Carillon Tower Advisers Inc. decreased its holdings in Proofpoint Inc (NASDAQ:PFPT) by 8.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 579,740 shares of the software maker’s stock after selling 52,818 shares during the period. Carillon Tower Advisers Inc.’s holdings in Proofpoint were worth $66,850,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also modified their holdings of PFPT. Whale Rock Capital Management LLC acquired a new stake in Proofpoint in the 1st quarter worth about $123,305,000. Atlantic Trust Group LLC raised its stake in Proofpoint by 2,735.3% in the 1st quarter. Atlantic Trust Group LLC now owns 543,178 shares of the software maker’s stock worth $61,732,000 after purchasing an additional 524,020 shares in the last quarter. Jennison Associates LLC raised its stake in Proofpoint by 73.3% in the 2nd quarter. Jennison Associates LLC now owns 575,544 shares of the software maker’s stock worth $66,366,000 after purchasing an additional 243,380 shares in the last quarter. Legal & General Group Plc raised its stake in Proofpoint by 843.3% in the 1st quarter. Legal & General Group Plc now owns 194,464 shares of the software maker’s stock worth $22,101,000 after purchasing an additional 173,849 shares in the last quarter. Finally, Columbus Circle Investors acquired a new stake in Proofpoint in the 1st quarter worth about $17,699,000. Institutional investors and hedge funds own 99.08% of the company’s stock.
Several analysts have weighed in on the stock. BidaskClub cut shares of Proofpoint from a “buy” rating to a “hold” rating in a research note on Thursday, August 16th. Zacks Investment Research upgraded shares of Proofpoint from a “sell” rating to a “buy” rating and set a $128.00 price objective for the company in a research note on Wednesday, August 1st. Morgan Stanley lifted their price objective on shares of Proofpoint from $135.00 to $139.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price objective on shares of Proofpoint in a research note on Friday, July 27th. Finally, Stifel Nicolaus lifted their price objective on shares of Proofpoint to $130.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $128.68.
PFPT stock opened at $113.72 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.65 and a current ratio of 0.65. Proofpoint Inc has a 12 month low of $82.61 and a 12 month high of $130.27.
Proofpoint (NASDAQ:PFPT) last released its earnings results on Thursday, July 26th. The software maker reported $0.26 EPS for the quarter, beating the consensus estimate of $0.17 by $0.09. Proofpoint had a negative net margin of 12.93% and a negative return on equity of 16.48%. The firm had revenue of $171.90 million for the quarter, compared to analyst estimates of $169.46 million. During the same period last year, the firm earned $0.17 EPS. The business’s quarterly revenue was up 40.6% compared to the same quarter last year. research analysts predict that Proofpoint Inc will post -1.18 earnings per share for the current fiscal year.
In related news, EVP David Knight sold 7,500 shares of Proofpoint stock in a transaction that occurred on Wednesday, July 11th. The shares were sold at an average price of $126.02, for a total transaction of $945,150.00. Following the sale, the executive vice president now directly owns 24,814 shares of the company’s stock, valued at approximately $3,127,060.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bhagwat Swaroop sold 4,000 shares of Proofpoint stock in a transaction that occurred on Friday, July 6th. The shares were sold at an average price of $116.28, for a total transaction of $465,120.00. Following the sale, the executive vice president now directly owns 13,784 shares in the company, valued at $1,602,803.52. The disclosure for this sale can be found here. Insiders have sold a total of 203,751 shares of company stock worth $24,297,264 over the last ninety days. 3.37% of the stock is currently owned by insiders.
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.
Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks
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