TCW Group Inc. raised its position in shares of Proofpoint, Inc. (NASDAQ:PFPT) by 132.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 151,830 shares of the software maker’s stock after buying an additional 86,510 shares during the period. TCW Group Inc. owned approximately 0.35% of Proofpoint worth $11,290,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System raised its position in Proofpoint by 0.8% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 22,409 shares of the software maker’s stock worth $1,583,000 after buying an additional 180 shares during the period. Wedbush Securities Inc. raised its position in Proofpoint by 4.8% in the first quarter. Wedbush Securities Inc. now owns 5,864 shares of the software maker’s stock worth $436,000 after buying an additional 267 shares during the period. Legal & General Group Plc increased its stake in shares of Proofpoint by 3.1% in the first quarter. Legal & General Group Plc now owns 14,253 shares of the software maker’s stock worth $1,060,000 after buying an additional 435 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Proofpoint by 18.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,897 shares of the software maker’s stock worth $215,000 after buying an additional 446 shares in the last quarter. Finally, Commerce Bank increased its stake in shares of Proofpoint by 13.0% in the first quarter. Commerce Bank now owns 4,000 shares of the software maker’s stock worth $298,000 after buying an additional 460 shares in the last quarter.
Proofpoint, Inc. (PFPT) traded down 1.08% on Tuesday, reaching $87.00. 97,226 shares of the company’s stock were exchanged. The firm’s market capitalization is $3.80 billion. Proofpoint, Inc. has a 1-year low of $57.13 and a 1-year high of $94.33. The stock’s 50 day moving average price is $84.85 and its 200 day moving average price is $79.14.
Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings data on Thursday, April 20th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.03. The company had revenue of $113.30 million for the quarter, compared to analysts’ expectations of $110.60 million. Proofpoint had a negative net margin of 25.63% and a negative return on equity of 126.46%. The business’s revenue was up 43.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.09) EPS. On average, analysts expect that Proofpoint, Inc. will post $0.59 earnings per share for the current year.
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Several analysts recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Proofpoint in a report on Wednesday, June 7th. They issued a “buy” rating and a $90.00 target price for the company. Susquehanna Bancshares Inc assumed coverage on shares of Proofpoint in a report on Wednesday, June 7th. They issued a “positive” rating and a $106.00 target price for the company. ValuEngine upgraded shares of Proofpoint from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. FBN Securities started coverage on shares of Proofpoint in a report on Monday, May 22nd. They issued an “outperform” rating and a $95.00 target price for the company. Finally, Zacks Investment Research downgraded shares of Proofpoint from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $86.95.
In other news, CEO Gary Steele sold 31,300 shares of Proofpoint stock in a transaction that occurred on Friday, April 7th. The shares were sold at an average price of $74.90, for a total value of $2,344,370.00. Following the transaction, the chief executive officer now directly owns 37,671 shares of the company’s stock, valued at $2,821,557.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David Knight sold 3,000 shares of Proofpoint stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $75.38, for a total transaction of $226,140.00. Following the completion of the transaction, the executive vice president now directly owns 12,642 shares in the company, valued at $952,953.96. The disclosure for this sale can be found here. Insiders sold a total of 187,549 shares of company stock worth $15,250,544 in the last ninety days. Corporate insiders own 6.80% of the company’s stock.
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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