BlackRock Inc. cut its holdings in shares of Proofpoint Inc (NASDAQ:PFPT) by 6.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,261,188 shares of the software maker’s stock after selling 225,842 shares during the quarter. BlackRock Inc. owned approximately 7.58% of Proofpoint worth $289,625,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in PFPT. Exane Derivatives increased its holdings in Proofpoint by 901.8% in the 4th quarter. Exane Derivatives now owns 1,713 shares of the software maker’s stock worth $152,000 after acquiring an additional 1,542 shares during the last quarter. Sigma Planning Corp purchased a new stake in Proofpoint in the 4th quarter worth about $238,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Proofpoint in the 2nd quarter worth about $253,000. GSA Capital Partners LLP purchased a new stake in Proofpoint in the 3rd quarter worth about $317,000. Finally, Aperio Group LLC increased its holdings in Proofpoint by 24.2% in the 3rd quarter. Aperio Group LLC now owns 4,461 shares of the software maker’s stock worth $389,000 after acquiring an additional 870 shares during the last quarter.
Shares of PFPT traded down $1.19 during trading hours on Monday, reaching $112.46. 533,531 shares of the company’s stock traded hands, compared to its average volume of 633,097. The company has a market cap of $5,744.59, a PE ratio of -85.85 and a beta of 1.18. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. Proofpoint Inc has a 12 month low of $70.30 and a 12 month high of $123.87.
Proofpoint (NASDAQ:PFPT) last released its earnings results on Tuesday, February 6th. The software maker reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.08. The company had revenue of $145.40 million during the quarter, compared to the consensus estimate of $139.61 million. Proofpoint had a negative return on equity of 54.09% and a negative net margin of 16.37%. Proofpoint’s quarterly revenue was up 36.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. analysts predict that Proofpoint Inc will post -1.01 earnings per share for the current year.
PFPT has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Proofpoint from a “buy” rating to a “hold” rating in a report on Thursday, December 28th. Wedbush reaffirmed an “outperform” rating and set a $108.00 target price on shares of Proofpoint in a report on Wednesday, January 3rd. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $120.00 target price (up previously from $115.00) on shares of Proofpoint in a report on Friday, March 2nd. BidaskClub raised Proofpoint from a “buy” rating to a “strong-buy” rating in a report on Friday, January 26th. Finally, Robert W. Baird lifted their target price on Proofpoint from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Six analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $113.04.
In related news, Chairman Eric Hahn sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $118.91, for a total value of $594,550.00. Following the completion of the sale, the chairman now owns 23,001 shares in the company, valued at approximately $2,735,048.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert Darren Lee sold 18,139 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold a total of 136,120 shares of company stock valued at $13,359,684 in the last 90 days. 5.96% of the stock is currently owned by corporate insiders.
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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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