Scout Investments Inc. trimmed its position in shares of Proofpoint Inc (NASDAQ:PFPT) by 35.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 172,497 shares of the software maker’s stock after selling 94,462 shares during the quarter. Scout Investments Inc. owned 0.31% of Proofpoint worth $22,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Trust Advisors LP raised its stake in shares of Proofpoint by 90.9% during the 2nd quarter. First Trust Advisors LP now owns 539,145 shares of the software maker’s stock worth $64,832,000 after purchasing an additional 256,737 shares during the period. River & Mercantile Asset Management LLP bought a new stake in Proofpoint in the 2nd quarter valued at about $4,051,000. LPL Financial LLC raised its stake in Proofpoint by 74.4% in the 2nd quarter. LPL Financial LLC now owns 17,961 shares of the software maker’s stock valued at $2,160,000 after acquiring an additional 7,665 shares during the period. Coastal Capital Group Inc. bought a new stake in Proofpoint in the 2nd quarter valued at about $105,000. Finally, Swiss National Bank raised its stake in Proofpoint by 9.8% in the 1st quarter. Swiss National Bank now owns 99,552 shares of the software maker’s stock valued at $12,089,000 after acquiring an additional 8,900 shares during the period. 94.16% of the stock is currently owned by hedge funds and other institutional investors.
PFPT has been the topic of a number of research reports. Zacks Investment Research upgraded Proofpoint from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Thursday, June 20th. Morgan Stanley boosted their price objective on Proofpoint from $142.00 to $148.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. ValuEngine cut Proofpoint from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Needham & Company LLC boosted their price objective on Proofpoint from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Northland Securities restated a “buy” rating and issued a $160.00 price objective on shares of Proofpoint in a research note on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $139.08.
Shares of NASDAQ PFPT traded up $0.67 during midday trading on Wednesday, hitting $125.72. 1,187 shares of the company’s stock were exchanged, compared to its average volume of 604,429. Proofpoint Inc has a 12-month low of $75.92 and a 12-month high of $133.00. The company has a current ratio of 0.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.07. The company has a market cap of $7.01 billion, a price-to-earnings ratio of -109.13 and a beta of 1.66. The business’s fifty day moving average price is $122.62 and its two-hundred day moving average price is $120.36.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, July 25th. The software maker reported ($0.27) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.07). Proofpoint had a negative return on equity of 11.24% and a negative net margin of 14.31%. The business had revenue of $214.40 million for the quarter, compared to analysts’ expectations of $211.33 million. During the same period in the previous year, the firm posted $0.26 EPS. The firm’s revenue for the quarter was up 24.7% compared to the same quarter last year. Equities analysts expect that Proofpoint Inc will post -0.8 earnings per share for the current fiscal year.
In other Proofpoint news, EVP David Knight sold 8,500 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $123.67, for a total value of $1,051,195.00. Following the completion of the sale, the executive vice president now owns 9,780 shares of the company’s stock, valued at $1,209,492.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gary Steele sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $123.79, for a total value of $2,475,800.00. Following the completion of the sale, the chief executive officer now directly owns 100,574 shares of the company’s stock, valued at approximately $12,450,055.46. The disclosure for this sale can be found here. Insiders have sold 80,044 shares of company stock valued at $9,773,302 in the last three months. 2.93% of the stock is owned by insiders.
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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