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.
COPYRIGHT VIOLATION WARNING: “Morgan Stanley Has $39.23 Million Holdings in Proofpoint Inc (PFPT)” was originally reported by Transcript Daily and is owned by of Transcript Daily. If you are accessing this story on another domain, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this story can be viewed at https://transcriptdaily.com/2019/01/12/morgan-stanley-has-39-23-million-holdings-in-proofpoint-inc-pfpt.html.
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
Want to see what other hedge funds are holding PFPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Proofpoint Inc (NASDAQ:PFPT).
Receive News & Ratings for Proofpoint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proofpoint and related companies with MarketBeat.com's FREE daily email newsletter.