Envestnet Asset Management Inc. Buys 7,360 Shares of Proto Labs, Inc. (NYSE:PRLB)

Envestnet Asset Management Inc. grew its stake in Proto Labs, Inc. (NYSE:PRLB - Free Report) by 77.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,869 shares of the industrial products company's stock after acquiring an additional 7,360 shares during the quarter. Envestnet Asset Management Inc. owned 0.06% of Proto Labs worth $559,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Point72 Hong Kong Ltd bought a new stake in Proto Labs during the 2nd quarter worth approximately $29,000. Quantbot Technologies LP acquired a new stake in shares of Proto Labs in the 2nd quarter valued at approximately $30,000. Gladius Capital Management LP acquired a new stake in shares of Proto Labs in the 4th quarter valued at approximately $36,000. State of Wyoming boosted its holdings in shares of Proto Labs by 40.0% in the 4th quarter. State of Wyoming now owns 1,505 shares of the industrial products company's stock valued at $38,000 after buying an additional 430 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Proto Labs by 339.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,684 shares of the industrial products company's stock valued at $43,000 after buying an additional 1,301 shares during the last quarter. 84.70% of the stock is owned by institutional investors.

Separately, StockNews.com raised Proto Labs from a "buy" rating to a "strong-buy" rating in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Proto Labs currently has an average rating of "Moderate Buy" and a consensus price target of $36.67.

Proto Labs stock traded down $0.08 during mid-day trading on Tuesday, hitting $33.07. 170,484 shares of the company's stock traded hands, compared to its average volume of 203,059. The firm has a 50 day simple moving average of $34.00 and a two-hundred day simple moving average of $32.16. Proto Labs, Inc. has a fifty-two week low of $22.04 and a fifty-two week high of $53.00. The stock has a market cap of $866.53 million, a price-to-earnings ratio of -8.46 and a beta of 1.21.

Proto Labs (NYSE:PRLB - Get Free Report) last posted its quarterly earnings data on Friday, May 5th. The industrial products company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.04. Proto Labs had a negative return on equity of 14.06% and a negative net margin of 21.61%. The firm had revenue of $125.86 million for the quarter, compared to analysts' expectations of $118.24 million. On average, research analysts anticipate that Proto Labs, Inc. will post 0.47 earnings per share for the current fiscal year.

Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce digital manufacturer of custom prototypes and on-demand production parts in the worldwide. The company offers injection molding; computer numerical control machining; three-dimensional (3D) printing, which include stereolithography, selective laser sintering, direct metal laser sintering, multi jet fusion, polyjet, and carbon DLS processes; and sheet metal fabrication products, including quick-turn and e-commerce-enabled custom sheet metal parts.

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