Baird Financial Group Inc. reduced its position in Proofpoint Inc (NASDAQ:PFPT) by 28.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,001 shares of the software maker’s stock after selling 4,318 shares during the quarter. Baird Financial Group Inc.’s holdings in Proofpoint were worth $1,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. grew its position in shares of Proofpoint by 4,395.0% in the first quarter. Stratos Wealth Partners LTD. now owns 899 shares of the software maker’s stock valued at $102,000 after purchasing an additional 879 shares in the last quarter. Optimum Investment Advisors purchased a new position in shares of Proofpoint in the first quarter valued at $227,000. Lido Advisors LLC purchased a new position in shares of Proofpoint in the first quarter valued at $244,000. Brinker Capital Inc. purchased a new position in shares of Proofpoint in the first quarter valued at $260,000. Finally, Profund Advisors LLC purchased a new position in shares of Proofpoint in the first quarter valued at $261,000.
Shares of PFPT stock opened at $123.79 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.60 and a quick ratio of 0.60. Proofpoint Inc has a 12-month low of $82.61 and a 12-month high of $130.27. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of -94.50 and a beta of 1.15.
In other Proofpoint news, EVP Bhagwat Swaroop sold 3,077 shares of Proofpoint stock in a transaction dated Friday, April 6th. The stock was sold at an average price of $117.41, for a total transaction of $361,270.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Eric Hahn sold 5,000 shares of Proofpoint stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $113.64, for a total value of $568,200.00. Following the sale, the chairman now directly owns 18,401 shares of the company’s stock, valued at approximately $2,091,089.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,788 shares of company stock valued at $2,245,992. Corporate insiders own 3.37% of the company’s stock.
Several equities analysts have recently weighed in on the company. Deutsche Bank lifted their price target on Proofpoint from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, March 16th. Piper Jaffray Companies reissued an “overweight” rating and set a $134.00 price objective on shares of Proofpoint in a research note on Friday, March 9th. William Blair reissued an “outperform” rating on shares of Proofpoint in a research note on Wednesday, March 14th. Cowen reissued a “buy” rating on shares of Proofpoint in a research note on Thursday, March 1st. Finally, Zacks Investment Research lowered Proofpoint from a “hold” rating to a “sell” rating in a research note on Tuesday, May 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Proofpoint has an average rating of “Buy” and an average target price of $125.05.
Proofpoint, Inc operates as a security-as-a-service (SaaS) provider that enables large and mid-sized organizations to defend, protect, archive, and govern their sensitive data worldwide. It offers protection against advanced and targeted threats, including malicious attachments, polymorphic threats, zero-day exploits, user-transparent ?drive-by' downloads, malicious Web links, hybrid threats, malware free attacks, and other penetration tactics.
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