Alps Advisors Inc. decreased its position in Proofpoint Inc (NASDAQ:PFPT) by 13.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,551 shares of the software maker’s stock after selling 856 shares during the quarter. Alps Advisors Inc.’s holdings in Proofpoint were worth $716,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of PFPT. Quest Capital Management Inc. ADV acquired a new stake in Proofpoint in the third quarter valued at approximately $28,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Proofpoint during the third quarter worth approximately $32,000. Steward Partners Investment Advisory LLC grew its position in shares of Proofpoint by 714.3% during the third quarter. Steward Partners Investment Advisory LLC now owns 456 shares of the software maker’s stock worth $58,000 after buying an additional 400 shares in the last quarter. Ashburton Jersey Ltd acquired a new stake in shares of Proofpoint during the second quarter worth approximately $60,000. Finally, AlphaOne Investment Services LLC acquired a new stake in shares of Proofpoint during the second quarter worth approximately $72,000. 98.12% of the stock is owned by institutional investors.
A number of research firms have recently weighed in on PFPT. Piper Jaffray Companies began coverage on shares of Proofpoint in a research report on Friday, November 8th. They set an “overweight” rating and a $155.00 price target for the company. Deutsche Bank raised shares of Proofpoint from a “hold” rating to a “buy” rating and raised their price target for the stock from $129.00 to $147.00 in a research report on Wednesday, September 4th. Morgan Stanley decreased their price target on shares of Proofpoint from $148.00 to $146.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Wedbush reissued an “outperform” rating and set a $140.00 price target on shares of Proofpoint in a research report on Friday, October 25th. Finally, SunTrust Banks began coverage on shares of Proofpoint in a research report on Wednesday, October 2nd. They set a “hold” rating and a $135.00 price target for the company. Five research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Proofpoint presently has an average rating of “Buy” and an average target price of $141.61.
PFPT stock traded up $0.10 during mid-day trading on Wednesday, reaching $119.37. The company had a trading volume of 395,134 shares, compared to its average volume of 608,782. Proofpoint Inc has a one year low of $78.69 and a one year high of $133.58. The stock’s 50-day simple moving average is $118.78 and its two-hundred day simple moving average is $119.75. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $6.65 billion, a P/E ratio of -103.80 and a beta of 1.61.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, October 24th. The software maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.10. Proofpoint had a negative net margin of 14.56% and a negative return on equity of 10.85%. The business had revenue of $227.40 million for the quarter, compared to analysts’ expectations of $224.32 million. During the same period in the previous year, the business earned $0.40 earnings per share. The company’s revenue was up 23.5% on a year-over-year basis. On average, research analysts forecast that Proofpoint Inc will post -0.62 EPS for the current fiscal year.
In other news, EVP Blake P. Salle sold 10,479 shares of Proofpoint stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $119.97, for a total transaction of $1,257,165.63. Following the completion of the sale, the executive vice president now directly owns 843 shares in the company, valued at approximately $101,134.71. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gary Steele sold 20,000 shares of Proofpoint stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $130.74, for a total value of $2,614,800.00. Following the sale, the chief executive officer now owns 95,148 shares of the company’s stock, valued at $12,439,649.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,179 shares of company stock worth $9,824,113. 2.93% of the stock is owned by corporate insiders.
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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