Renaissance Technologies LLC Sells 322,800 Shares of Proofpoint Inc (PFPT)

Renaissance Technologies LLC reduced its position in shares of Proofpoint Inc (NASDAQ:PFPT) by 85.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,400 shares of the software maker’s stock after selling 322,800 shares during the quarter. Renaissance Technologies LLC’s holdings in Proofpoint were worth $5,678,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of Proofpoint by 1.0% during the 3rd quarter. BlackRock Inc. now owns 2,488,546 shares of the software maker’s stock valued at $264,607,000 after buying an additional 25,562 shares in the last quarter. FMR LLC lifted its holdings in Proofpoint by 22.2% in the 3rd quarter. FMR LLC now owns 1,516,931 shares of the software maker’s stock worth $161,295,000 after purchasing an additional 276,000 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Proofpoint by 2.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,427,064 shares of the software maker’s stock worth $151,739,000 after purchasing an additional 38,862 shares in the last quarter. Wasatch Advisors Inc. lifted its holdings in Proofpoint by 40.0% in the 3rd quarter. Wasatch Advisors Inc. now owns 992,935 shares of the software maker’s stock worth $105,579,000 after purchasing an additional 283,598 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Proofpoint by 16.7% in the 3rd quarter. Jennison Associates LLC now owns 671,609 shares of the software maker’s stock worth $71,412,000 after purchasing an additional 96,065 shares in the last quarter. Institutional investors and hedge funds own 97.49% of the company’s stock.

PFPT has been the topic of a number of research analyst reports. Zacks Investment Research cut Proofpoint from a “hold” rating to a “sell” rating in a report on Thursday. Morgan Stanley set a $134.00 price target on Proofpoint and gave the stock a “buy” rating in a report on Friday, October 19th. JMP Securities lowered their price target on Proofpoint from $145.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. Wedbush lowered their price target on Proofpoint from $124.00 to $115.00 and set an “outperform” rating on the stock in a report on Tuesday, January 8th. They noted that the move was a valuation call. Finally, Wells Fargo & Co lowered their price target on Proofpoint from $150.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-two have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $121.68.

In other news, CEO Gary Steele sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $95.00, for a total transaction of $4,750,000.00. Following the sale, the chief executive officer now directly owns 152,577 shares of the company’s stock, valued at approximately $14,494,815. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.37% of the stock is owned by corporate insiders.

Shares of PFPT opened at $91.63 on Monday. The company has a market cap of $4.94 billion, a PE ratio of -69.95 and a beta of 1.48. Proofpoint Inc has a 1 year low of $75.92 and a 1 year high of $130.27.

Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, October 25th. The software maker reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.73. The business had revenue of $184.18 million for the quarter, compared to analysts’ expectations of $181.69 million. Proofpoint had a negative return on equity of 11.86% and a negative net margin of 14.08%. As a group, equities research analysts predict that Proofpoint Inc will post -1.14 earnings per share for the current fiscal year.

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Proofpoint Company 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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