Morgan Stanley Has $39.23 Million Holdings in Proofpoint Inc (PFPT)

Morgan Stanley cut its stake in shares of Proofpoint Inc (NASDAQ:PFPT) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 368,962 shares of the software maker’s stock after selling 20,015 shares during the period. Morgan Stanley owned approximately 0.68% of Proofpoint worth $39,233,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PFPT. Dimensional Fund Advisors LP raised its stake in shares of Proofpoint by 19.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 81,445 shares of the software maker’s stock worth $9,392,000 after buying an additional 13,077 shares in the last quarter. FMR LLC raised its stake in shares of Proofpoint by 2.5% during the 2nd quarter. FMR LLC now owns 1,240,931 shares of the software maker’s stock worth $143,092,000 after buying an additional 30,271 shares in the last quarter. Federated Investors Inc. PA raised its stake in shares of Proofpoint by 181.1% during the 2nd quarter. Federated Investors Inc. PA now owns 1,386 shares of the software maker’s stock worth $160,000 after buying an additional 893 shares in the last quarter. Baird Financial Group Inc. raised its stake in shares of Proofpoint by 36.6% during the 2nd quarter. Baird Financial Group Inc. now owns 15,032 shares of the software maker’s stock worth $1,733,000 after buying an additional 4,031 shares in the last quarter. Finally, Natixis purchased a new position in shares of Proofpoint during the 2nd quarter worth approximately $672,000. 97.49% of the stock is owned by hedge funds and other institutional investors.

In other Proofpoint news, CEO Gary Steele sold 50,000 shares of the stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $95.31, for a total transaction of $4,765,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.37% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:PFPT opened at $91.63 on Friday. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of -70.01 and a beta of 1.48. Proofpoint Inc has a one year low of $75.92 and a one year high of $130.27.

Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, October 25th. The software maker reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.73. The firm had revenue of $184.18 million for the quarter, compared to analysts’ expectations of $181.69 million. Proofpoint had a negative return on equity of 11.86% and a negative net margin of 14.08%. Equities research analysts forecast that Proofpoint Inc will post -1.14 earnings per share for the current year.

A number of brokerages have recently issued reports on PFPT. Zacks Investment Research downgraded Proofpoint from a “hold” rating to a “sell” rating in a research note on Thursday. Wedbush dropped their price objective on Proofpoint from $124.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday. They noted that the move was a valuation call. Guggenheim started coverage on Proofpoint in a research note on Monday, December 10th. They issued a “buy” rating and a $110.00 price objective for the company. Morgan Stanley dropped their price objective on Proofpoint from $134.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, October 29th. Finally, Goldman Sachs Group raised Proofpoint from a “neutral” rating to a “buy” rating and set a $114.00 price objective for the company in a research note on Monday, October 29th. One analyst has 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. Proofpoint has an average rating of “Buy” and an average price target of $121.68.

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Proofpoint Profile

Proofpoint, Inc operates as a security-as-a-service (SaaS) 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.

Further Reading: Cost of Equity

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Institutional Ownership by Quarter for Proofpoint (NASDAQ:PFPT)

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