Dynamic Technology Lab Private Ltd Invests $215,000 in Proofpoint, Inc. (PFPT) Stock
Dynamic Technology Lab Private Ltd bought a new position in shares of Proofpoint, Inc. (NASDAQ:PFPT) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,484 shares of the software maker’s stock, valued at approximately $215,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PFPT. BlackRock Inc. boosted its position in shares of Proofpoint by 9.7% in the 2nd quarter. BlackRock Inc. now owns 3,503,427 shares of the software maker’s stock valued at $304,204,000 after purchasing an additional 309,998 shares during the period. Vanguard Group Inc. boosted its position in shares of Proofpoint by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,392,578 shares of the software maker’s stock valued at $294,577,000 after purchasing an additional 77,721 shares during the period. Artisan Partners Limited Partnership boosted its position in shares of Proofpoint by 20.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,786,122 shares of the software maker’s stock valued at $241,919,000 after purchasing an additional 472,407 shares during the period. FMR LLC boosted its position in shares of Proofpoint by 10.9% in the 2nd quarter. FMR LLC now owns 961,745 shares of the software maker’s stock valued at $83,508,000 after purchasing an additional 94,545 shares during the period. Finally, Macquarie Group Ltd. boosted its position in shares of Proofpoint by 13.0% in the 2nd quarter. Macquarie Group Ltd. now owns 942,966 shares of the software maker’s stock valued at $81,878,000 after purchasing an additional 108,772 shares during the period.
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A number of analysts recently issued reports on PFPT shares. Monness Crespi & Hardt started coverage on Proofpoint in a research report on Monday, October 16th. They issued a “buy” rating and a $110.00 target price for the company. Needham & Company LLC reissued a “buy” rating and issued a $115.00 target price on shares of Proofpoint in a research report on Monday, September 11th. Macquarie reissued an “outperform” rating and issued a $103.00 target price on shares of Proofpoint in a research report on Tuesday, September 26th. BidaskClub raised Proofpoint from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Finally, Evercore ISI set a $105.00 target price on Proofpoint and gave the company a “buy” rating in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $101.70.
Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, October 19th. The software maker reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.07. Proofpoint had a negative return on equity of 152.53% and a negative net margin of 20.19%. The firm had revenue of $134.30 million for the quarter, compared to analysts’ expectations of $131.48 million. During the same quarter in the previous year, the company earned $0.19 earnings per share. The firm’s quarterly revenue was up 34.6% compared to the same quarter last year.
In other Proofpoint news, EVP David Knight sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $90.76, for a total value of $272,280.00. Following the transaction, the executive vice president now owns 16,874 shares of the company’s stock, valued at $1,531,484.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Tracey Newell sold 8,183 shares of the company’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $94.82, for a total value of $775,912.06. Following the completion of the transaction, the executive vice president now directly owns 25,001 shares in the company, valued at approximately $2,370,594.82. The disclosure for this sale can be found here. Insiders sold 168,549 shares of company stock worth $15,226,339 in the last ninety days. 6.80% of the stock is 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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