Macquarie Group Ltd. Has $79.99 Million Position in Proofpoint, Inc. (PFPT)
Macquarie Group Ltd. cut its stake in Proofpoint, Inc. (NASDAQ:PFPT) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 917,103 shares of the software maker’s stock after selling 25,863 shares during the quarter. Macquarie Group Ltd. owned about 2.05% of Proofpoint worth $79,990,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. D.A. Davidson & CO. lifted its position in shares of Proofpoint by 57.9% during the second quarter. D.A. Davidson & CO. now owns 1,175 shares of the software maker’s stock worth $102,000 after purchasing an additional 431 shares during the last quarter. Fortaleza Asset Management Inc. lifted its position in shares of 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 purchasing an additional 310 shares during the last quarter. Creative Planning lifted its position in shares of 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 purchasing an additional 154 shares during the last quarter. Legato Capital Management LLC bought a new stake in shares of Proofpoint during the second quarter worth $204,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Proofpoint during the second quarter worth $215,000.
Several research firms have recently weighed in on PFPT. Royal Bank Of Canada reiterated a “buy” rating and set a $103.00 target price on shares of Proofpoint in a research report on Thursday, August 31st. Wedbush restated an “outperform” rating and issued a $104.00 price objective (up from $98.00) on shares of Proofpoint in a report on Friday, July 28th. Piper Jaffray Companies set a $100.00 price objective on Proofpoint and gave the company a “buy” rating in a report on Sunday, October 15th. Evercore ISI set a $105.00 price objective on Proofpoint and gave the company a “buy” rating in a report on Friday, October 20th. Finally, Robert W. Baird restated a “hold” rating and issued a $100.00 price objective (up from $95.00) on shares of Proofpoint in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company. Proofpoint has an average rating of “Buy” and an average target price of $101.70.
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Shares of Proofpoint, Inc. (NASDAQ:PFPT) traded down $1.07 during midday trading on Friday, reaching $90.00. The company had a trading volume of 427,238 shares, compared to its average volume of 579,043. Proofpoint, Inc. has a 52-week low of $69.19 and a 52-week high of $97.92. The company has a debt-to-equity ratio of 11.57, a quick ratio of 1.51 and a current ratio of 1.51.
Proofpoint (NASDAQ:PFPT) last issued its earnings results on Thursday, October 19th. The software maker reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.07. The firm had revenue of $134.30 million for the quarter, compared to analyst estimates of $131.48 million. Proofpoint had a negative return on equity of 158.19% and a negative net margin of 20.19%. Proofpoint’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 earnings per share. sell-side analysts predict that Proofpoint, Inc. will post -0.88 earnings per share for the current fiscal year.
In other Proofpoint news, EVP David Knight sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $90.76, for a total value of $272,280.00. Following the completion of the transaction, the executive vice president now directly owns 16,874 shares of the company’s stock, valued at $1,531,484.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tracey Newell sold 8,183 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $94.82, for a total value of $775,912.06. Following the completion of the transaction, the executive vice president now directly owns 25,001 shares of the company’s stock, valued at $2,370,594.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,366 shares of company stock worth $15,215,777. 6.80% of the stock is owned by insiders.
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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