Proto Labs (PRLB) Lowered to “Hold” at Zacks Investment Research
Proto Labs (NYSE:PRLB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Proto Labs, Inc. is an online and technology-enabled quick-turn manufacturer of custom parts for prototyping and short-run production. It produces CNC machined and injection molded plastic parts. Proto Labs targets their services to product developers who use three-dimensional computer-aided design to develop products across a diverse range of end-markets. The Company has locations in the United States, the United Kingdom, Germany, Japan, Italy, France, and Spain. Proto Labs, Inc. is headquartered in Maple Plain, Minnesota. “
Shares of PRLB opened at $159.35 on Wednesday. Proto Labs has a fifty-two week low of $77.30 and a fifty-two week high of $166.60. The stock has a market capitalization of $4.29 billion, a P/E ratio of 82.56, a PEG ratio of 2.85 and a beta of 1.22.
In other Proto Labs news, Director John B. Goodman sold 1,113 shares of Proto Labs stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $162.95, for a total transaction of $181,363.35. Following the completion of the transaction, the director now owns 12,655 shares of the company’s stock, valued at approximately $2,062,132.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John Way sold 3,912 shares of Proto Labs stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $145.79, for a total value of $570,330.48. Following the transaction, the chief financial officer now directly owns 29,415 shares of the company’s stock, valued at approximately $4,288,412.85. The disclosure for this sale can be found here. In the last three months, insiders sold 23,934 shares of company stock valued at $3,663,441. 0.64% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of PRLB. Wells Fargo & Company MN grew its holdings in Proto Labs by 7.5% during the 1st quarter. Wells Fargo & Company MN now owns 46,132 shares of the industrial products company’s stock valued at $5,423,000 after buying an additional 3,208 shares in the last quarter. SG Americas Securities LLC purchased a new position in Proto Labs during the 1st quarter valued at about $188,000. Swiss National Bank grew its holdings in Proto Labs by 3.5% during the 1st quarter. Swiss National Bank now owns 44,000 shares of the industrial products company’s stock valued at $5,172,000 after buying an additional 1,500 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Proto Labs by 6.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 126,829 shares of the industrial products company’s stock valued at $14,909,000 after buying an additional 8,120 shares in the last quarter. Finally, Aperio Group LLC grew its holdings in Proto Labs by 5.3% during the 1st quarter. Aperio Group LLC now owns 8,527 shares of the industrial products company’s stock valued at $1,002,000 after buying an additional 430 shares in the last quarter. 96.65% of the stock is owned by institutional investors and hedge funds.
About Proto Labs
Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce enabled digital manufacturer of custom parts for prototyping and short-run production worldwide. It utilizes injection molding, computer numerical control machining, three-dimensional (3D) printing, and sheet metal fabrication to manufacture custom parts for developers and engineers who use 3D computer-aided design software to design products across a range of end markets.
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