Eagle Asset Management Inc. Has $74.09 Million Stake in Proofpoint Inc (NASDAQ:PFPT)

Eagle Asset Management Inc. reduced its stake in shares of Proofpoint Inc (NASDAQ:PFPT) by 3.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 835,466 shares of the software maker’s stock after selling 25,962 shares during the period. Eagle Asset Management Inc. owned approximately 1.86% of Proofpoint worth $74,089,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. D.A. Davidson & CO. lifted its stake in Proofpoint by 57.9% in the second 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. lifted its stake in 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 purchasing an additional 310 shares during the last quarter. Creative Planning lifted its stake in 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 purchasing an additional 154 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Proofpoint in the second quarter worth $215,000. Finally, Bluestein R H & Co. bought a new stake in Proofpoint in the second quarter worth $217,000.

Proofpoint Inc (PFPT) opened at $84.07 on Wednesday. Proofpoint Inc has a 52-week low of $69.23 and a 52-week high of $97.92. The company has a debt-to-equity ratio of 11.57, a current ratio of 1.51 and a quick ratio of 1.51.

Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, October 19th. The software maker reported $0.25 earnings per share for the quarter, beating the Zacks’ 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 net margin of 20.19% and a negative return on equity of 158.19%. The firm’s revenue for the quarter was up 34.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.19 earnings per share. analysts expect that Proofpoint Inc will post -0.88 earnings per share for the current year.

Several analysts have weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $106.00 price target (down from $108.00) on shares of Proofpoint in a research note on Tuesday. Royal Bank Of Canada reissued a “buy” rating and issued a $103.00 price target on shares of Proofpoint in a research note on Thursday, August 31st. BidaskClub raised shares of Proofpoint from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Cowen began coverage on shares of Proofpoint in a research note on Thursday, August 17th. They set an “outperform” rating and a $105.00 price objective for the company. Finally, Macquarie reaffirmed an “outperform” rating and set a $103.00 price objective on shares of Proofpoint in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $102.09.

In other news, EVP Tracey Newell sold 8,183 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $90.30, for a total value of $738,924.90. Following the completion of the sale, the executive vice president now directly owns 20,170 shares of the company’s stock, valued at $1,821,351. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gary Steele sold 40,000 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $88.60, for a total transaction of $3,544,000.00. Following the completion of the sale, the chief executive officer now directly owns 88,551 shares of the company’s stock, valued at $7,845,618.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,549 shares of company stock worth $15,277,790. 5.96% of the stock is owned by insiders.

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About Proofpoint

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.

Institutional Ownership by Quarter for Proofpoint (NASDAQ:PFPT)

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