Tocqueville Asset Management L.P. lowered its position in shares of Proofpoint, Inc. (NASDAQ:PFPT) by 12.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 44,750 shares of the software maker’s stock after selling 6,350 shares during the period. Tocqueville Asset Management L.P. owned about 0.10% of Proofpoint worth $3,886,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Fortaleza Asset Management Inc. boosted its stake in shares of Proofpoint by 22.4% in the second quarter. Fortaleza Asset Management Inc. now owns 1,696 shares of the software maker’s stock worth $147,000 after buying an additional 310 shares during the last quarter. Creative Planning boosted its stake in shares of Proofpoint by 7.4% in the second quarter. Creative Planning now owns 2,232 shares of the software maker’s stock worth $194,000 after buying an additional 154 shares during the last quarter. Legato Capital Management LLC acquired a new stake in shares of Proofpoint during the second quarter worth about $204,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Proofpoint by 400.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 2,500 shares of the software maker’s stock worth $185,000 after buying an additional 2,000 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Proofpoint during the second quarter worth about $225,000.
Proofpoint, Inc. (NASDAQ PFPT) opened at 90.36 on Friday. Proofpoint, Inc. has a 12 month low of $68.04 and a 12 month high of $94.33. The stock’s market capitalization is $4.01 billion. The company has a 50-day moving average of $88.11 and a 200 day moving average of $83.04.
Proofpoint (NASDAQ:PFPT) last released its quarterly earnings data on Thursday, July 27th. The software maker reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.05. Proofpoint had a negative net margin of 20.96% and a negative return on equity of 140.24%. The firm had revenue of $122.30 million during the quarter, compared to analysts’ expectations of $119.58 million. During the same period last year, the business earned $0.06 earnings per share. Proofpoint’s revenue was up 36.0% compared to the same quarter last year. On average, equities research analysts anticipate that Proofpoint, Inc. will post $0.65 earnings per share for the current fiscal year.
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A number of brokerages have issued reports on PFPT. Cowen and Company began coverage on shares of Proofpoint in a report on Thursday, August 17th. They set an “outperform” rating and a $105.00 target price on the stock. Zacks Investment Research cut shares of Proofpoint from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Imperial Capital reissued an “outperform” rating and set a $102.00 target price (up previously from $100.00) on shares of Proofpoint in a report on Wednesday, August 2nd. Piper Jaffray Companies set a $100.00 target price on shares of Proofpoint and gave the company a “buy” rating in a report on Thursday, July 27th. Finally, Needham & Company LLC began coverage on shares of Proofpoint in a report on Friday, July 21st. They set a “buy” rating and a $115.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and twenty-one have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $93.43.
In related news, SVP Robert Darren Lee sold 2,750 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $87.75, for a total transaction of $241,312.50. Following the completion of the sale, the senior vice president now directly owns 7,619 shares in the company, valued at $668,567.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gary Steele sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $87.11, for a total transaction of $3,484,400.00. Following the sale, the chief executive officer now owns 88,551 shares of the company’s stock, valued at $7,713,677.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 156,299 shares of company stock valued at $13,844,053. 6.80% of the stock is owned by company insiders.
Proofpoint Company Profile
Proofpoint, Inc is a security-as-a-service provider that enables large and mid-sized organizations to defend, protect, archive and govern their sensitive data. The Company’s security-as-a-service platform consists of an integrated suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication.
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