Legato Capital Management LLC raised its position in shares of Proofpoint, Inc. (NASDAQ:PFPT) by 306.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,571 shares of the software maker’s stock after buying an additional 7,217 shares during the quarter. Legato Capital Management LLC’s holdings in Proofpoint were worth $835,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of PFPT. D.A. Davidson & CO. lifted its stake in Proofpoint by 57.9% during the second quarter. D.A. Davidson & CO. now owns 1,175 shares of the software maker’s stock valued at $102,000 after buying an additional 431 shares in the last quarter. Fortaleza Asset Management Inc. increased its holdings in shares of Proofpoint by 22.4% in the 2nd quarter. Fortaleza Asset Management Inc. now owns 1,696 shares of the software maker’s stock valued at $147,000 after purchasing an additional 310 shares during the period. Creative Planning increased its holdings in shares of Proofpoint by 7.4% in the 2nd quarter. Creative Planning now owns 2,232 shares of the software maker’s stock valued at $194,000 after purchasing an additional 154 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Proofpoint in the 2nd quarter valued at about $215,000. Finally, Bluestein R H & Co. acquired a new position in shares of Proofpoint in the 2nd quarter valued at about $217,000.
A number of equities analysts have recently weighed in on the company. Oppenheimer Holdings, Inc. assumed coverage on Proofpoint in a report on Wednesday. They issued a “market perform” rating on the stock. UBS AG began coverage on Proofpoint in a report on Tuesday. They issued a “market perform” rating on the stock. Robert W. Baird restated a “hold” rating and issued a $100.00 price objective (up previously from $95.00) on shares of Proofpoint in a report on Friday, October 20th. Imperial Capital increased their price objective on Proofpoint from $102.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, October 20th. Finally, Piper Jaffray Companies set a $105.00 price objective on Proofpoint and gave the stock a “buy” rating in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the stock. Proofpoint currently has a consensus rating of “Buy” and an average price target of $101.70.
Proofpoint (NASDAQ:PFPT) last issued its earnings results on Thursday, October 19th. The software maker reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $134.30 million during the quarter, compared to analysts’ expectations of $131.48 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The business’s revenue for the quarter was up 34.6% compared to the same quarter last year.
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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