Gabelli Funds LLC trimmed its holdings in Proofpoint Inc (NASDAQ:PFPT) by 64.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,925 shares of the software maker’s stock after selling 28,983 shares during the period. Gabelli Funds LLC’s holdings in Proofpoint were worth $1,934,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. MML Investors Services LLC lifted its position in shares of Proofpoint by 0.9% during the fourth quarter. MML Investors Services LLC now owns 9,399 shares of the software maker’s stock valued at $788,000 after purchasing an additional 88 shares in the last quarter. Thornburg Investment Management Inc. lifted its position in shares of Proofpoint by 90.4% during the fourth quarter. Thornburg Investment Management Inc. now owns 123,938 shares of the software maker’s stock valued at $10,387,000 after purchasing an additional 58,838 shares in the last quarter. Great West Life Assurance Co. Can raised its position in Proofpoint by 13.1% in the fourth quarter. Great West Life Assurance Co. Can now owns 5,933 shares of the software maker’s stock worth $480,000 after acquiring an additional 686 shares during the period. Coronation Fund Managers Ltd. bought a new stake in Proofpoint in the first quarter worth about $4,679,000. Finally, Handelsinvest Investeringsforvaltning raised its position in Proofpoint by 19.9% in the fourth quarter. Handelsinvest Investeringsforvaltning now owns 41,248 shares of the software maker’s stock worth $3,457,000 after acquiring an additional 6,848 shares during the period. 94.79% of the stock is currently owned by hedge funds and other institutional investors.
In other Proofpoint news, CEO Gary Steele sold 20,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $122.16, for a total transaction of $2,443,200.00. Following the transaction, the chief executive officer now directly owns 162,209 shares of the company’s stock, valued at approximately $19,815,451.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Paul R. Auvil III sold 30,000 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $122.61, for a total transaction of $3,678,300.00. Following the transaction, the chief financial officer now directly owns 106,208 shares in the company, valued at $13,022,162.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,227 shares of company stock worth $14,448,248. Insiders own 2.93% of the company’s stock.
PFPT has been the topic of several research reports. BidaskClub raised shares of Proofpoint from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. Monness Crespi & Hardt lifted their price objective on shares of Proofpoint from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 1st. Wedbush reaffirmed an “outperform” rating and issued a $115.00 price objective (down previously from $125.00) on shares of Proofpoint in a research report on Friday, February 1st. Citigroup lifted their price objective on shares of Proofpoint to $117.00 and gave the stock a “buy” rating in a research report on Monday, February 4th. Finally, ValuEngine upgraded shares of Proofpoint from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $132.10.
Shares of PFPT opened at $119.03 on Thursday. Proofpoint Inc has a fifty-two week low of $75.92 and a fifty-two week high of $131.43. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market capitalization of $6.46 billion, a PE ratio of -103.50 and a beta of 1.79.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Thursday, April 25th. The software maker reported ($0.33) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.33). Proofpoint had a negative net margin of 15.82% and a negative return on equity of 13.93%. The company had revenue of $202.90 million during the quarter, compared to analyst estimates of $199.32 million. During the same period in the prior year, the business posted $0.30 EPS. The firm’s revenue was up 24.9% compared to the same quarter last year. Equities research analysts expect that Proofpoint Inc will post -0.82 earnings per share for the current year.
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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