Wellington Management Group LLP Purchases 4,527 Shares of Proto Labs, Inc. (NYSE:PRLB)

Wellington Management Group LLP increased its position in Proto Labs, Inc. (NYSE:PRLB) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 85,245 shares of the industrial products company’s stock after acquiring an additional 4,527 shares during the period. Wellington Management Group LLP owned about 0.33% of Proto Labs worth $3,321,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PRLB. Victory Capital Management Inc. bought a new stake in shares of Proto Labs in the fourth quarter worth approximately $202,000. Partnership Wealth Management LLC bought a new stake in Proto Labs in the 4th quarter worth approximately $2,445,000. Nordea Investment Management AB grew its position in Proto Labs by 14.0% in the 4th quarter. Nordea Investment Management AB now owns 168,464 shares of the industrial products company’s stock worth $6,575,000 after purchasing an additional 20,721 shares during the period. GSA Capital Partners LLP purchased a new stake in Proto Labs during the 3rd quarter valued at $1,130,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of Proto Labs by 265.9% during the 3rd quarter. Hsbc Holdings PLC now owns 24,663 shares of the industrial products company’s stock valued at $649,000 after buying an additional 17,922 shares during the period. 84.54% of the stock is owned by institutional investors.

Proto Labs Stock Up 1.8 %

PRLB stock opened at $30.89 on Monday. The business’s 50-day moving average price is $31.24 and its 200-day moving average price is $34.35. The stock has a market cap of $782.13 million, a P/E ratio of 40.12 and a beta of 1.37. Proto Labs, Inc. has a twelve month low of $23.01 and a twelve month high of $41.87.

Proto Labs (NYSE:PRLB) last issued its quarterly earnings results on Friday, May 3rd. The industrial products company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.07. The business had revenue of $127.89 million for the quarter, compared to the consensus estimate of $123.81 million. Proto Labs had a net margin of 3.92% and a return on equity of 2.88%. On average, equities research analysts expect that Proto Labs, Inc. will post 0.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PRLB has been the subject of several research analyst reports. Benchmark reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Proto Labs in a report on Wednesday, May 29th. Cantor Fitzgerald began coverage on Proto Labs in a research note on Wednesday, June 5th. They set an “overweight” rating and a $44.00 price target for the company. Craig Hallum lowered their price objective on shares of Proto Labs from $38.00 to $34.00 and set a “hold” rating on the stock in a research note on Monday, May 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of Proto Labs in a research report on Monday, May 6th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Proto Labs currently has an average rating of “Moderate Buy” and a consensus target price of $41.25.

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.