Shine Investment Advisory Services Inc. grew its position in Proofpoint Inc (NASDAQ:PFPT) by 82.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 607 shares of the software maker’s stock after buying an additional 275 shares during the quarter. Shine Investment Advisory Services Inc.’s holdings in Proofpoint were worth $73,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the business. Norges Bank bought a new position in shares of Proofpoint in the 4th quarter worth $39,840,000. Pictet Asset Management Ltd. raised its position in shares of Proofpoint by 47.0% in the 1st quarter. Pictet Asset Management Ltd. now owns 792,500 shares of the software maker’s stock worth $96,233,000 after acquiring an additional 253,500 shares in the last quarter. Scout Investments Inc. bought a new position in shares of Proofpoint in the 1st quarter worth $23,398,000. Wells Fargo & Company MN raised its position in shares of Proofpoint by 14.9% in the 1st quarter. Wells Fargo & Company MN now owns 1,430,731 shares of the software maker’s stock worth $173,733,000 after acquiring an additional 185,889 shares in the last quarter. Finally, SQN Investors LP bought a new position in shares of Proofpoint in the 1st quarter worth $20,939,000. Institutional investors and hedge funds own 95.16% of the company’s stock.
Shares of PFPT stock traded down $2.10 during mid-day trading on Wednesday, reaching $117.01. The stock had a trading volume of 65,898 shares, compared to its average volume of 517,546. The business has a fifty day moving average of $122.31. The company has a current ratio of 0.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.07. The company has a market cap of $6.64 billion, a price-to-earnings ratio of -101.75 and a beta of 1.66. Proofpoint Inc has a 1-year low of $75.92 and a 1-year high of $132.85.
Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings data on Thursday, July 25th. The software maker reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.07). The firm had revenue of $214.40 million during the quarter, compared to analyst estimates of $211.33 million. Proofpoint had a negative net margin of 14.31% and a negative return on equity of 11.24%. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. Analysts forecast that Proofpoint Inc will post -0.77 earnings per share for the current year.
Several research analysts have recently commented on the company. Zacks Investment Research raised Proofpoint from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Thursday, June 20th. Monness Crespi & Hardt reissued a “buy” rating and issued a $150.00 price target (up from $137.00) on shares of Proofpoint in a research report on Friday, July 26th. Robert W. Baird reaffirmed a “buy” rating on shares of Proofpoint in a research report on Friday, April 26th. Dougherty & Co reaffirmed a “buy” rating and set a $140.00 target price (up from $115.00) on shares of Proofpoint in a research report on Friday, April 26th. Finally, Mizuho upped their target price on Proofpoint from $120.00 to $128.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $138.18.
In other news, CEO Gary Steele sold 20,000 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $118.93, for a total value of $2,378,600.00. Following the transaction, the chief executive officer now directly owns 120,638 shares of the company’s stock, valued at $14,347,477.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paul R. Auvil III sold 30,000 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $120.86, for a total value of $3,625,800.00. Following the completion of the transaction, the chief financial officer now directly owns 106,208 shares in the company, valued at $12,836,298.88. The disclosure for this sale can be found here. Insiders sold 112,885 shares of company stock worth $13,399,913 over the last three months. Corporate insiders own 2.93% of the company’s stock.
Proofpoint Company Profile
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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