Falcon Point Capital LLC Decreases Stake in Proofpoint, Inc. (NASDAQ:PFPT)
Falcon Point Capital LLC decreased its stake in Proofpoint, Inc. (NASDAQ:PFPT) by 37.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,809 shares of the software maker’s stock after selling 65,734 shares during the period. Falcon Point Capital LLC owned about 0.24% of Proofpoint worth $9,361,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Creative Planning increased its stake in Proofpoint by 7.4% in the second quarter. Creative Planning now owns 2,232 shares of the software maker’s stock valued at $194,000 after buying an additional 154 shares in the last quarter. Legato Capital Management LLC acquired a new stake in Proofpoint during the second quarter valued at about $204,000. DekaBank Deutsche Girozentrale increased its stake in Proofpoint by 400.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 2,500 shares of the software maker’s stock valued at $185,000 after buying an additional 2,000 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Proofpoint by 18.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,897 shares of the software maker’s stock valued at $215,000 after buying an additional 446 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in Proofpoint during the first quarter valued at about $220,000.
Shares of Proofpoint, Inc. (NASDAQ PFPT) opened at 86.84 on Friday. Proofpoint, Inc. has a 12-month low of $68.04 and a 12-month high of $94.33. The company has a 50-day moving average of $87.56 and a 200 day moving average of $82.49. The firm’s market capitalization is $3.86 billion.
Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings data on Thursday, July 27th. The software maker reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.05. The business had revenue of $122.30 million for the quarter, compared to the consensus estimate of $119.58 million. Proofpoint had a negative net margin of 20.96% and a negative return on equity of 140.24%. Proofpoint’s quarterly revenue was up 36.0% on a year-over-year basis. During the same quarter last year, the company posted $0.06 earnings per share. On average, analysts predict that Proofpoint, Inc. will post $0.65 EPS for the current year.
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Several research firms have issued reports on PFPT. BidaskClub downgraded shares of Proofpoint from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Imperial Capital reiterated an “outperform” rating and set a $102.00 price objective (up from $100.00) on shares of Proofpoint in a research note on Wednesday, August 2nd. Northland Securities set a $100.00 price objective on shares of Proofpoint and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research downgraded shares of Proofpoint from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Piper Jaffray Companies set a $100.00 price objective on shares of Proofpoint and gave the stock a “buy” rating in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-one have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $92.78.
In other news, SVP Robert Darren Lee sold 2,750 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $87.75, for a total value of $241,312.50. Following the sale, the senior vice president now owns 7,619 shares in the company, valued at $668,567.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Bhagwat Swaroop sold 5,000 shares of the firm’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $85.17, for a total transaction of $425,850.00. Following the completion of the sale, the executive vice president now owns 13,161 shares in the company, valued at approximately $1,120,922.37. The disclosure for this sale can be found here. In the last 90 days, insiders sold 186,299 shares of company stock worth $15,989,869. 6.80% of the stock is currently owned by corporate insiders.
Proofpoint, Inc is a security-as-a-service provider that enables large and mid-sized organizations to defend, protect, archive and govern their sensitive data. The Company’s security-as-a-service platform consists of an integrated suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication.
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