Victory Capital Management Inc. cut its position in shares of Proofpoint, Inc. (NASDAQ:PFPT) by 3.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 981,782 shares of the software maker’s stock after selling 29,940 shares during the period. Victory Capital Management Inc. owned 2.25% of Proofpoint worth $73,006,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. A.R.T. Advisors LLC raised its position in shares of Proofpoint by 239.7% in the fourth quarter. A.R.T. Advisors LLC now owns 23,100 shares of the software maker’s stock worth $1,632,000 after buying an additional 16,300 shares during the period. Northern Trust Corp raised its position in shares of Proofpoint by 0.6% in the third quarter. Northern Trust Corp now owns 584,319 shares of the software maker’s stock worth $43,737,000 after buying an additional 3,370 shares during the period. Flinton Capital Management LLC acquired a new position in shares of Proofpoint during the fourth quarter worth about $424,000. Russell Investments Group Ltd. acquired a new position in shares of Proofpoint during the fourth quarter worth about $6,735,000. Finally, AQR Capital Management LLC raised its position in shares of Proofpoint by 25.5% in the fourth quarter. AQR Capital Management LLC now owns 11,923 shares of the software maker’s stock worth $842,000 after buying an additional 2,426 shares during the period.
Shares of Proofpoint, Inc. (NASDAQ PFPT) traded up 0.76% during trading on Friday, reaching $87.45. The company’s stock had a trading volume of 595,208 shares. Proofpoint, Inc. has a one year low of $57.13 and a one year high of $94.33. The stock’s 50 day moving average is $84.49 and its 200 day moving average is $79.01. The firm’s market cap is $3.82 billion.
Proofpoint (NASDAQ:PFPT) last released its earnings results on Thursday, April 20th. The software maker reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. Proofpoint had a negative return on equity of 126.46% and a negative net margin of 25.63%. The firm had revenue of $113.30 million for the quarter, compared to analysts’ expectations of $110.60 million. During the same period in the prior year, the firm posted ($0.09) earnings per share. The company’s quarterly revenue was up 43.4% on a year-over-year basis. On average, equities analysts forecast that Proofpoint, Inc. will post $0.59 EPS for the current fiscal year.
A number of research analysts recently issued reports on PFPT shares. Goldman Sachs Group, Inc. (The) lowered shares of Proofpoint from a “neutral” rating to a “sell” rating and set a $69.00 price objective for the company. in a report on Thursday, March 23rd. Zacks Investment Research downgraded shares of Proofpoint from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Rosenblatt Securities reissued a “buy” rating and set a $95.00 target price on shares of Proofpoint in a research report on Sunday, April 23rd. DA Davidson raised shares of Proofpoint from a “neutral” rating to a “buy” rating and increased their target price for the company from $83.00 to $90.00 in a research report on Wednesday, April 19th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $90.00 target price (up previously from $85.00) on shares of Proofpoint in a research report on Sunday, April 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $86.95.
In other news, EVP David Knight sold 3,000 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $92.45, for a total value of $277,350.00. Following the sale, the executive vice president now directly owns 16,874 shares of the company’s stock, valued at $1,560,001.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Paul R. Auvil III sold 25,000 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $90.54, for a total value of $2,263,500.00. Following the completion of the sale, the chief financial officer now directly owns 104,705 shares in the company, valued at $9,479,990.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 227,549 shares of company stock worth $18,475,744. Insiders own 6.80% of the company’s stock.
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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