Signature Estate & Investment Advisors LLC bought a new stake in Proofpoint Inc (NASDAQ:PFPT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,613 shares of the software maker’s stock, valued at approximately $1,276,000.
Several other institutional investors and hedge funds have also recently modified their holdings of PFPT. First Trust Advisors LP raised its stake in shares of Proofpoint by 90.9% in the second quarter. First Trust Advisors LP now owns 539,145 shares of the software maker’s stock valued at $64,832,000 after buying an additional 256,737 shares during the period. Pictet Asset Management Ltd. raised its stake in shares of Proofpoint by 47.0% in the first quarter. Pictet Asset Management Ltd. now owns 792,500 shares of the software maker’s stock valued at $96,233,000 after buying an additional 253,500 shares during the period. Wells Fargo & Company MN raised its stake in shares of Proofpoint by 14.9% in the first quarter. Wells Fargo & Company MN now owns 1,430,731 shares of the software maker’s stock valued at $173,733,000 after buying an additional 185,889 shares during the period. SQN Investors LP bought a new stake in shares of Proofpoint in the first quarter valued at $20,939,000. Finally, Teacher Retirement System of Texas raised its stake in shares of Proofpoint by 106.9% in the first quarter. Teacher Retirement System of Texas now owns 284,871 shares of the software maker’s stock valued at $34,592,000 after buying an additional 147,173 shares during the period. Hedge funds and other institutional investors own 94.46% of the company’s stock.
In other news, CEO Gary Steele sold 20,000 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $123.79, for a total value of $2,475,800.00. Following the completion of the transaction, the chief executive officer now directly owns 100,574 shares in the company, valued at approximately $12,450,055.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert Darren Lee sold 2,615 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $107.83, for a total value of $281,975.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,872 shares of company stock valued at $7,511,021. 2.93% of the stock is owned by company insiders.
Proofpoint (NASDAQ:PFPT) last posted its earnings results on Thursday, July 25th. The software maker reported ($0.27) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.07). Proofpoint had a negative return on equity of 11.24% and a negative net margin of 14.31%. The business had revenue of $214.40 million for the quarter, compared to analysts’ expectations of $211.33 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. Proofpoint’s quarterly revenue was up 24.7% compared to the same quarter last year. As a group, research analysts expect that Proofpoint Inc will post -0.77 earnings per share for the current year.
Several analysts have issued reports on PFPT shares. Wells Fargo & Co boosted their target price on Proofpoint from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Cowen assumed coverage on Proofpoint in a research note on Thursday, May 23rd. They set an “outperform” rating and a $140.00 price objective on the stock. KeyCorp boosted their price objective on Proofpoint from $136.00 to $154.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Deutsche Bank set a $129.00 price objective on Proofpoint and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, BidaskClub lowered Proofpoint from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Proofpoint currently has a consensus rating of “Buy” and an average price target of $138.18.
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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