Crow Point Partners LLC bought a new position in Proofpoint, Inc. (NASDAQ:PFPT) during the second quarter, Holdings Channel reports. The firm bought 8,782 shares of the software maker’s stock, valued at approximately $757,000.
Several other hedge funds and other institutional investors have also bought and sold shares of PFPT. Vanguard Group Inc. raised its position in Proofpoint by 6.7% in the first quarter. Vanguard Group Inc. now owns 3,314,857 shares of the software maker’s stock worth $246,493,000 after buying an additional 207,412 shares during the last quarter. BlackRock Inc. raised its position in Proofpoint by 22,439.7% in the first quarter. BlackRock Inc. now owns 3,193,429 shares of the software maker’s stock worth $237,464,000 after buying an additional 3,179,261 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Proofpoint by 161.6% in the first quarter. Artisan Partners Limited Partnership now owns 2,313,715 shares of the software maker’s stock worth $172,048,000 after buying an additional 1,429,192 shares during the last quarter. Macquarie Group Ltd. raised its position in Proofpoint by 17.0% in the fourth quarter. Macquarie Group Ltd. now owns 852,205 shares of the software maker’s stock worth $60,208,000 after buying an additional 123,655 shares during the last quarter. Finally, State Street Corp raised its position in Proofpoint by 3.3% in the first quarter. State Street Corp now owns 791,294 shares of the software maker’s stock worth $58,840,000 after buying an additional 25,368 shares during the last quarter.
Proofpoint, Inc. (NASDAQ PFPT) traded down 1.31% during mid-day trading on Monday, hitting $88.62. The stock had a trading volume of 843,228 shares. Proofpoint, Inc. has a 52 week low of $64.62 and a 52 week high of $94.33. The company’s 50 day moving average is $86.61 and its 200-day moving average is $79.84. The stock’s market capitalization is $3.87 billion.
Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings results on Thursday, April 20th. The software maker reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.03. The company had revenue of $113.30 million during the quarter, compared to analysts’ expectations of $110.60 million. Proofpoint had a negative return on equity of 126.46% and a negative net margin of 25.63%. The firm’s quarterly revenue was up 43.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.09) earnings per share. On average, analysts expect that Proofpoint, Inc. will post $0.59 EPS for the current fiscal year.
A number of research analysts recently weighed in on PFPT shares. Wedbush reissued an “outperform” rating and set a $93.00 target price (down from $98.00) on shares of Proofpoint in a report on Friday. ValuEngine raised Proofpoint from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Northland Securities reissued a “buy” rating and set a $100.00 target price on shares of Proofpoint in a report on Friday, June 30th. Rosenblatt Securities reissued a “buy” rating and set a $95.00 target price on shares of Proofpoint in a report on Sunday, April 23rd. Finally, Piper Jaffray Companies set a $90.00 target price on Proofpoint and gave the stock a “buy” rating in a report on Friday, April 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have assigned a buy rating to the stock. Proofpoint currently has a consensus rating of “Buy” and an average target price of $88.09.
In related news, EVP David Knight sold 3,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $83.62, for a total transaction of $250,860.00. Following the completion of the transaction, the executive vice president now directly owns 16,874 shares in the company, valued at $1,411,003.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Robert Darren Lee sold 3,250 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $75.26, for a total value of $244,595.00. Following the transaction, the senior vice president now owns 4,131 shares of the company’s stock, valued at $310,899.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,366 shares of company stock valued at $15,505,522. 6.80% of the stock is owned by company insiders.
Proofpoint Company Profile
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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