Proofpoint, Inc. (PFPT) Position Boosted by Artisan Partners Limited Partnership
Artisan Partners Limited Partnership increased its holdings in shares of Proofpoint, Inc. (NASDAQ:PFPT) by 8.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,012,092 shares of the software maker’s stock after buying an additional 225,970 shares during the quarter. Artisan Partners Limited Partnership owned about 6.72% of Proofpoint worth $262,715,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Proofpoint by 9.7% during the second quarter. BlackRock Inc. now owns 3,503,427 shares of the software maker’s stock worth $304,204,000 after buying an additional 309,998 shares during the period. Vanguard Group Inc. lifted its position in Proofpoint by 2.3% during the second quarter. Vanguard Group Inc. now owns 3,392,578 shares of the software maker’s stock worth $294,577,000 after buying an additional 77,721 shares during the period. FMR LLC lifted its position in Proofpoint by 10.9% during the second quarter. FMR LLC now owns 961,745 shares of the software maker’s stock worth $83,508,000 after buying an additional 94,545 shares during the period. Macquarie Group Ltd. lifted its position in Proofpoint by 13.0% during the second quarter. Macquarie Group Ltd. now owns 942,966 shares of the software maker’s stock worth $81,878,000 after buying an additional 108,772 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Proofpoint by 133.9% during the third quarter. JPMorgan Chase & Co. now owns 870,784 shares of the software maker’s stock worth $76,551,000 after buying an additional 498,462 shares during the period.
In other Proofpoint news, CEO Gary Steele sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $88.60, for a total transaction of $3,544,000.00. Following the completion of the sale, the chief executive officer now owns 88,551 shares in the company, valued at approximately $7,845,618.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Tracey Newell sold 8,183 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $89.96, for a total value of $736,142.68. Following the sale, the executive vice president now owns 24,429 shares of the company’s stock, valued at approximately $2,197,632.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,549 shares of company stock valued at $15,277,790. Insiders own 5.96% of the company’s stock.
Shares of Proofpoint, Inc. (NASDAQ PFPT) opened at $90.54 on Friday. 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, Inc. has a 12 month low of $69.19 and a 12 month high of $97.92.
Proofpoint (NASDAQ:PFPT) last posted its earnings results on Thursday, October 19th. The software maker reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.07. Proofpoint had a negative return on equity of 158.19% and a negative net margin of 20.19%. The business had revenue of $134.30 million during the quarter, compared to analyst estimates of $131.48 million. During the same quarter last year, the firm earned $0.19 earnings per share. The company’s revenue for the quarter was up 34.6% compared to the same quarter last year. sell-side analysts predict that Proofpoint, Inc. will post -0.88 EPS for the current fiscal year.
Several equities research analysts have commented on the company. Royal Bank Of Canada restated a “buy” rating and set a $103.00 price target on shares of Proofpoint in a research note on Thursday, August 31st. KeyCorp restated a “neutral” rating on shares of Proofpoint in a research note on Friday, November 24th. BidaskClub upgraded Proofpoint from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Cowen assumed coverage on Proofpoint in a research note on Thursday, August 17th. They set an “outperform” rating and a $105.00 price target for the company. Finally, Piper Jaffray Companies restated a “buy” rating and set a $112.00 price target on shares of Proofpoint in a research note on Friday, November 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $102.00.
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Proofpoint Company Profile
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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