Jacobi Capital Management LLC Lowers Stake in Proofpoint Inc (NASDAQ:PFPT)

Jacobi Capital Management LLC reduced its holdings in shares of Proofpoint Inc (NASDAQ:PFPT) by 66.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100 shares of the software maker’s stock after selling 200 shares during the period. Jacobi Capital Management LLC’s holdings in Proofpoint were worth $33,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. BlackRock Inc. raised its holdings in Proofpoint by 5.8% in the first quarter. BlackRock Inc. now owns 2,908,291 shares of the software maker’s stock worth $298,361,000 after buying an additional 159,563 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Proofpoint by 58.5% in the first quarter. Bank of New York Mellon Corp now owns 2,076,735 shares of the software maker’s stock worth $213,053,000 after buying an additional 766,608 shares during the last quarter. Wasatch Advisors Inc. raised its holdings in Proofpoint by 29.1% in the first quarter. Wasatch Advisors Inc. now owns 1,684,535 shares of the software maker’s stock worth $172,816,000 after buying an additional 380,018 shares during the last quarter. Pictet Asset Management Ltd. raised its holdings in Proofpoint by 20.3% in the first quarter. Pictet Asset Management Ltd. now owns 1,097,357 shares of the software maker’s stock worth $112,578,000 after buying an additional 184,942 shares during the last quarter. Finally, Champlain Investment Partners LLC raised its holdings in Proofpoint by 12.4% in the first quarter. Champlain Investment Partners LLC now owns 761,150 shares of the software maker’s stock worth $78,086,000 after buying an additional 83,895 shares during the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

PFPT has been the subject of several recent analyst reports. Cowen decreased their target price on shares of Proofpoint from $145.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, April 21st. BidaskClub raised shares of Proofpoint from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Oppenheimer reissued a “hold” rating on shares of Proofpoint in a report on Friday. Wedbush boosted their price objective on shares of Proofpoint from $135.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, Citigroup boosted their price objective on shares of Proofpoint from $147.00 to $166.00 and gave the company a “buy” rating in a report on Friday, May 8th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $142.68.

In other Proofpoint news, CFO Paul R. Auvil III sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $125.02, for a total value of $3,125,500.00. Following the completion of the transaction, the chief financial officer now directly owns 103,149 shares in the company, valued at $12,895,687.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Bhagwat Swaroop sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $125.00, for a total transaction of $187,500.00. Following the completion of the transaction, the executive vice president now owns 1,698 shares of the company’s stock, valued at $212,250. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,892 shares of company stock valued at $9,347,982. Company insiders own 2.93% of the company’s stock.

Shares of NASDAQ PFPT opened at $115.67 on Friday. The firm has a 50 day moving average of $114.22 and a 200 day moving average of $115.53. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of -37.07 and a beta of 1.38. Proofpoint Inc has a 12-month low of $83.81 and a 12-month high of $133.58.

Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, July 30th. The software maker reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.78. The company had revenue of $258.44 million during the quarter, compared to analyst estimates of $252.95 million. Proofpoint had a negative net margin of 18.85% and a negative return on equity of 10.15%. Sell-side analysts predict that Proofpoint Inc will post -1.04 EPS for the current year.

About Proofpoint

Proofpoint, Inc operates as a security-as-a-service 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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