National Bank of Canada FI Lowers Holdings in Proto Labs, Inc. (NYSE:PRLB)

National Bank of Canada FI trimmed its holdings in Proto Labs, Inc. (NYSE:PRLB) by 47.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,348 shares of the industrial products company’s stock after selling 10,228 shares during the period. National Bank of Canada FI’s holdings in Proto Labs were worth $444,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in PRLB. Modus Advisors LLC bought a new stake in shares of Proto Labs in the fourth quarter worth about $87,000. KLP Kapitalforvaltning AS bought a new stake in shares of Proto Labs in the fourth quarter worth about $192,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Proto Labs in the fourth quarter worth about $205,000. LPL Financial LLC bought a new stake in shares of Proto Labs in the fourth quarter worth about $210,000. Finally, Versor Investments LP bought a new stake in Proto Labs during the fourth quarter worth approximately $235,000. 84.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on PRLB. StockNews.com cut Proto Labs from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a research note on Friday, February 7th. Finally, Cantor Fitzgerald upped their target price on Proto Labs from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.67.

Proto Labs Stock Up 12.6 %

Proto Labs stock opened at $35.05 on Thursday. The business has a fifty day moving average of $38.47 and a two-hundred day moving average of $37.17. The firm has a market cap of $849.37 million, a P/E ratio of 53.92 and a beta of 1.52. Proto Labs, Inc. has a twelve month low of $25.76 and a twelve month high of $46.73.

Proto Labs declared that its board has initiated a stock repurchase plan on Friday, February 7th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 9.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.