Legal & General Group Plc boosted its position in Proofpoint Inc (NASDAQ:PFPT) by 843.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 194,464 shares of the software maker’s stock after purchasing an additional 173,849 shares during the period. Legal & General Group Plc’s holdings in Proofpoint were worth $22,101,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. MetLife Investment Advisors LLC acquired a new position in Proofpoint in the 4th quarter worth about $1,757,000. Xact Kapitalforvaltning AB bought a new stake in shares of Proofpoint in the 4th quarter valued at about $429,000. Two Sigma Advisers LP grew its position in shares of Proofpoint by 13.9% in the 4th quarter. Two Sigma Advisers LP now owns 401,441 shares of the software maker’s stock valued at $35,652,000 after buying an additional 49,000 shares during the last quarter. Highland Capital Management LP grew its position in shares of Proofpoint by 3.7% in the 4th quarter. Highland Capital Management LP now owns 58,000 shares of the software maker’s stock valued at $5,151,000 after buying an additional 2,076 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Proofpoint by 66.5% in the 4th quarter. Renaissance Technologies LLC now owns 291,700 shares of the software maker’s stock valued at $25,906,000 after buying an additional 116,500 shares during the last quarter.
A number of equities research analysts have commented on PFPT shares. Deutsche Bank upped 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. Morgan Stanley upped their price target on Proofpoint from $124.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, March 22nd. Citigroup upped their price target on Proofpoint from $118.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, April 16th. ValuEngine upgraded Proofpoint from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Wedbush reiterated an “outperform” rating and issued a $130.00 price target on shares of Proofpoint in a research report on Monday, April 9th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $125.05.
Shares of Proofpoint opened at $116.74 on Tuesday, MarketBeat.com reports. Proofpoint Inc has a one year low of $82.61 and a one year high of $130.27. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market cap of $5.86 billion, a P/E ratio of -87.49 and a beta of 1.25.
Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, April 26th. The software maker reported $0.30 EPS for the quarter, beating the consensus estimate of $0.15 by $0.15. Proofpoint had a negative return on equity of 21.55% and a negative net margin of 12.58%. The company had revenue of $162.50 million for the quarter, compared to analyst estimates of $151.86 million. During the same quarter in the prior year, the company earned $0.12 EPS. The firm’s revenue for the quarter was up 40.6% compared to the same quarter last year. equities research analysts expect that Proofpoint Inc will post -1.12 earnings per share for the current fiscal year.
In other Proofpoint news, EVP Bhagwat Swaroop sold 3,077 shares of the stock in a transaction that occurred on Friday, April 6th. The stock was sold at an average price of $117.41, for a total value of $361,270.57. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Eric Hahn sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $122.32, for a total value of $611,600.00. Following the completion of the transaction, the chairman now owns 13,001 shares in the company, valued at approximately $1,590,282.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,788 shares of company stock worth $2,301,042. Corporate insiders own 3.37% of the company’s stock.
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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