33,650 Shares of Proto Labs, Inc. $PRLB Purchased by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC purchased a new position in shares of Proto Labs, Inc. (NYSE:PRLB) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 33,650 shares of the industrial products company’s stock, valued at approximately $3,192,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PRLB. Jefferies Financial Group Inc. lifted its holdings in Proto Labs by 40.5% during the 3rd quarter. Jefferies Financial Group Inc. now owns 15,045 shares of the industrial products company’s stock worth $1,427,000 after buying an additional 4,335 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in Proto Labs by 27.4% in the 3rd quarter. Pictet Asset Management Holding SA now owns 3,995 shares of the industrial products company’s stock valued at $379,000 after buying an additional 860 shares during the period. CenterBook Partners LP grew its stake in shares of Proto Labs by 16.9% in the third quarter. CenterBook Partners LP now owns 6,876 shares of the industrial products company’s stock worth $652,000 after acquiring an additional 996 shares in the last quarter. Summit Global Investments grew its stake in shares of Proto Labs by 12.2% in the third quarter. Summit Global Investments now owns 4,010 shares of the industrial products company’s stock worth $380,000 after acquiring an additional 436 shares in the last quarter. Finally, Balance Wealth Partners LLC purchased a new stake in shares of Proto Labs during the third quarter worth $36,000. Hedge funds and other institutional investors own 84.54% of the company’s stock.

Proto Labs Trading Up 1.8%

Shares of PRLB stock opened at $69.18 on Thursday. The firm has a fifty day moving average price of $84.43 and a 200 day moving average price of $73.60. The company has a market cap of $1.65 billion, a P/E ratio of 48.38 and a beta of 1.52. Proto Labs, Inc. has a 12 month low of $46.07 and a 12 month high of $99.96.

Proto Labs (NYSE:PRLB) last posted its earnings results on Thursday, October 29th. The industrial products company reported $0.63 EPS 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 firm had revenue of $154.32 million for the quarter, compared to analyst estimates of $149.31 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. Proto Labs’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, equities analysts forecast that Proto Labs, Inc. will post 1.52 EPS for the current year.

Analysts Set New Price Targets

PRLB has been the topic of several analyst reports. Needham & Company LLC increased their price objective on Proto Labs from $87.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Weiss Ratings lowered Proto Labs from a “buy (b)” rating to a “hold (c+)” rating in a research report on Tuesday, November 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Proto Labs in a research report on Tuesday, October 27th. William Blair reiterated a “market perform” rating on shares of Proto Labs in a research note on Monday, November 2nd. Finally, Wall Street Zen cut shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $100.50.

Insider Transactions at Proto Labs

In other news, CFO Daniel Schumacher sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $95.32, for a total transaction of $476,600.00. Following the sale, the chief financial officer owned 35,019 shares of the company’s stock, valued at approximately $3,338,011.08. This trade represents a 12.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rainer Gawlick bought 720 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The shares were acquired at an average cost of $68.18 per share, for a total transaction of $49,089.60. Following the transaction, the director directly owned 46,813 shares in the company, valued at approximately $3,191,710.34. This represents a 1.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 10,000 shares of company stock valued at $902,629. 1.30% of the stock is currently owned by corporate insiders.

About Proto Labs

Proto Labs, Inc. is a digital manufacturing company that helps businesses make custom parts for product development and production. Its services connect customers with manufacturing capabilities through an online platform, supporting projects from prototypes to production runs. The company offers injection molding, computer numerical control (CNC) machining, 3D printing and sheet metal fabrication. Customers can submit designs online for review and receive quotes and feedback intended to help them assess and refine parts before manufacturing.