of $40.33.

Proto Labs Price Performance

Shares of PRLB stock opened at $40.72 on Friday. The company’s fifty day moving average price is $36.74 and its two-hundred day moving average price is $32.59. The firm has a market capitalization of $998.05 million, a P/E ratio of 43.32 and a beta of 1.45. Proto Labs, Inc. has a 12 month low of $25.75 and a 12 month high of $45.15.

Proto Labs (NYSE:PRLB) last released its quarterly earnings results on Friday, November 1st. The industrial products company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.32 by $0.15. Proto Labs had a return on equity of 3.49% and a net margin of 4.76%. The business had revenue of $125.60 million for the quarter, compared to analysts’ expectations of $121.38 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The company’s revenue was down 3.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Proto Labs, Inc. will post 0.84 EPS for the current year.

Proto Labs 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.