Victory Capital Management Inc. decreased its position in Proofpoint, Inc. (NASDAQ:PFPT) by 34.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 630,762 shares of the software maker’s stock after selling 332,970 shares during the quarter. Victory Capital Management Inc. owned 1.42% of Proofpoint worth $55,015,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the business. Federated Investors Inc. PA boosted its stake in shares of Proofpoint by 63.8% during the 2nd quarter. Federated Investors Inc. PA now owns 85,435 shares of the software maker’s stock valued at $7,419,000 after buying an additional 33,290 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in Proofpoint by 20.4% during the second quarter. Artisan Partners Limited Partnership now owns 2,786,122 shares of the software maker’s stock worth $241,919,000 after purchasing an additional 472,407 shares during the last quarter. Brighton Jones LLC bought a new position in Proofpoint during the second quarter worth $285,000. California Public Employees Retirement System lifted its stake in Proofpoint by 4.2% during the second quarter. California Public Employees Retirement System now owns 87,100 shares of the software maker’s stock worth $7,563,000 after purchasing an additional 3,500 shares during the last quarter. Finally, ETF Managers Group LLC bought a new position in Proofpoint during the second quarter worth $43,157,000.
In related news, CEO Gary Steele sold 40,000 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $88.60, for a total value of $3,544,000.00. Following the sale, the chief executive officer now owns 88,551 shares of the company’s stock, valued at approximately $7,845,618.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David Knight sold 3,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 16,874 shares in the company, valued at approximately $1,531,484.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 176,549 shares of company stock worth $16,005,520. Company insiders own 5.96% of the company’s stock.
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Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, October 19th. The software maker reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.07. The company had revenue of $134.30 million for the quarter, compared to the consensus estimate of $131.48 million. Proofpoint had a negative return on equity of 158.19% and a negative net margin of 20.19%. The company’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 EPS. research analysts forecast that Proofpoint, Inc. will post -0.88 EPS for the current year.
Several equities analysts recently issued reports on PFPT shares. Northland Securities restated a “buy” rating and set a $100.00 price objective on shares of Proofpoint in a research note on Thursday, September 7th. Evercore ISI set a $105.00 target price on Proofpoint and gave the stock a “buy” rating in a research report on Friday, October 20th. Robert W. Baird reaffirmed a “hold” rating and issued a $95.00 target price on shares of Proofpoint in a research report on Friday, September 8th. Piper Jaffray Companies set a $105.00 target price on Proofpoint and gave the stock a “buy” rating in a research report on Friday, October 20th. Finally, UBS AG initiated coverage on Proofpoint in a research report on Tuesday, October 31st. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $101.70.
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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