Parametric Portfolio Associates LLC Lowers Stake in Proofpoint Inc (NASDAQ:PFPT)

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Parametric Portfolio Associates LLC cut its holdings in Proofpoint Inc (NASDAQ:PFPT) by 9.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 85,796 shares of the software maker’s stock after selling 9,194 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Proofpoint were worth $10,418,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Proofpoint in the fourth quarter worth about $39,840,000. Bank of New York Mellon Corp increased its position in Proofpoint by 67.2% in the fourth quarter. Bank of New York Mellon Corp now owns 925,102 shares of the software maker’s stock worth $77,534,000 after purchasing an additional 371,864 shares during the period. Westfield Capital Management Co. LP increased its position in Proofpoint by 101.7% in the fourth quarter. Westfield Capital Management Co. LP now owns 493,611 shares of the software maker’s stock worth $41,370,000 after purchasing an additional 248,911 shares during the period. Scout Investments Inc. acquired a new stake in Proofpoint in the first quarter worth about $23,398,000. Finally, Teacher Retirement System of Texas increased its position in Proofpoint by 106.9% in the first quarter. Teacher Retirement System of Texas now owns 284,871 shares of the software maker’s stock worth $34,592,000 after purchasing an additional 147,173 shares during the period. Institutional investors own 95.50% of the company’s stock.

PFPT has been the subject of a number of research reports. Bank of America initiated coverage on Proofpoint in a research report on Friday, April 12th. They issued a “buy” rating and a $155.00 price objective for the company. BidaskClub upgraded Proofpoint from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 price objective (up from $130.00) on shares of Proofpoint in a research report on Tuesday, March 12th. Zacks Investment Research upgraded Proofpoint from a “hold” rating to a “buy” rating and set a $134.00 price objective for the company in a research report on Monday, February 25th. Finally, ValuEngine lowered Proofpoint from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $131.30.

In other news, EVP Bhagwat Swaroop sold 13,176 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $119.61, for a total transaction of $1,575,981.36. Following the completion of the transaction, the executive vice president now directly owns 13,451 shares in the company, valued at approximately $1,608,874.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Paul R. Auvil III sold 30,000 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $122.61, for a total value of $3,678,300.00. Following the transaction, the chief financial officer now owns 106,208 shares of the company’s stock, valued at $13,022,162.88. The disclosure for this sale can be found here. Insiders have sold a total of 169,635 shares of company stock valued at $20,211,080 over the last 90 days. Corporate insiders own 2.93% of the company’s stock.

Proofpoint stock opened at $109.35 on Friday. The stock has a market cap of $6.12 billion, a PE ratio of -95.09 and a beta of 1.75. Proofpoint Inc has a 1 year low of $75.92 and a 1 year high of $131.43. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.79 and a quick ratio of 0.79.

Proofpoint (NASDAQ:PFPT) last posted its earnings results on Thursday, April 25th. The software maker reported ($0.33) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.33). The company had revenue of $202.90 million during the quarter, compared to analyst estimates 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 in the previous year, the company earned $0.30 EPS. Equities analysts forecast that Proofpoint Inc will post -0.82 EPS for the current year.

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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.

Further Reading: Beta

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Institutional Ownership by Quarter for Proofpoint (NASDAQ:PFPT)

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