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

Key Points

• Proto Labs director Rainer Gawlick bought 720 shares for about $49,090 at an average price of $68.18, increasing his stake by 1.56% to 46,813 shares.
• The company reported quarterly results above expectations: EPS of $0.63 versus $0.60 estimated, and revenue of $154.32 million versus $149.31 million expected; revenue rose 13.7% year over year.
• Shares fell 3.6% to $66.64 in Wednesday trading. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $100.50.

Proto Labs, Inc. (NYSE:PRLB - Get Free Report) Director Rainer Gawlick bought 720 shares of the business's stock in a transaction that occurred on Tuesday, November 3rd. The shares were purchased at an average price of $68.18 per share, for a total transaction of $49,089.60. Following the completion of the purchase, the director directly owned 46,813 shares of the company's stock, valued at approximately $3,191,710.34. This trade represents a 1.56% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Proto Labs Trading Down 3.6%

NYSE:PRLB traded down $2.46 during mid-day trading on Wednesday, hitting $66.64. The stock had a trading volume of 312,480 shares, compared to its average volume of 205,119. The stock has a 50-day simple moving average of $85.89 and a two-hundred day simple moving average of $73.22. The company has a market capitalization 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.

Proto Labs (NYSE:PRLB - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The industrial products company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. Proto Labs had a net margin of 6.04% and a return on equity of 5.40%. The company had revenue of $154.32 million during the quarter, compared to analysts' expectations of $149.31 million. During the same quarter in the previous year, the business posted $0.47 EPS. The firm's revenue was up 13.7% on a year-over-year basis. Sell-side analysts predict that Proto Labs, Inc. will post 1.46 EPS for the current fiscal year.

Institutional Trading of Proto Labs

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Proto Labs in the 2nd quarter valued at about $317,581,000. American Capital Management Inc. purchased a new position in Proto Labs during the 2nd quarter worth approximately $50,524,000. Renaissance Technologies LLC increased its position in Proto Labs by 5.4% during the first quarter. Renaissance Technologies LLC now owns 520,251 shares of the industrial products company's stock worth $29,665,000 after buying an additional 26,700 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Proto Labs by 0.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 463,780 shares of the industrial products company's stock worth $26,445,000 after buying an additional 3,162 shares during the period. Finally, S Squared Technology LLC purchased a new stake in Proto Labs in the second quarter valued at approximately $23,484,661. Institutional investors and hedge funds own 84.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PRLB. Zacks Research downgraded Proto Labs from a "strong-buy" rating to a "hold" rating in a report on Friday, October 2nd. Wall Street Zen cut Proto Labs from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 18th. William Blair reaffirmed a "market perform" rating on shares of Proto Labs in a report on Monday. Cantor Fitzgerald reiterated an "overweight" rating on shares of Proto Labs in a research note on Tuesday, October 27th. Finally, Weiss Ratings cut shares of Proto Labs from a "buy (b)" rating to a "hold (c+)" rating in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Proto Labs currently has a consensus rating of "Moderate Buy" and an average target price 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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