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

Proto Labs, Inc. (NYSE:PRLB) CEO Suresh Krishna purchased 750 shares of the stock in a transaction on Monday, November 2nd. The stock was bought at an average cost of $69.52 per share, for a total transaction of $52,140.00. Following the completion of the acquisition, the chief executive officer owned 30,897 shares in the company, valued at approximately $2,147,959.44. This trade represents a 2.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Proto Labs Stock Down 5.6%

Shares of PRLB stock opened at $62.74 on Friday. The firm has a 50 day moving average price of $85.35 and a two-hundred day moving average price of $73.32. The company has a market capitalization of $1.50 billion, a PE ratio of 43.87 and a beta of 1.52. Proto Labs, Inc. has a 12-month low of $46.07 and a 12-month high of $99.96.

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

Institutional Investors Weigh In On Proto Labs

Several institutional investors have recently made changes to their positions in the stock. Balance Wealth Partners LLC bought a new position in Proto Labs in the third quarter valued at approximately $36,000. Public Employees Retirement System of Ohio acquired a new position in Proto Labs during the second quarter valued at approximately $37,000. Fortitude Family Office LLC acquired a new position in Proto Labs during the third quarter valued at approximately $40,000. Signaturefd LLC lifted its stake in Proto Labs by 240.0% during the third quarter. Signaturefd LLC now owns 527 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 372 shares during the last quarter. Finally, USA Financial Formulas bought a new stake in Proto Labs during the first quarter worth $52,000. 84.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PRLB has been the topic of a number of research reports. Weiss Ratings lowered Proto Labs from a “buy (b)” rating to a “hold (c+)” rating in a report on Tuesday. Needham & Company LLC lifted their target price on Proto Labs from $87.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Zacks Research cut shares of Proto Labs from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. 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 research report on Tuesday, October 27th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $100.50.

About Proto Labs

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.