Proto Labs, Inc. (NYSE:PRLB) CEO Suresh Krishna Acquires 1,725 Shares

Key Points

• Suresh Krishna, CEO of Proto Labs, acquired 1,725 shares of the company at an average price of $43.51, increasing his ownership by 10.59%.
• Proto Labs reported $0.41 EPS for the last quarter, exceeding estimates, with a revenue of $135.06 million, reflecting a 7.6% year-over-year increase.
• Several firms, including Craig Hallum and Cantor Fitzgerald, upgraded their ratings and set new price targets, with Craig Hallum raising it to $54.00 and Cantor Fitzgerald to $51.00.

Proto Labs, Inc. (NYSE:PRLB - Get Free Report) CEO Suresh Krishna bought 1,725 shares of the firm's stock in a transaction on Monday, August 4th. The shares were bought at an average cost of $43.51 per share, with a total value of $75,054.75. Following the transaction, the chief executive officer directly owned 18,021 shares of the company's stock, valued at approximately $784,093.71. This trade represents a 10.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Proto Labs Trading Up 0.7%

PRLB stock traded up $0.32 during midday trading on Friday, hitting $46.61. The stock had a trading volume of 235,307 shares, compared to its average volume of 204,982. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 77.68 and a beta of 1.33. Proto Labs, Inc. has a 52 week low of $26.34 and a 52 week high of $48.00. The stock has a 50-day simple moving average of $40.04 and a 200 day simple moving average of $38.79.

Proto Labs (NYSE:PRLB - Get Free Report) last issued its earnings results on Thursday, July 31st. The industrial products company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.33 by $0.08. The firm had revenue of $135.06 million during the quarter, compared to analysts' expectations of $128.05 million. Proto Labs had a return on equity of 2.22% and a net margin of 2.91%. Proto Labs's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $0.38 earnings per share. On average, equities analysts forecast that Proto Labs, Inc. will post 0.81 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Proto Labs by 4.1% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,103 shares of the industrial products company's stock valued at $244,000 after buying an additional 238 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Proto Labs by 14.1% in the first quarter. PNC Financial Services Group Inc. now owns 2,165 shares of the industrial products company's stock valued at $76,000 after buying an additional 267 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Proto Labs by 0.8% in the fourth quarter. American Century Companies Inc. now owns 52,579 shares of the industrial products company's stock valued at $2,055,000 after buying an additional 404 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Proto Labs by 0.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,626 shares of the industrial products company's stock valued at $3,152,000 after buying an additional 437 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Proto Labs by 4.1% in the second quarter. State of Alaska Department of Revenue now owns 14,137 shares of the industrial products company's stock valued at $565,000 after buying an additional 556 shares in the last quarter. 84.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wall Street Zen raised Proto Labs from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Craig Hallum raised Proto Labs from a "hold" rating to a "buy" rating and set a $54.00 price objective for the company in a research report on Friday, August 1st. Finally, Cantor Fitzgerald increased their price objective on Proto Labs from $50.00 to $51.00 and gave the company an "overweight" rating in a research report on Friday, August 1st.

About Proto Labs

Proto Labs, Inc, together with its subsidiaries, operates as a digital manufacturer of custom parts in the United States and Europe. The company offers injection molding; computer numerical control machining; three-dimensional printing; and sheet metal fabrication products. It serves developers and engineers, who use 3D computer-aided design software to design products across a range of end-markets.