Riverhead Capital Management LLC lessened its holdings in Proofpoint Inc (NASDAQ:PFPT) by 83.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 285 shares of the software maker’s stock after selling 1,408 shares during the quarter. Riverhead Capital Management LLC’s holdings in Proofpoint were worth $34,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. World Asset Management Inc boosted its holdings in Proofpoint by 5.7% in the second quarter. World Asset Management Inc now owns 1,804 shares of the software maker’s stock worth $217,000 after purchasing an additional 97 shares during the period. Foundry Partners LLC boosted its holdings in shares of Proofpoint by 3.3% during the second quarter. Foundry Partners LLC now owns 3,055 shares of the software maker’s stock valued at $367,000 after acquiring an additional 98 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Proofpoint by 3.4% during the second quarter. Prudential Financial Inc. now owns 3,020 shares of the software maker’s stock valued at $363,000 after acquiring an additional 100 shares during the period. AdvisorNet Financial Inc boosted its holdings in shares of Proofpoint by 23.9% during the second quarter. AdvisorNet Financial Inc now owns 1,295 shares of the software maker’s stock valued at $156,000 after acquiring an additional 250 shares during the period. Finally, Shine Investment Advisory Services Inc. boosted its holdings in shares of Proofpoint by 82.8% during the second quarter. Shine Investment Advisory Services Inc. now owns 607 shares of the software maker’s stock valued at $73,000 after acquiring an additional 275 shares during the period. 94.16% of the stock is owned by hedge funds and other institutional investors.
PFPT stock traded up $1.45 during trading on Friday, hitting $125.75. The company had a trading volume of 395,456 shares, compared to its average volume of 749,421. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of -109.35 and a beta of 1.67. The business has a 50 day moving average of $119.88 and a 200 day moving average of $119.35. Proofpoint Inc has a fifty-two week low of $75.92 and a fifty-two week high of $132.85. The company has a current ratio of 0.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.07.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings data on Thursday, July 25th. The software maker reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.07). The company had revenue of $214.40 million during the quarter, compared to analyst estimates of $211.33 million. Proofpoint had a negative return on equity of 11.24% and a negative net margin of 14.31%. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 EPS. As a group, equities analysts predict that Proofpoint Inc will post -0.79 EPS for the current year.
In other Proofpoint news, CEO Gary Steele sold 20,000 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $123.79, for a total value of $2,475,800.00. Following the sale, the chief executive officer now directly owns 100,574 shares in the company, valued at $12,450,055.46. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard Scott Herren sold 2,083 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $121.13, for a total transaction of $252,313.79. Following the completion of the sale, the director now owns 12,145 shares in the company, valued at $1,471,123.85. The disclosure for this sale can be found here. Insiders sold 85,470 shares of company stock valued at $10,425,432 in the last ninety days. Corporate insiders own 2.93% of the company’s stock.
Several brokerages have recently issued reports on PFPT. Morgan Stanley boosted their price target on shares of Proofpoint from $142.00 to $148.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Piper Jaffray Companies boosted their price target on shares of Proofpoint from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Northland Securities reissued a “buy” rating and set a $160.00 price target on shares of Proofpoint in a report on Friday, July 26th. Robert W. Baird reissued a “buy” rating and set a $145.00 price target on shares of Proofpoint in a report on Friday. Finally, Stifel Nicolaus boosted their price target on shares of Proofpoint from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Proofpoint presently has a consensus rating of “Buy” and a consensus target price of $139.26.
Proofpoint Company Profile
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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