National Bank of Canada FI Decreases Stock 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 fourth quarter, HoldingsChannel reports. The firm 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 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Modus Advisors LLC acquired a new stake in shares of Proto Labs during the 4th quarter worth approximately $87,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Proto Labs during the 4th quarter worth approximately $192,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Proto Labs during the 4th quarter worth approximately $205,000. LPL Financial LLC acquired a new stake in shares of Proto Labs during the 4th quarter worth approximately $210,000. Finally, Versor Investments LP acquired a new stake in shares of Proto Labs during the 4th quarter worth approximately $235,000. 84.54% of the stock is owned by hedge funds and other institutional investors.

Proto Labs Price Performance

Shares of PRLB opened at $35.05 on Thursday. Proto Labs, Inc. has a 1-year low of $25.76 and a 1-year high of $46.73. The stock has a market cap of $849.37 million, a PE ratio of 53.92 and a beta of 1.52. The firm has a fifty day moving average price of $38.47 and a 200 day moving average price of $37.17.

Proto Labs declared that its board has approved a share repurchase plan on Friday, February 7th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 9.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Cantor Fitzgerald raised their price target on shares of Proto Labs from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Proto Labs in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.67.

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.