Lazard Asset Management LLC Acquires 23,759 Shares of Proto Labs, Inc. $PRLB

Lazard Asset Management LLC lifted its holdings in Proto Labs, Inc. (NYSE:PRLB) by 31.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,333 shares of the industrial products company’s stock after buying an additional 23,759 shares during the quarter. Lazard Asset Management LLC owned approximately 0.42% of Proto Labs worth $5,664,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PRLB. Royal Bank of Canada grew its holdings in Proto Labs by 51.3% in the first quarter. Royal Bank of Canada now owns 6,510 shares of the industrial products company’s stock worth $228,000 after purchasing an additional 2,207 shares during the period. AQR Capital Management LLC increased its stake in shares of Proto Labs by 3.3% during the first quarter. AQR Capital Management LLC now owns 63,871 shares of the industrial products company’s stock valued at $2,238,000 after purchasing an additional 2,040 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Proto Labs by 7,380.0% during the first quarter. NewEdge Advisors LLC now owns 748 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 738 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Proto Labs by 68.8% during the second quarter. JPMorgan Chase & Co. now owns 21,756 shares of the industrial products company’s stock valued at $871,000 after purchasing an additional 8,864 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Proto Labs in the 2nd quarter worth approximately $480,000. 84.54% of the stock is currently owned by institutional investors.

Insider Transactions at Proto Labs

In other news, insider Michael R. Kenison sold 16,030 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $69.49, for a total transaction of $1,113,924.70. Following the sale, the insider owned 18,683 shares of the company’s stock, valued at $1,298,281.67. This trade represents a 46.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sven Wehrwein sold 2,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $77.28, for a total transaction of $154,560.00. Following the sale, the director directly owned 32,505 shares of the company’s stock, valued at $2,511,986.40. The trade was a 5.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 25,663 shares of company stock worth $1,804,727. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wall Street Zen lowered Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Weiss Ratings raised Proto Labs from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Zacks Research downgraded Proto Labs from a “strong-buy” rating to a “hold” rating in a report on Friday, July 3rd. Finally, Benchmark lifted their price target on Proto Labs from $70.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $65.33.

Proto Labs Stock Up 5.5%

NYSE:PRLB opened at $75.26 on Friday. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 71.00 and a beta of 1.38. The company’s 50 day moving average price is $76.94 and its 200-day moving average price is $66.64. Proto Labs, Inc. has a 52 week low of $40.84 and a 52 week high of $83.15.

Proto Labs (NYSE:PRLB) last announced its quarterly earnings data on Friday, May 1st. The industrial products company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. The company had revenue of $139.34 million during the quarter, compared to analyst estimates of $135.31 million. Proto Labs had a net margin of 4.71% and a return on equity of 4.15%. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 EPS. As a group, sell-side analysts anticipate that Proto Labs, Inc. will post 1.37 earnings per share for the current year.

About Proto Labs

Proto Labs, Inc is a digital manufacturing company that offers on-demand production services for custom parts and prototypes. Utilizing technologies such as 3D printing (additive manufacturing), CNC machining and injection molding, the company transforms digital CAD designs into functional parts on accelerated timelines. Its platform-driven process combines automated quoting, rapid tool generation and manufacturing execution to serve product developers, engineers and small- to medium-sized production runs.

Founded in 1999 by Larry Lukis, Proto Labs has championed the application of digital workflows to traditional manufacturing methods.