Teacher Retirement System of Texas Increases Stake in Proofpoint Inc (NASDAQ:PFPT)

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Teacher Retirement System of Texas grew its stake in Proofpoint Inc (NASDAQ:PFPT) by 1.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 288,971 shares of the software maker’s stock after buying an additional 4,100 shares during the quarter. Teacher Retirement System of Texas’ holdings in Proofpoint were worth $34,749,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Manchester Capital Management LLC purchased a new position in shares of Proofpoint in the 1st quarter valued at about $56,000. Ashburton Jersey Ltd purchased a new stake in Proofpoint during the second quarter worth approximately $60,000. Shine Investment Advisory Services Inc. lifted its stake in Proofpoint by 82.8% during the second quarter. Shine Investment Advisory Services Inc. now owns 607 shares of the software maker’s stock worth $73,000 after purchasing an additional 275 shares during the last quarter. Rehmann Capital Advisory Group lifted its stake in Proofpoint by 72.0% during the first quarter. Rehmann Capital Advisory Group now owns 786 shares of the software maker’s stock worth $95,000 after purchasing an additional 329 shares during the last quarter. Finally, Coastal Capital Group Inc. purchased a new stake in Proofpoint during the second quarter worth approximately $105,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

Several research firms recently weighed in on PFPT. Northland Securities restated a “buy” rating and set a $160.00 target price on shares of Proofpoint in a research note on Friday, July 26th. Royal Bank of Canada set a $150.00 target price on Proofpoint and gave the stock a “buy” rating in a research note on Friday, July 26th. Robert W. Baird restated a “buy” rating on shares of Proofpoint in a research note on Friday, April 26th. Evercore ISI set a $150.00 target price on Proofpoint and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Mizuho boosted their target price on Proofpoint from $120.00 to $128.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $138.18.

NASDAQ PFPT traded down $1.99 on Thursday, reaching $115.61. The stock had a trading volume of 8,326 shares, compared to its average volume of 526,327. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.66 and a current ratio of 0.67. Proofpoint Inc has a 12-month low of $75.92 and a 12-month high of $132.85. The business’s 50-day moving average price is $122.60 and its 200 day moving average price is $119.29. The stock has a market cap of $6.57 billion, a P/E ratio of -100.35 and a beta of 1.66.

Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, July 25th. The software maker reported ($0.27) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.07). Proofpoint had a negative net margin of 14.31% and a negative return on equity of 11.24%. The firm had revenue of $214.40 million during the quarter, compared to analysts’ expectations of $211.33 million. During the same quarter in the prior year, the firm posted $0.26 EPS. Proofpoint’s quarterly revenue was up 24.7% compared to the same quarter last year. On average, sell-side analysts predict that Proofpoint Inc will post -0.77 earnings per share for the current year.

In other news, Director Michael M. Johnson sold 843 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $123.18, for a total value of $103,840.74. Following the transaction, the director now owns 3,688 shares of the company’s stock, valued at $454,287.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Robert Darren Lee sold 2,615 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were 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. In the last quarter, insiders sold 84,885 shares of company stock valued at $9,963,092. 2.93% of the stock is owned by company insiders.

Proofpoint Company Profile

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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