Amundi Pioneer Asset Management Inc. lessened its stake in Proofpoint Inc (NASDAQ:PFPT) by 11.5% in the 1st quarter, Holdings Channel reports. The firm owned 228,163 shares of the software maker’s stock after selling 29,737 shares during the period. Amundi Pioneer Asset Management Inc.’s holdings in Proofpoint were worth $27,706,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of PFPT. Manchester Capital Management LLC purchased a new position in Proofpoint in the first quarter worth approximately $56,000. AdvisorNet Financial Inc grew its position in Proofpoint by 88.7% in the fourth quarter. AdvisorNet Financial Inc now owns 1,170 shares of the software maker’s stock worth $98,000 after acquiring an additional 550 shares during the period. World Asset Management Inc purchased a new position in Proofpoint in the first quarter worth approximately $207,000. Advisor Group Inc. grew its position in Proofpoint by 32.4% in the first quarter. Advisor Group Inc. now owns 1,722 shares of the software maker’s stock worth $209,000 after acquiring an additional 421 shares during the period. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in Proofpoint in the fourth quarter worth approximately $210,000. 95.50% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Richard Scott Herren sold 844 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $112.77, for a total value of $95,177.88. Following the sale, the director now directly owns 12,384 shares in the company, valued at $1,396,543.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bhagwat Swaroop sold 13,176 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $119.61, for a total value of $1,575,981.36. Following the completion of the sale, the executive vice president now owns 13,451 shares in the company, valued at $1,608,874.11. The disclosure for this sale can be found here. Over the last quarter, insiders sold 169,635 shares of company stock worth $20,211,080. Insiders own 2.93% of the company’s stock.
Shares of NASDAQ PFPT opened at $109.85 on Thursday. The firm has a market capitalization of $6.12 billion, a PE ratio of -95.52 and a beta of 1.75. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.79 and a current ratio of 0.79. Proofpoint Inc has a 12-month low of $75.92 and a 12-month high of $131.43.
Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings data on Thursday, April 25th. The software maker reported ($0.33) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.33). The business had revenue of $202.90 million for the quarter, compared to analysts’ expectations of $199.32 million. Proofpoint had a negative return on equity of 13.93% and a negative net margin of 15.82%. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period last year, the firm earned $0.30 earnings per share. As a group, analysts anticipate that Proofpoint Inc will post -0.82 earnings per share for the current year.
Several research analysts recently weighed in on PFPT shares. Piper Jaffray Companies increased their price objective on Proofpoint from $120.00 to $136.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Mizuho started coverage on Proofpoint in a research report on Tuesday, March 26th. They set a “neutral” rating and a $120.00 price target for the company. Wedbush restated an “outperform” rating and set a $138.00 price target (up from $130.00) on shares of Proofpoint in a research report on Friday, April 26th. KeyCorp raised their price target on Proofpoint from $120.00 to $136.00 and gave the stock an “overweight” rating in a research report on Monday, February 25th. Finally, Morgan Stanley set a $142.00 price target on Proofpoint and gave the stock a “buy” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Proofpoint currently has a consensus rating of “Buy” and an average price target of $131.30.
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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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