Stephens Investment Management Group LLC raised its stake in Proofpoint Inc (NASDAQ:PFPT) by 2.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 625,067 shares of the software maker’s stock after acquiring an additional 13,203 shares during the quarter. Proofpoint makes up approximately 1.4% of Stephens Investment Management Group LLC’s investment portfolio, making the stock its 8th largest position. Stephens Investment Management Group LLC’s holdings in Proofpoint were worth $75,164,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Proofpoint by 2.4% in the first quarter. BlackRock Inc. now owns 2,445,564 shares of the software maker’s stock worth $296,965,000 after acquiring an additional 56,860 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Proofpoint by 5.7% in the first quarter. JPMorgan Chase & Co. now owns 1,561,751 shares of the software maker’s stock worth $189,643,000 after acquiring an additional 84,383 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Proofpoint by 14.9% in the first 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 during the last quarter. Wasatch Advisors Inc. lifted its holdings in shares of Proofpoint by 6.7% in the first quarter. Wasatch Advisors Inc. now owns 1,225,595 shares of the software maker’s stock worth $148,824,000 after acquiring an additional 77,116 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its holdings in Proofpoint by 47.0% in the 1st quarter. Pictet Asset Management Ltd. now owns 792,500 shares of the software maker’s stock valued at $96,233,000 after buying an additional 253,500 shares during the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on PFPT shares. JMP Securities raised their price objective on shares of Proofpoint from $130.00 to $140.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Stifel Nicolaus raised their price objective on shares of Proofpoint from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Wedbush raised their price objective on shares of Proofpoint from $138.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, July 26th. KeyCorp raised their price objective on shares of Proofpoint from $136.00 to $154.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Finally, Zacks Investment Research upgraded shares of Proofpoint from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Thursday, June 20th. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $138.18.
NASDAQ:PFPT traded down $0.70 on Thursday, reaching $114.32. 6,299 shares of the stock traded hands, compared to its average volume of 505,687. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of -99.33 and a beta of 1.66. The firm has a 50 day moving average of $122.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.67 and a quick ratio of 0.66. Proofpoint Inc has a 1-year low of $75.92 and a 1-year high of $132.85.
Proofpoint (NASDAQ:PFPT) last released its earnings results 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 for 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 business’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 EPS. On average, sell-side analysts predict that Proofpoint Inc will post -0.77 earnings per share for the current fiscal year.
In other Proofpoint news, EVP Bhagwat Swaroop sold 987 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $117.03, for a total transaction of $115,508.61. Following the completion of the sale, the executive vice president now owns 553 shares of the company’s stock, valued at approximately $64,717.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert Darren Lee sold 2,615 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $107.83, for a total transaction of $281,975.45. The disclosure for this sale can be found here. Insiders have sold a total of 63,872 shares of company stock valued at $7,511,021 in the last three months. Insiders own 2.93% of the company’s stock.
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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