Sterling Capital Management LLC increased its holdings in shares of Proofpoint Inc (NASDAQ:PFPT) by 17.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,540 shares of the software maker’s stock after purchasing an additional 6,904 shares during the quarter. Sterling Capital Management LLC owned approximately 0.09% of Proofpoint worth $4,222,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in PFPT. Carillon Tower Advisers Inc. purchased a new position in Proofpoint during the 4th quarter valued at approximately $56,177,000. JPMorgan Chase & Co. grew its holdings in Proofpoint by 133.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 870,784 shares of the software maker’s stock valued at $76,551,000 after buying an additional 498,462 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in Proofpoint by 25.2% during the 4th quarter. TIAA CREF Investment Management LLC now owns 1,348,936 shares of the software maker’s stock valued at $119,799,000 after buying an additional 271,581 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in Proofpoint by 8.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 3,012,092 shares of the software maker’s stock valued at $262,715,000 after buying an additional 225,970 shares in the last quarter. Finally, Elk Creek Partners LLC purchased a new position in Proofpoint during the 3rd quarter valued at approximately $10,787,000.
In other news, SVP Robert Darren Lee sold 18,139 shares of Proofpoint stock in a transaction on Friday, February 16th. The stock was sold at an average price of $97.73, for a total value of $1,772,724.47. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gary Steele sold 40,000 shares of Proofpoint stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $92.06, for a total value of $3,682,400.00. Following the completion of the transaction, the chief executive officer now owns 88,551 shares in the company, valued at $8,152,005.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 136,120 shares of company stock valued at $13,359,684. 5.96% of the stock is currently owned by corporate insiders.
Several equities analysts have weighed in on PFPT shares. Deutsche Bank restated a “buy” rating and set a $114.00 price target on shares of Proofpoint in a report on Tuesday, January 30th. BidaskClub upgraded Proofpoint from a “buy” rating to a “strong-buy” rating in a report on Friday, January 26th. Piper Jaffray Companies reiterated a “buy” rating and issued a $112.00 target price on shares of Proofpoint in a report on Friday, November 24th. Wedbush reiterated an “outperform” rating and issued a $108.00 target price on shares of Proofpoint in a report on Wednesday, January 3rd. Finally, Zacks Investment Research cut Proofpoint from a “buy” rating to a “hold” rating in a report on Thursday, December 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Proofpoint currently has an average rating of “Buy” and an average price target of $111.21.
Shares of Proofpoint Inc (PFPT) opened at $117.34 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $6,156.04, a price-to-earnings ratio of -61.43 and a beta of 1.31. Proofpoint Inc has a 1 year low of $70.30 and a 1 year high of $123.87.
Proofpoint (NASDAQ:PFPT) last issued its earnings results on Tuesday, February 6th. The software maker reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.08. The business had revenue of $145.40 million during the quarter, compared to analyst estimates of $139.61 million. Proofpoint had a negative return on equity of 54.09% and a negative net margin of 16.37%. Proofpoint’s revenue was up 36.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 EPS. equities research analysts predict that Proofpoint Inc will post -1.01 earnings per share for the current year.
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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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