Vanguard Group Inc. boosted its position in shares of Proofpoint, Inc. (NASDAQ:PFPT) by 2.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,392,578 shares of the software maker’s stock after purchasing an additional 77,721 shares during the quarter. Vanguard Group Inc. owned about 7.64% of Proofpoint worth $294,577,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in PFPT. D.A. Davidson & CO. raised its holdings in Proofpoint by 57.9% during the 2nd quarter. D.A. Davidson & CO. now owns 1,175 shares of the software maker’s stock worth $102,000 after purchasing an additional 431 shares during the last quarter. Fortaleza Asset Management Inc. raised its holdings in Proofpoint by 22.4% during the 2nd quarter. Fortaleza Asset Management Inc. now owns 1,696 shares of the software maker’s stock worth $147,000 after purchasing an additional 310 shares during the last quarter. Creative Planning raised its holdings in Proofpoint by 7.4% during the 2nd quarter. Creative Planning now owns 2,232 shares of the software maker’s stock worth $194,000 after purchasing an additional 154 shares during the last quarter. Legato Capital Management LLC bought a new stake in Proofpoint during the 2nd quarter worth about $204,000. Finally, Envestnet Asset Management Inc. raised its holdings in Proofpoint by 18.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,897 shares of the software maker’s stock worth $215,000 after purchasing an additional 446 shares during the last quarter.
In other Proofpoint news, EVP David Knight sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $90.76, for a total value of $272,280.00. Following the completion of the sale, the executive vice president now owns 16,874 shares of the company’s stock, valued at $1,531,484.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gary Steele sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $92.35, for a total value of $3,694,000.00. The disclosure for this sale can be found here. Insiders sold 168,549 shares of company stock valued at $15,179,369 in the last three months. Insiders own 6.80% of the company’s stock.
Several brokerages have weighed in on PFPT. Macquarie reissued an “outperform” rating and set a $103.00 price objective on shares of Proofpoint in a report on Tuesday, September 26th. KeyCorp restated a “hold” rating on shares of Proofpoint in a research report on Tuesday, September 19th. Needham & Company LLC restated a “buy” rating and set a $115.00 target price on shares of Proofpoint in a research report on Monday, September 11th. BTIG Research restated a “buy” rating and set a $110.00 target price on shares of Proofpoint in a research report on Monday, September 11th. Finally, Piper Jaffray Companies set a $100.00 target price on Proofpoint and gave the stock a “buy” rating in a research report on Sunday, September 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-two have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $99.08.
Proofpoint, Inc. (PFPT) opened at 92.67 on Wednesday. The company has a 50 day moving average price of $90.57 and a 200 day moving average price of $85.49. Proofpoint, Inc. has a 12 month low of $68.04 and a 12 month high of $97.00. The firm’s market capitalization is $4.12 billion.
Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings data on Thursday, July 27th. The software maker reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.05. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. The firm had revenue of $122.30 million during the quarter, compared to analysts’ expectations of $119.58 million. During the same quarter last year, the firm posted $0.06 earnings per share. The company’s revenue for the quarter was up 36.0% compared to the same quarter last year. Analysts anticipate that Proofpoint, Inc. will post $0.65 earnings per share for the current fiscal year.
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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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