Meadow Creek Investment Management LLC decreased its position in shares of Proofpoint Inc (NASDAQ:PFPT) by 22.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,920 shares of the software maker’s stock after selling 2,310 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in Proofpoint were worth $703,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PFPT. Carillon Tower Advisers Inc. bought a new stake in Proofpoint during the fourth quarter worth about $56,177,000. JPMorgan Chase & Co. lifted its position in Proofpoint by 133.9% during the third quarter. JPMorgan Chase & Co. now owns 870,784 shares of the software maker’s stock worth $76,551,000 after purchasing an additional 498,462 shares during the period. TIAA CREF Investment Management LLC raised its stake in Proofpoint by 25.2% during the fourth quarter. TIAA CREF Investment Management LLC now owns 1,348,936 shares of the software maker’s stock worth $119,799,000 after acquiring an additional 271,581 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in Proofpoint by 8.1% during the third quarter. Artisan Partners Limited Partnership now owns 3,012,092 shares of the software maker’s stock worth $262,715,000 after acquiring an additional 225,970 shares in the last quarter. Finally, Elk Creek Partners LLC acquired a new position in Proofpoint during the third quarter worth about $10,787,000.
In related news, EVP Bhagwat Swaroop sold 900 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $98.86, for a total value of $88,974.00. Following the sale, the executive vice president now directly owns 4,077 shares in the company, valued at $403,052.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert Darren Lee sold 18,139 shares of the company’s stock in a transaction that occurred on 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. Insiders sold 136,120 shares of company stock valued at $13,359,684 in the last ninety days. 5.96% of the stock is currently owned by insiders.
Several brokerages have commented on PFPT. Deutsche Bank boosted 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. Piper Jaffray Companies reissued an “overweight” rating and set a $134.00 target price on shares of Proofpoint in a research note on Friday, March 9th. Zacks Investment Research raised Proofpoint from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a research note on Wednesday, December 27th. Monness Crespi & Hardt boosted their target price on Proofpoint from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Finally, TheStreet raised Proofpoint from a “d” rating to a “c-” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $111.21.
Proofpoint Inc (NASDAQ PFPT) opened at $117.34 on Friday. Proofpoint Inc has a 52 week low of $70.30 and a 52 week high of $123.87. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85.
Proofpoint (NASDAQ:PFPT) last released its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $139.61 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The firm’s revenue was up 36.1% compared to the same quarter last year. analysts anticipate that Proofpoint Inc will post -1.01 EPS for the current fiscal year.
ILLEGAL ACTIVITY WARNING: This article was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this article on another website, it was illegally stolen and reposted in violation of international trademark & copyright laws. The legal version of this article can be accessed at https://www.dispatchtribunal.com/2018/03/23/proofpoint-inc-pfpt-position-trimmed-by-meadow-creek-investment-management-llc.html.
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.
Receive News & Ratings for Proofpoint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proofpoint and related companies with MarketBeat.com's FREE daily email newsletter.