BlackRock Inc. lessened its stake in Proofpoint Inc (NASDAQ:PFPT) by 22.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,462,984 shares of the software maker’s stock after selling 724,128 shares during the quarter. BlackRock Inc.’s holdings in Proofpoint were worth $284,007,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its holdings in shares of Proofpoint by 13.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 11,463 shares of the software maker’s stock valued at $1,322,000 after buying an additional 1,375 shares during the period. American Century Companies Inc. acquired a new position in shares of Proofpoint in the 1st quarter valued at about $370,000. Fred Alger Management Inc. lifted its holdings in shares of Proofpoint by 13.8% in the 2nd quarter. Fred Alger Management Inc. now owns 499,196 shares of the software maker’s stock valued at $57,562,000 after buying an additional 60,681 shares during the period. Whale Rock Capital Management LLC acquired a new position in shares of Proofpoint in the 1st quarter valued at about $123,305,000. Finally, Rhumbline Advisers lifted its holdings in shares of Proofpoint by 25.4% in the 2nd quarter. Rhumbline Advisers now owns 53,717 shares of the software maker’s stock valued at $6,194,000 after buying an additional 10,892 shares during the period. 95.24% of the stock is owned by institutional investors and hedge funds.

In other Proofpoint news, CEO Gary Steele sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $62.54, for a total transaction of $6,254,000.00. Following the completion of the sale, the chief executive officer now directly owns 121,074 shares in the company, valued at approximately $7,571,967.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Paul R. Auvil III sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $113.70, for a total value of $4,548,000.00. Following the sale, the chief financial officer now owns 79,528 shares of the company’s stock, valued at $9,042,333.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 337,174 shares of company stock valued at $34,358,075. 5.96% of the stock is owned by company insiders.

NASDAQ:PFPT opened at $105.14 on Tuesday. Proofpoint Inc has a 12 month low of $82.61 and a 12 month high of $130.27. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.69. The company has a market cap of $5.86 billion, a price-to-earnings ratio of -80.26 and a beta of 1.26.

Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings data on Thursday, July 26th. The software maker reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.09. Proofpoint had a negative return on equity of 16.48% and a negative net margin of 12.93%. The company had revenue of $171.90 million during the quarter, compared to analyst estimates of $169.46 million. During the same period in the previous year, the business earned $0.17 EPS. Proofpoint’s quarterly revenue was up 40.6% on a year-over-year basis. equities research analysts forecast that Proofpoint Inc will post -1.18 earnings per share for the current year.

Several equities analysts have recently issued reports on PFPT shares. Evercore ISI reissued a “buy” rating and issued a $135.00 price objective on shares of Proofpoint in a report on Wednesday, May 30th. BidaskClub cut Proofpoint from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 31st. Wedbush reaffirmed an “outperform” rating and issued a $136.00 price target on shares of Proofpoint in a report on Wednesday, July 11th. Zacks Investment Research cut Proofpoint from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $140.00 price target on shares of Proofpoint in a report on Friday, July 27th. Six equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Proofpoint currently has an average rating of “Buy” and a consensus target price of $131.30.

Proofpoint Profile

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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Institutional Ownership by Quarter for Proofpoint (NASDAQ:PFPT)

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