Insider Buying: Proto Labs (NYSE:PRLB) Director Purchases 720 Shares of Stock

Proto Labs, Inc. (NYSE:PRLB) Director Rainer Gawlick purchased 720 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were acquired at an average price of $68.18 per share, with a total value of $49,089.60. Following the purchase, the director owned 46,813 shares in the company, valued at $3,191,710.34. This trade represents a 1.56% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Proto Labs Stock Performance

Proto Labs stock traded down $2.46 during midday trading on Wednesday, hitting $66.64. 312,480 shares of the company’s stock were exchanged, compared to its average volume of 205,119. Proto Labs, Inc. has a 12-month low of $46.07 and a 12-month high of $99.96. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 46.60 and a beta of 1.52. The firm’s 50 day simple moving average is $85.89 and its 200 day simple moving average is $73.22.

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

Analyst Ratings Changes

PRLB has been the subject of several research reports. William Blair reaffirmed a “market perform” rating on shares of Proto Labs in a report on Monday. Needham & Company LLC upped their target price on Proto Labs from $87.00 to $110.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Wall Street Zen cut Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Zacks Research downgraded Proto Labs from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Proto Labs in a research report on Tuesday, October 27th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Proto Labs during the second quarter worth approximately $317,581,000. American Capital Management Inc. purchased a new stake in shares of Proto Labs during the 2nd quarter valued at $50,524,000. S Squared Technology LLC acquired a new stake in shares of Proto Labs during the 2nd quarter worth $23,484,661. Bank of New York Mellon Corp acquired a new stake in shares of Proto Labs during the 2nd quarter worth $11,720,000. Finally, Bank of America Corp DE purchased a new position in shares of Proto Labs in the 2nd quarter worth $10,270,000. Institutional investors and hedge funds own 84.54% of the company’s stock.

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.