Proto Labs (NYSE:PRLB) CEO Suresh Krishna Buys 750 Shares of Stock

Proto Labs, Inc. (NYSE:PRLB) CEO Suresh Krishna purchased 750 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were purchased at an average price of $69.52 per share, for a total transaction of $52,140.00. Following the purchase, the chief executive officer owned 30,897 shares of the company’s stock, valued at approximately $2,147,959.44. This trade represents a 2.49% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Proto Labs Stock Performance

NYSE:PRLB opened at $66.64 on Thursday. The firm has a market cap of $1.59 billion, a P/E ratio of 46.60 and a beta of 1.52. Proto Labs, Inc. has a one year low of $46.07 and a one year high of $99.96. The firm has a 50-day simple moving average of $85.67 and a 200-day simple moving average of $73.28.

Proto Labs (NYSE:PRLB) last posted its earnings results on Thursday, October 29th. The industrial products company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Proto Labs had a return on equity of 5.40% and a net margin of 6.04%. The company had revenue of $154.32 million during the quarter, compared to analyst estimates of $149.31 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. Proto Labs’s revenue was up 13.7% on a year-over-year basis. On average, research analysts predict that Proto Labs, Inc. will post 1.46 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PRLB shares. Weiss Ratings downgraded shares of Proto Labs from a “buy (b)” rating to a “hold (c+)” rating in a report on Tuesday. Zacks Research cut shares of Proto Labs from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. Needham & Company LLC boosted their target price on shares of Proto Labs from $87.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. William Blair restated a “market perform” rating on shares of Proto Labs in a research note on Monday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Proto Labs in a report on Tuesday, October 27th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $100.50.

Institutional Trading of Proto Labs

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Proto Labs in the second quarter worth about $317,581,000. American Capital Management Inc. acquired a new stake in shares of Proto Labs during the 2nd quarter valued at about $50,524,000. Renaissance Technologies LLC grew its position in shares of Proto Labs by 5.4% during the 1st quarter. Renaissance Technologies LLC now owns 520,251 shares of the industrial products company’s stock valued at $29,665,000 after acquiring an additional 26,700 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Proto Labs by 0.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 463,780 shares of the industrial products company’s stock valued at $26,445,000 after purchasing an additional 3,162 shares in the last quarter. Finally, S Squared Technology LLC purchased a new position in shares of Proto Labs in the 2nd quarter valued at about $23,484,661. 84.54% of the stock is owned by institutional investors and hedge funds.

Proto Labs Company Profile

Proto Labs, Inc (NYSE: PRLB), operating as Protolabs, is a digital manufacturing company that provides rapid prototyping and on-demand production services. The company uses automated quoting and manufacturing systems to help engineers and product developers produce custom parts without relying on traditional, lengthy tooling and procurement processes.

Protolabs offers computer numerical control (CNC) machining, injection molding, 3D printing and sheet-metal fabrication. Its services support the development and production of components in a range of materials and are used across industries including automotive, aerospace, medical, electronics and consumer products.

Founded in 1999 by entrepreneur Larry Lukis, the company has expanded its reach beyond its original U.S.