Fmr LLC boosted its holdings in Proofpoint Inc (NASDAQ:PFPT) by 22.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,516,931 shares of the software maker’s stock after buying an additional 276,000 shares during the quarter. Fmr LLC owned 2.78% of Proofpoint worth $161,295,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Baird Financial Group Inc. increased its position in shares of Proofpoint by 36.6% during the 2nd quarter. Baird Financial Group Inc. now owns 15,032 shares of the software maker’s stock valued at $1,733,000 after purchasing an additional 4,031 shares during the last quarter. Essex Investment Management Co. LLC increased its position in shares of Proofpoint by 2.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 36,647 shares of the software maker’s stock valued at $3,897,000 after purchasing an additional 824 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Proofpoint by 18.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 90,000 shares of the software maker’s stock valued at $9,570,000 after purchasing an additional 14,000 shares during the last quarter. Dupont Capital Management Corp increased its position in shares of Proofpoint by 39.4% during the 3rd quarter. Dupont Capital Management Corp now owns 6,590 shares of the software maker’s stock valued at $701,000 after purchasing an additional 1,862 shares during the last quarter. Finally, Oak Ridge Investments LLC purchased a new stake in shares of Proofpoint during the 2nd quarter valued at about $3,037,000. 97.81% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:PFPT opened at $91.28 on Friday. The company has a market cap of $5.06 billion, a P/E ratio of -69.68 and a beta of 1.46. Proofpoint Inc has a 12-month low of $75.92 and a 12-month high of $130.27.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Thursday, October 25th. The software maker reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.73. Proofpoint had a negative return on equity of 11.86% and a negative net margin of 14.08%. The business had revenue of $184.18 million during the quarter, compared to the consensus estimate of $181.69 million. On average, research analysts predict that Proofpoint Inc will post -1.14 earnings per share for the current year.
PFPT has been the subject of several research reports. Goldman Sachs Group raised shares of Proofpoint from a “neutral” rating to a “buy” rating and set a $114.00 price target for the company in a research report on Monday, October 29th. Monness Crespi & Hardt reduced their price target on shares of Proofpoint from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Deutsche Bank cut their price objective on Proofpoint to $125.00 and set a “buy” rating for the company in a research note on Monday, October 1st. JMP Securities cut their price objective on Proofpoint from $145.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, October 26th. Finally, Zacks Investment Research reiterated a “hold” rating on shares of Proofpoint in a research note on Wednesday, November 14th. Three research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $125.05.
In other Proofpoint news, CEO Gary Steele sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $95.31, for a total value of $4,765,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Knight sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 3rd. The stock was sold at an average price of $102.90, for a total value of $154,350.00. Following the completion of the transaction, the executive vice president now owns 14,214 shares of the company’s stock, valued at $1,462,620.60. The disclosure for this sale can be found here. Insiders sold a total of 102,886 shares of company stock valued at $9,996,618 over the last 90 days. 5.96% of the stock is currently owned by corporate insiders.
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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