DekaBank Deutsche Girozentrale boosted its stake in Proofpoint Inc (NASDAQ:PFPT) by 1,609.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,839 shares of the software maker’s stock after acquiring an additional 6,439 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Proofpoint were worth $810,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Federated Investors Inc. PA raised its position in Proofpoint by 181.1% in the second quarter. Federated Investors Inc. PA now owns 1,386 shares of the software maker’s stock worth $160,000 after acquiring an additional 893 shares during the period. CIBC Asset Management Inc bought a new stake in Proofpoint in the second quarter worth about $211,000. NumerixS Investment Technologies Inc bought a new stake in Proofpoint in the second quarter worth about $255,000. Cambridge Investment Research Advisors Inc. bought a new stake in Proofpoint in the third quarter worth about $256,000. Finally, Alps Advisors Inc. bought a new stake in Proofpoint in the second quarter worth about $282,000. 97.81% of the stock is currently owned by institutional investors and hedge funds.
PFPT has been the topic of several research reports. Morgan Stanley set a $134.00 price objective on shares of Proofpoint and gave the stock a “buy” rating in a research report on Friday, October 19th. Monness Crespi & Hardt lowered their price objective on shares of Proofpoint from $140.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, October 26th. Deutsche Bank lowered their price objective on shares of Proofpoint to $125.00 and set a “buy” rating on the stock in a research report on Monday, October 1st. ValuEngine lowered shares of Proofpoint from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 18th. Finally, Goldman Sachs Group raised shares of Proofpoint from a “neutral” rating to a “buy” rating and set a $114.00 price objective on the stock in a research report on Monday, October 29th. Three equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $125.05.
In related news, CEO Gary Steele sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $98.64, for a total transaction of $4,932,000.00. Following the completion of the transaction, the chief executive officer now owns 154,960 shares of the company’s stock, valued at $15,285,254.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Bhagwat Swaroop sold 1,386 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $104.45, for a total transaction of $144,767.70. The disclosure for this sale can be found here. In the last three months, insiders sold 102,886 shares of company stock worth $9,996,618. Insiders own 5.96% of the company’s stock.
NASDAQ PFPT opened at $91.28 on Friday. Proofpoint Inc has a 12-month low of $75.92 and a 12-month high of $130.27. The company has a market capitalization of $5.06 billion, a PE ratio of -69.68 and a beta of 1.46.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Thursday, October 25th. The software maker reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.73. Proofpoint had a negative net margin of 14.08% and a negative return on equity of 11.86%. The company had revenue of $184.18 million for the quarter, compared to analyst estimates of $181.69 million. On average, sell-side analysts expect that Proofpoint Inc will post -1.14 EPS for the current year.
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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.
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