Lisanti Capital Growth LLC cut its position in shares of Proofpoint Inc (NASDAQ:PFPT) by 68.9% during the 3rd quarter, Holdings Channel reports. The firm owned 3,333 shares of the software maker’s stock after selling 7,370 shares during the period. Lisanti Capital Growth LLC’s holdings in Proofpoint were worth $354,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in PFPT. Federated Investors Inc. PA increased its position in shares of Proofpoint by 181.1% during the 2nd quarter. Federated Investors Inc. PA now owns 1,386 shares of the software maker’s stock valued at $160,000 after purchasing an additional 893 shares during the last quarter. World Asset Management Inc bought a new position in shares of Proofpoint during the 2nd quarter valued at about $205,000. CIBC Asset Management Inc bought a new position in shares of Proofpoint during the 2nd quarter valued at about $211,000. Hartford Investment Management Co. bought a new position in shares of Proofpoint during the 2nd quarter valued at about $230,000. Finally, NumerixS Investment Technologies Inc bought a new position in shares of Proofpoint during the 2nd quarter valued at about $255,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.
Several equities analysts have recently commented on the company. Morgan Stanley reduced their price objective on Proofpoint from $134.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, October 29th. BidaskClub upgraded Proofpoint from a “hold” rating to a “buy” rating in a research report on Thursday, August 9th. Stifel Nicolaus raised their price target on Proofpoint to $130.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. Monness Crespi & Hardt raised their price target on Proofpoint from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. Finally, Deutsche Bank lowered Proofpoint from a “buy” rating to a “hold” rating and reduced their price target for the stock from $125.00 to $95.00 in a research report on Friday, October 26th. Four investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Proofpoint has a consensus rating of “Buy” and a consensus target price of $125.05.
In other news, CEO Gary Steele sold 100,000 shares of Proofpoint stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $62.54, for a total value of $6,254,000.00. Following the sale, the chief executive officer now directly owns 121,074 shares in the company, valued at approximately $7,571,967.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael M. Johnson sold 1,040 shares of Proofpoint stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $115.30, for a total value of $119,912.00. Following the completion of the sale, the director now owns 2,687 shares in the company, valued at $309,811.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 197,060 shares of company stock worth $16,614,402. Corporate insiders own 5.96% of the company’s stock.
Shares of PFPT stock opened at $89.28 on Friday. Proofpoint Inc has a fifty-two week low of $75.92 and a fifty-two week high of $130.27.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, October 25th. The software maker reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.73. The firm had revenue of $184.18 million for the quarter, compared to analyst estimates of $181.69 million. Proofpoint had a negative return on equity of 11.86% and a negative net margin of 14.08%. On average, equities research analysts anticipate that Proofpoint Inc will post -1.14 EPS for the current year.
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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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