Pictet Asset Management Ltd. raised its stake in shares of Proofpoint, Inc. (NASDAQ:PFPT) by 42.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 529,500 shares of the software maker’s stock after buying an additional 157,000 shares during the period. Pictet Asset Management Ltd. owned 1.19% of Proofpoint worth $45,537,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PFPT. DekaBank Deutsche Girozentrale increased its stake in shares of Proofpoint by 400.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 2,500 shares of the software maker’s stock valued at $185,000 after buying an additional 2,000 shares in the last quarter. Creative Planning increased its stake in shares of Proofpoint by 7.4% in the second quarter. Creative Planning now owns 2,232 shares of the software maker’s stock valued at $194,000 after buying an additional 154 shares in the last quarter. Legato Capital Management LLC acquired a new stake in shares of Proofpoint during the second quarter valued at approximately $204,000. Envestnet Asset Management Inc. increased its stake in shares of Proofpoint by 18.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,897 shares of the software maker’s stock valued at $215,000 after buying an additional 446 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Proofpoint during the first quarter valued at approximately $220,000.

Proofpoint, Inc. (NASDAQ PFPT) opened at 86.88 on Wednesday. The company has a 50-day moving average price of $87.58 and a 200-day moving average price of $82.26. The company’s market capitalization is $3.86 billion. Proofpoint, Inc. has a one year low of $68.04 and a one year high of $94.33.

Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Thursday, July 27th. The software maker reported $0.17 EPS for the quarter, beating the consensus estimate of $0.12 by $0.05. Proofpoint had a negative net margin of 20.96% and a negative return on equity of 140.24%. The company had revenue of $122.30 million for the quarter, compared to analyst estimates of $119.58 million. During the same period in the prior year, the company earned $0.06 earnings per share. The firm’s revenue was up 36.0% on a year-over-year basis. Analysts expect that Proofpoint, Inc. will post $0.65 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This report was first published by Daily Political and is the property of of Daily Political. If you are accessing this report on another domain, it was illegally copied and republished in violation of US and international trademark & copyright legislation. The correct version of this report can be viewed at https://www.dailypolitical.com/2017/08/09/proofpoint-inc-nasdaqpfpt-position-increased-by-pictet-asset-management-ltd.html.

PFPT has been the topic of several recent analyst reports. Zacks Investment Research upgraded Proofpoint from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research note on Monday, April 24th. Rosenblatt Securities reiterated a “buy” rating and set a $95.00 target price on shares of Proofpoint in a research note on Sunday, April 23rd. Stifel Nicolaus reiterated a “buy” rating and set a $90.00 target price on shares of Proofpoint in a research note on Sunday, April 23rd. Deutsche Bank AG reiterated a “buy” rating and set a $90.00 target price (up from $85.00) on shares of Proofpoint in a research note on Sunday, April 23rd. Finally, Wunderlich reiterated a “buy” rating and set a $93.00 target price on shares of Proofpoint in a research note on Sunday, April 23rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $92.78.

In other news, EVP Bhagwat Swaroop sold 5,000 shares of the stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $85.17, for a total transaction of $425,850.00. Following the sale, the executive vice president now directly owns 13,161 shares of the company’s stock, valued at approximately $1,120,922.37. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Tracey Newell sold 8,183 shares of the stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $89.08, for a total transaction of $728,941.64. Following the sale, the executive vice president now directly owns 15,195 shares in the company, valued at $1,353,570.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 186,299 shares of company stock worth $15,989,869. Corporate insiders own 6.80% of the company’s stock.

About Proofpoint

Proofpoint, Inc is a security-as-a-service provider that enables large and mid-sized organizations to defend, protect, archive and govern their sensitive data. The Company’s security-as-a-service platform consists of an integrated suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication.

Want to see what other hedge funds are holding PFPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Proofpoint, Inc. (NASDAQ:PFPT).

Institutional Ownership by Quarter for Proofpoint (NASDAQ:PFPT)

Receive News & Ratings for Proofpoint Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proofpoint Inc. and related companies with MarketBeat.com's FREE daily email newsletter.