Lisanti Capital Growth LLC Buys New Holdings in Proto Labs, Inc. $PRLB

Lisanti Capital Growth LLC purchased a new stake in Proto Labs, Inc. (NYSE:PRLB) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 33,650 shares of the industrial products company’s stock, valued at approximately $3,192,000. Lisanti Capital Growth LLC owned approximately 0.14% of Proto Labs at the end of the most recent reporting period.

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

Insider Transactions at Proto Labs

In related news, Director Rainer Gawlick acquired 720 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The stock was purchased at an average price of $68.18 per share, with a total value of $49,089.60. Following the transaction, the director 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 filing with the SEC, which is available at the SEC website. Also, CEO Suresh Krishna bought 750 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was bought at an average price of $69.52 per share, with a total value of $52,140.00. Following the acquisition, the chief executive officer directly owned 30,897 shares in the company, valued at $2,147,959.44. The trade was a 2.49% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have sold 10,000 shares of company stock worth $902,629. 1.30% of the stock is currently owned by insiders.

Proto Labs Trading Up 1.8%

Shares of PRLB opened at $69.18 on Thursday. The company’s 50-day moving average price is $84.43 and its 200 day moving average price is $73.60. Proto Labs, Inc. has a 12-month low of $46.07 and a 12-month high of $99.96. The firm has a market cap of $1.65 billion, a P/E ratio of 48.38 and a beta of 1.52.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on PRLB. Weiss Ratings downgraded shares of Proto Labs from a “buy (b)” rating to a “hold (c+)” rating in a research note on Tuesday, November 3rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Proto Labs in a research note on Tuesday, October 27th. Wall Street Zen downgraded 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 research report on Friday, October 2nd. Finally, Needham & Company LLC upped their price objective on Proto Labs from $87.00 to $110.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $100.50.

Proto Labs Profile

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.