Insider Buying: Proto Labs (NYSE:PRLB) CEO Acquires $52,140.00 in Stock

Key Points

• Proto Labs CEO Suresh Krishna bought 750 shares for $52,140 at an average price of $69.52, increasing his direct stake by 2.49% to 30,897 shares.
• The company beat quarterly expectations, reporting EPS of $0.63 versus $0.60 expected and revenue of $154.32 million, up 13.7% year over year.
• Shares traded at $66.64 in Wednesday’s session. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $100.50.

Proto Labs, Inc. (NYSE:PRLB - Get Free Report) CEO Suresh Krishna bought 750 shares of the business's stock in a transaction that occurred on Monday, November 2nd. The stock was purchased at an average price of $69.52 per share, with a total value of $52,140.00. Following the completion of the purchase, the chief executive officer directly owned 30,897 shares of the company's stock, valued at $2,147,959.44. This represents a 2.49% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Proto Labs Price Performance

Shares of Proto Labs stock traded down $2.46 during trading on Wednesday, hitting $66.64. 312,480 shares of the company's stock traded hands, compared to its average volume of 205,119. The company has a market cap of $1.59 billion, a PE ratio of 46.60 and a beta of 1.52. Proto Labs, Inc. has a twelve month low of $46.07 and a twelve month high of $99.96. The firm's fifty day moving average price is $85.89 and its 200 day moving average price is $73.22.

Proto Labs (NYSE:PRLB - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The industrial products company reported $0.63 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $149.31 million. During the same period in the prior year, the company posted $0.47 EPS. The company's revenue was up 13.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Proto Labs, Inc. will post 1.46 earnings per share for the current year.

Institutional Investors Weigh In On Proto Labs

A number of large investors have recently bought and sold shares of PRLB. BlackRock Inc. bought a new stake in shares of Proto Labs during the second quarter valued at approximately $317,581,000. American Capital Management Inc. bought a new position in Proto Labs in the 2nd quarter worth approximately $50,524,000. S Squared Technology LLC bought a new position in Proto Labs in the 2nd quarter worth approximately $23,484,661. Bank of New York Mellon Corp bought a new position in Proto Labs in the 2nd quarter worth approximately $11,720,000. Finally, Bank of America Corp DE acquired a new position in Proto Labs during the 2nd quarter worth $10,270,000. 84.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PRLB shares. William Blair reiterated a "market perform" rating on shares of Proto Labs in a research note on Monday. Weiss Ratings downgraded shares of Proto Labs from a "buy (b)" rating to a "hold (c+)" rating in a research note on Tuesday. Wall Street Zen lowered shares of Proto Labs from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 18th. Zacks Research lowered shares of Proto Labs from a "strong-buy" rating to a "hold" rating in a report 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 equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $100.50.

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.

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