Crow Point Partners LLC bought a new position in shares of Proofpoint, Inc. (NASDAQ:PFPT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,782 shares of the software maker’s stock, valued at approximately $757,000.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Proofpoint by 22,439.7% in the first quarter. BlackRock Inc. now owns 3,193,429 shares of the software maker’s stock valued at $237,464,000 after buying an additional 3,179,261 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Proofpoint by 161.6% in the first quarter. Artisan Partners Limited Partnership now owns 2,313,715 shares of the software maker’s stock valued at $172,048,000 after buying an additional 1,429,192 shares during the last quarter. Garelick Capital Partners LP purchased a new stake in shares of Proofpoint during the first quarter valued at approximately $16,259,000. Vanguard Group Inc. boosted its stake in shares of Proofpoint by 6.7% in the first quarter. Vanguard Group Inc. now owns 3,314,857 shares of the software maker’s stock valued at $246,493,000 after buying an additional 207,412 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Proofpoint during the fourth quarter valued at approximately $9,638,000.
Proofpoint, Inc. (PFPT) opened at 86.84 on Friday. The firm’s 50-day moving average is $87.56 and its 200-day moving average is $82.49. The firm’s market cap is $3.86 billion. Proofpoint, Inc. has a 52-week low of $68.04 and a 52-week high of $94.33.
Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, July 27th. The software maker reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. Proofpoint had a negative net margin of 20.96% and a negative return on equity of 140.24%. The business had revenue of $122.30 million for the quarter, compared to the consensus estimate of $119.58 million. During the same period last year, the firm posted $0.06 earnings per share. Proofpoint’s quarterly revenue was up 36.0% on a year-over-year basis. Analysts forecast that Proofpoint, Inc. will post $0.65 EPS for the current fiscal year.
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Several brokerages recently commented on PFPT. Zacks Investment Research cut Proofpoint from a “buy” rating to a “hold” rating in a report on Friday. Northland Securities set a $100.00 target price on Proofpoint and gave the stock a “buy” rating in a report on Thursday, August 3rd. Imperial Capital reaffirmed an “outperform” rating and issued a $102.00 price target (up previously from $100.00) on shares of Proofpoint in a report on Wednesday, August 2nd. BidaskClub cut Proofpoint from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, ValuEngine cut Proofpoint from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-one have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $92.78.
In other Proofpoint news, CFO Paul R. Auvil III sold 25,000 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $86.08, for a total transaction of $2,152,000.00. Following the transaction, the chief financial officer now directly owns 120,478 shares in the company, valued at $10,370,746.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Knight sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $92.45, for a total transaction of $277,350.00. Following the transaction, the executive vice president now owns 16,874 shares in the company, valued at $1,560,001.30. The disclosure for this sale can be found here. Insiders have sold 186,299 shares of company stock worth $15,989,869 over the last quarter. Company insiders own 6.80% of the company’s stock.
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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