Geode Capital Management LLC raised its stake in Proofpoint Inc (NASDAQ:PFPT) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 399,520 shares of the software maker’s stock after acquiring an additional 21,013 shares during the period. Geode Capital Management LLC’s holdings in Proofpoint were worth $35,481,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Angelo Gordon & CO. L.P. grew its stake in shares of Proofpoint by 48.2% in the fourth quarter. Angelo Gordon & CO. L.P. now owns 61,500 shares of the software maker’s stock worth $5,462,000 after acquiring an additional 20,000 shares during the last quarter. Carillon Tower Advisers Inc. purchased a new stake in shares of Proofpoint in the fourth quarter worth $56,177,000. Fuller & Thaler Asset Management Inc. grew its stake in shares of Proofpoint by 0.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 115,520 shares of the software maker’s stock worth $10,259,000 after acquiring an additional 550 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Proofpoint in the fourth quarter worth $745,000. Finally, Brown Advisory Inc. grew its stake in shares of Proofpoint by 41.7% in the fourth quarter. Brown Advisory Inc. now owns 247,154 shares of the software maker’s stock worth $21,951,000 after acquiring an additional 72,742 shares during the last quarter.
In other Proofpoint news, Chairman Eric Hahn sold 5,000 shares of the stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $118.91, for a total value of $594,550.00. Following the transaction, the chairman now owns 23,001 shares of the company’s stock, valued at $2,735,048.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Robert Darren Lee sold 18,139 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $97.73, for a total value of $1,772,724.47. The disclosure for this sale can be found here. In the last three months, insiders sold 136,120 shares of company stock worth $13,359,684. 5.96% of the stock is owned by corporate insiders.
Shares of Proofpoint stock opened at $121.79 on Thursday. Proofpoint Inc has a 12-month low of $70.30 and a 12-month high of $123.87. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.07.
Proofpoint (NASDAQ:PFPT) last posted its earnings results on Tuesday, February 6th. The software maker reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.08. Proofpoint had a negative return on equity of 54.09% and a negative net margin of 16.37%. The company had revenue of $145.40 million for the quarter, compared to the consensus estimate of $139.61 million. During the same quarter in the prior year, the company earned $0.18 earnings per share. Proofpoint’s revenue was up 36.1% on a year-over-year basis. analysts anticipate that Proofpoint Inc will post -1.01 earnings per share for the current year.
A number of equities research analysts have recently commented on the company. William Blair reissued an “outperform” rating on shares of Proofpoint in a research note on Wednesday, March 14th. Piper Jaffray Companies reissued an “overweight” rating and issued a $134.00 target price on shares of Proofpoint in a research note on Friday, March 9th. Dougherty & Co reissued a “buy” rating and issued a $125.00 target price (up from $118.00) on shares of Proofpoint in a research note on Tuesday, March 6th. Deutsche Bank increased their target price on Proofpoint from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, March 16th. Finally, Wedbush reissued an “outperform” rating and issued a $114.00 target price (down from $130.00) on shares of Proofpoint in a research note on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $110.75.
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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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