BlackRock Inc. decreased its position in shares of Proofpoint Inc (NASDAQ:PFPT) by 22.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,462,984 shares of the software maker’s stock after selling 724,128 shares during the quarter. BlackRock Inc. owned about 4.80% of Proofpoint worth $284,007,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its holdings in shares of Proofpoint by 137.2% in the 1st quarter. SG Americas Securities LLC now owns 7,765 shares of the software maker’s stock valued at $882,000 after acquiring an additional 4,492 shares during the period. American Century Companies Inc. purchased a new position in shares of Proofpoint in the 1st quarter valued at $370,000. Swiss National Bank increased its holdings in shares of Proofpoint by 3.3% in the 1st quarter. Swiss National Bank now owns 78,152 shares of the software maker’s stock valued at $8,882,000 after acquiring an additional 2,500 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Proofpoint by 2.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 252,349 shares of the software maker’s stock valued at $28,680,000 after acquiring an additional 7,212 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Proofpoint by 2.0% in the 1st quarter. Northern Trust Corp now owns 563,249 shares of the software maker’s stock valued at $64,013,000 after acquiring an additional 10,969 shares during the period. 95.24% of the stock is currently owned by institutional investors and hedge funds.
In other Proofpoint news, EVP Bhagwat Swaroop sold 4,000 shares of Proofpoint stock in a transaction dated Friday, July 6th. The stock was sold at an average price of $116.28, for a total transaction of $465,120.00. Following the completion of the sale, the executive vice president now owns 13,784 shares of the company’s stock, valued at approximately $1,602,803.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David Knight sold 7,500 shares of Proofpoint stock in a transaction dated Wednesday, July 11th. The stock was sold at an average price of $126.02, for a total value of $945,150.00. Following the sale, the executive vice president now directly owns 24,814 shares of the company’s stock, valued at approximately $3,127,060.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 337,174 shares of company stock valued at $34,358,075. 5.96% of the stock is currently owned by insiders.
Shares of PFPT stock opened at $105.14 on Tuesday. Proofpoint Inc has a 1-year low of $82.61 and a 1-year high of $130.27. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.69. The firm has a market cap of $5.86 billion, a P/E ratio of -80.26 and a beta of 1.26.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, July 26th. The software maker reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.09. Proofpoint had a negative return on equity of 16.48% and a negative net margin of 12.93%. The company had revenue of $171.90 million during the quarter, compared to analysts’ expectations of $169.46 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The firm’s revenue was up 40.6% compared to the same quarter last year. equities research analysts forecast that Proofpoint Inc will post -1.18 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on the company. BidaskClub upgraded Proofpoint from a “hold” rating to a “buy” rating in a report on Thursday, August 9th. Stifel Nicolaus lifted their price target on Proofpoint to $130.00 and gave the company a “buy” rating in a report on Friday, July 27th. Monness Crespi & Hardt lifted their price target on Proofpoint from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 27th. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price target on shares of Proofpoint in a report on Friday, July 27th. Finally, Zacks Investment Research downgraded Proofpoint from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Six analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Proofpoint currently has an average rating of “Buy” and a consensus target price of $131.30.
Proofpoint Company Profile
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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