Wasatch Advisors Inc. Lowers Holdings in Proofpoint Inc (PFPT)
Wasatch Advisors Inc. decreased its position in Proofpoint Inc (NASDAQ:PFPT) by 2.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 774,406 shares of the software maker’s stock after selling 15,852 shares during the period. Wasatch Advisors Inc.’s holdings in Proofpoint were worth $68,775,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its holdings in Proofpoint by 5.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,902 shares of the software maker’s stock valued at $339,000 after purchasing an additional 200 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Proofpoint by 3.8% in the second quarter. Principal Financial Group Inc. now owns 5,976 shares of the software maker’s stock valued at $519,000 after purchasing an additional 216 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in Proofpoint by 6.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,771 shares of the software maker’s stock valued at $327,000 after purchasing an additional 245 shares during the last quarter. Stephens Inc. AR grew its holdings in Proofpoint by 5.1% in the second quarter. Stephens Inc. AR now owns 8,050 shares of the software maker’s stock valued at $699,000 after purchasing an additional 394 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in Proofpoint by 17.7% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,724 shares of the software maker’s stock valued at $235,000 after purchasing an additional 409 shares during the last quarter.
A number of analysts recently commented on the company. Stifel Nicolaus set a $100.00 price objective on Proofpoint and gave the company a “buy” rating in a research note on Monday, October 16th. KeyCorp reaffirmed a “hold” rating on shares of Proofpoint in a research note on Tuesday, September 19th. Piper Jaffray Companies set a $100.00 price objective on Proofpoint and gave the company a “buy” rating in a research note on Sunday, October 15th. Wedbush reaffirmed an “outperform” rating and set a $106.00 price objective (down previously from $108.00) on shares of Proofpoint in a research note on Tuesday, December 5th. Finally, BidaskClub raised Proofpoint from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company’s stock. Proofpoint has a consensus rating of “Buy” and an average target price of $102.48.
Proofpoint Inc (PFPT) traded down $3.36 during midday trading on Tuesday, reaching $95.75. The company had a trading volume of 538,047 shares, compared to its average volume of 535,590. Proofpoint Inc has a 1 year low of $70.30 and a 1 year high of $101.05. The stock has a market capitalization of $4,290.00, a P/E ratio of -43.33 and a beta of 1.32. The company has a debt-to-equity ratio of 11.57, a current ratio of 1.51 and a quick ratio of 1.51.
Proofpoint (NASDAQ:PFPT) last released its earnings results on Thursday, October 19th. The software maker reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.07. Proofpoint had a negative return on equity of 158.19% and a negative net margin of 20.19%. The firm had revenue of $134.30 million for the quarter, compared to the consensus estimate of $131.48 million. During the same period in the prior year, the business posted $0.19 earnings per share. The firm’s revenue for the quarter was up 34.6% compared to the same quarter last year. sell-side analysts predict that Proofpoint Inc will post -0.88 EPS for the current fiscal year.
In other news, CEO Gary Steele sold 40,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $90.88, for a total value of $3,635,200.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Eric Hahn sold 5,000 shares of the firm’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $93.91, for a total value of $469,550.00. Following the completion of the transaction, the chairman now owns 33,001 shares in the company, valued at $3,099,123.91. The disclosure for this sale can be found here. Insiders have sold 157,366 shares of company stock worth $14,110,440 over the last quarter. 5.96% of the stock is currently owned by company insiders.
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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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