Proofpoint, Inc. (PFPT) Shares Bought by Tiverton Asset Management LLC
Tiverton Asset Management LLC grew its position in shares of Proofpoint, Inc. (NASDAQ:PFPT) by 32.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,697 shares of the software maker’s stock after acquiring an additional 18,467 shares during the quarter. Tiverton Asset Management LLC owned about 0.17% of Proofpoint worth $6,486,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Fortaleza Asset Management Inc. increased its stake in Proofpoint by 22.4% during the second quarter. Fortaleza Asset Management Inc. now owns 1,696 shares of the software maker’s stock worth $147,000 after acquiring an additional 310 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Proofpoint by 400.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 2,500 shares of the software maker’s stock worth $185,000 after acquiring an additional 2,000 shares during the last quarter. Creative Planning increased its stake in Proofpoint by 7.4% during the second quarter. Creative Planning now owns 2,232 shares of the software maker’s stock worth $194,000 after acquiring an additional 154 shares during the last quarter. Legato Capital Management LLC acquired a new stake in Proofpoint during the second quarter worth about $204,000. Finally, Envestnet Asset Management Inc. increased its stake in Proofpoint by 18.2% during the first quarter. Envestnet Asset Management Inc. now owns 2,897 shares of the software maker’s stock worth $215,000 after acquiring an additional 446 shares during the last quarter.
In other Proofpoint news, Chairman Eric Hahn sold 5,000 shares of Proofpoint stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $90.53, for a total transaction of $452,650.00. Following the sale, the chairman now directly owns 53,701 shares of the company’s stock, valued at $4,861,551.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Knight sold 3,000 shares of Proofpoint stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $84.54, for a total value of $253,620.00. Following the sale, the executive vice president now directly owns 16,874 shares in the company, valued at $1,426,527.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,549 shares of company stock worth $11,524,841. 6.80% of the stock is owned by company insiders.
Shares of Proofpoint, Inc. (PFPT) traded up 0.2205% during mid-day trading on Friday, hitting $88.0036. The stock had a trading volume of 137,602 shares. The stock’s market cap is $3.91 billion. The firm has a 50 day moving average of $88.88 and a 200 day moving average of $83.90. Proofpoint, Inc. has a one year low of $68.04 and a one year high of $97.00.
Proofpoint (NASDAQ:PFPT) last released its earnings results on Thursday, July 27th. The software maker reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.05. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. The business had revenue of $122.30 million for the quarter, compared to the consensus estimate of $119.58 million. During the same period last year, the business earned $0.06 earnings per share. The firm’s revenue for the quarter was up 36.0% compared to the same quarter last year. On average, analysts forecast that Proofpoint, Inc. will post $0.65 earnings per share for the current year.
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PFPT has been the subject of several research analyst reports. Morgan Stanley restated an “overweight” rating and set a $102.00 price target (up from $97.00) on shares of Proofpoint in a research note on Thursday, July 20th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Proofpoint in a research report on Friday, June 23rd. Northland Securities reaffirmed a “buy” rating and issued a $100.00 target price on shares of Proofpoint in a research report on Friday, June 30th. FBN Securities began coverage on Proofpoint in a research report on Monday, May 22nd. They issued an “outperform” rating and a $95.00 target price for the company. Finally, ValuEngine raised Proofpoint from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-one have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $98.91.
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.
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