Creative Planning Buys 154 Shares of Proofpoint, Inc. (PFPT)
Creative Planning increased its stake in shares of Proofpoint, Inc. (NASDAQ:PFPT) by 7.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,232 shares of the software maker’s stock after buying an additional 154 shares during the period. Creative Planning’s holdings in Proofpoint were worth $194,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new stake in shares of Proofpoint during the fourth quarter valued at $721,000. AQR Capital Management LLC increased its stake in shares of Proofpoint by 25.5% in the fourth quarter. AQR Capital Management LLC now owns 11,923 shares of the software maker’s stock valued at $842,000 after buying an additional 2,426 shares during the last quarter. Norges Bank bought a new stake in shares of Proofpoint during the fourth quarter valued at $9,638,000. Teachers Advisors LLC increased its stake in shares of Proofpoint by 0.6% in the fourth quarter. Teachers Advisors LLC now owns 290,750 shares of the software maker’s stock valued at $20,541,000 after buying an additional 1,802 shares during the last quarter. Finally, Daiwa SB Investments Ltd. increased its stake in shares of Proofpoint by 14.3% in the first quarter. Daiwa SB Investments Ltd. now owns 9,940 shares of the software maker’s stock valued at $739,000 after buying an additional 1,240 shares during the last quarter.
Shares of Proofpoint, Inc. (PFPT) traded down 0.21% during midday trading on Wednesday, reaching $86.70. The company had a trading volume of 98,512 shares. The firm’s 50 day moving average price is $87.58 and its 200-day moving average price is $82.26. Proofpoint, Inc. has a 1-year low of $68.04 and a 1-year high of $94.33. The stock’s market capitalization is $3.85 billion.
Proofpoint (NASDAQ:PFPT) last issued its earnings results on Thursday, July 27th. The software maker reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.05. The business had revenue of $122.30 million during the quarter, compared to analyst estimates of $119.58 million. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. Proofpoint’s revenue was up 36.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 EPS. Equities research analysts expect that Proofpoint, Inc. will post $0.65 EPS for the current fiscal year.
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Several analysts have weighed in on PFPT shares. Imperial Capital reiterated an “outperform” rating and issued a $100.00 price objective on shares of Proofpoint in a research report on Friday, April 14th. DA Davidson upgraded Proofpoint from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $83.00 to $90.00 in a research report on Wednesday, April 19th. Robert W. Baird downgraded Proofpoint from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $92.00 to $77.00 in a research report on Thursday, April 20th. Wedbush boosted their target price on Proofpoint from $90.00 to $93.00 and gave the company an “outperform” rating in a research note on Friday, April 21st. Finally, Piper Jaffray Companies set a $90.00 target price on Proofpoint and gave the company a “buy” rating in a research note on Friday, April 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-two have assigned a buy rating to the company. Proofpoint has an average rating of “Buy” and a consensus target price of $92.78.
In other news, CFO Paul R. Auvil III sold 25,000 shares of Proofpoint stock in a transaction on Monday, May 15th. The stock was sold at an average price of $86.08, for a total value of $2,152,000.00. Following the transaction, the chief financial officer now directly owns 120,478 shares in the company, valued at approximately $10,370,746.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert Darren Lee sold 2,750 shares of Proofpoint stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $87.75, for a total value of $241,312.50. Following the completion of the transaction, the senior vice president now owns 7,619 shares in the company, valued at $668,567.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 186,299 shares of company stock valued at $15,989,869. 6.80% of the stock is currently owned by corporate insiders.
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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