Proto Labs (NYSE:PRLB) Trading Down 4.7% – Here’s Why

Shares of Proto Labs, Inc. (NYSE:PRLB) traded down 4.7% during trading on Monday . The stock traded as low as $36.21 and last traded at $36.21. 51,821 shares traded hands during trading, a decline of 73% from the average session volume of 189,782 shares. The stock had previously closed at $38.00.

Analyst Ratings Changes

PRLB has been the subject of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and set a $40.00 target price on shares of Proto Labs in a report on Monday. Needham & Company LLC restated a “hold” rating on shares of Proto Labs in a report on Friday. StockNews.com lowered Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 5th. Finally, Craig Hallum lifted their price target on Proto Labs from $30.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Proto Labs has an average rating of “Moderate Buy” and a consensus target price of $40.33.

Proto Labs Trading Down 9.8 %

The firm has a 50-day simple moving average of $28.99 and a two-hundred day simple moving average of $30.44. The company has a market capitalization of $861.64 million, a price-to-earnings ratio of 35.83 and a beta of 1.32.

Proto Labs (NYSE:PRLB) last issued its quarterly earnings data on Friday, November 1st. The industrial products company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.15. Proto Labs had a net margin of 4.86% and a return on equity of 3.60%. The firm had revenue of $125.60 million for the quarter, compared to analyst estimates of $121.38 million. During the same quarter last year, the firm earned $0.31 earnings per share. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, sell-side analysts forecast that Proto Labs, Inc. will post 0.7 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Robert Bodor acquired 3,480 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $28.68 per share, with a total value of $99,806.40. Following the purchase, the chief executive officer now owns 80,878 shares of the company’s stock, valued at approximately $2,319,581.04. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PRLB. Assenagon Asset Management S.A. lifted its position in Proto Labs by 22.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 299,848 shares of the industrial products company’s stock worth $8,807,000 after acquiring an additional 55,932 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its position in shares of Proto Labs by 1.9% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,946,349 shares of the industrial products company’s stock worth $60,123,000 after purchasing an additional 36,510 shares during the last quarter. Meros Investment Management LP boosted its stake in Proto Labs by 1.6% during the 2nd quarter. Meros Investment Management LP now owns 139,816 shares of the industrial products company’s stock valued at $4,319,000 after purchasing an additional 2,252 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in Proto Labs in the 2nd quarter valued at approximately $591,000. Finally, AQR Capital Management LLC grew its holdings in Proto Labs by 75.2% in the 2nd quarter. AQR Capital Management LLC now owns 35,489 shares of the industrial products company’s stock valued at $1,096,000 after buying an additional 15,230 shares during the last quarter. 84.54% of the stock is currently owned by institutional investors and hedge funds.

Proto Labs Company Profile

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.