Fulton Breakefield Broenniman LLC bought a new position in Proofpoint Inc (NASDAQ:PFPT) during the third quarter, Holdings Channel reports. The firm bought 2,467 shares of the software maker’s stock, valued at approximately $318,000.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in shares of Proofpoint by 136.5% in the third quarter. Envestnet Asset Management Inc. now owns 8,704 shares of the software maker’s stock worth $1,123,000 after buying an additional 5,024 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in Proofpoint in the 3rd quarter worth about $32,000. Polianta Ltd raised its holdings in Proofpoint by 1.1% in the 3rd quarter. Polianta Ltd now owns 9,500 shares of the software maker’s stock worth $1,225,000 after purchasing an additional 100 shares during the period. M&R Capital Management Inc. acquired a new position in Proofpoint in the 3rd quarter worth about $141,000. Finally, River & Mercantile Asset Management LLP acquired a new position in Proofpoint in the 2nd quarter worth about $4,051,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.
In other Proofpoint news, CEO Gary Steele sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $116.74, for a total transaction of $2,334,800.00. Following the completion of the transaction, the chief executive officer now owns 95,148 shares of the company’s stock, valued at $11,107,577.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Knight sold 2,500 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $128.03, for a total value of $320,075.00. Following the completion of the sale, the executive vice president now directly owns 7,328 shares of the company’s stock, valued at approximately $938,203.84. The disclosure for this sale can be found here. Insiders have sold 71,544 shares of company stock valued at $8,861,107 in the last three months. Insiders own 2.93% of the company’s stock.
Shares of Proofpoint stock opened at $119.44 on Friday. The business has a 50 day simple moving average of $125.22 and a two-hundred day simple moving average of $120.73. Proofpoint Inc has a 12 month low of $75.92 and a 12 month high of $133.58. The stock has a market capitalization of $6.96 billion, a P/E ratio of -103.86 and a beta of 1.66. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.67 and a quick ratio of 0.66.
Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, July 25th. The software maker reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.07). Proofpoint had a negative net margin of 14.31% and a negative return on equity of 11.24%. The firm had revenue of $214.40 million for the quarter, compared to analyst estimates of $211.33 million. During the same period in the previous year, the company earned $0.26 EPS. Proofpoint’s revenue was up 24.7% compared to the same quarter last year. As a group, research analysts anticipate that Proofpoint Inc will post -0.8 EPS for the current fiscal year.
A number of equities analysts recently weighed in on PFPT shares. Mizuho upped their price target on Proofpoint from $120.00 to $128.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada set a $150.00 price target on Proofpoint and gave the stock a “buy” rating in a report on Friday, July 26th. Wedbush set a $140.00 price target on Proofpoint and gave the stock a “buy” rating in a report on Friday, October 11th. Evercore ISI set a $150.00 price target on Proofpoint and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Piper Jaffray Companies upped their price target on Proofpoint from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Proofpoint has an average rating of “Buy” and an average target price of $139.08.
Proofpoint, Inc operates as a security-as-a-service 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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