California Public Employees Retirement System lifted its stake in shares of Proofpoint, Inc. (NASDAQ:PFPT) by 4.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 87,100 shares of the software maker’s stock after buying an additional 3,500 shares during the quarter. California Public Employees Retirement System owned approximately 0.20% of Proofpoint worth $7,563,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. FMR LLC grew its position in shares of Proofpoint by 10.9% during the second quarter. FMR LLC now owns 961,745 shares of the software maker’s stock worth $83,508,000 after buying an additional 94,545 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Proofpoint by 2.3% during the second quarter. Vanguard Group Inc. now owns 3,392,578 shares of the software maker’s stock worth $294,577,000 after buying an additional 77,721 shares in the last quarter. Northern Trust Corp grew its position in shares of Proofpoint by 3.8% during the second quarter. Northern Trust Corp now owns 563,915 shares of the software maker’s stock worth $48,964,000 after buying an additional 20,693 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of Proofpoint by 57.9% during the second quarter. D.A. Davidson & CO. now owns 1,175 shares of the software maker’s stock worth $102,000 after buying an additional 431 shares in the last quarter. Finally, Quantitative Investment Management LLC acquired a new position in shares of Proofpoint during the second quarter worth about $9,612,000.

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Shares of Proofpoint, Inc. (NASDAQ:PFPT) opened at 93.10 on Thursday. Proofpoint, Inc. has a 52 week low of $68.45 and a 52 week high of $97.00. The stock’s market cap is $4.14 billion. The firm has a 50-day moving average price of $90.64 and a 200-day moving average price of $85.54.

Proofpoint (NASDAQ:PFPT) last issued its earnings results on Thursday, July 27th. The software maker reported $0.17 EPS for the quarter, topping the consensus estimate of $0.12 by $0.05. The company 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%. The business’s revenue was up 36.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 EPS. On average, analysts forecast that Proofpoint, Inc. will post $0.65 earnings per share for the current fiscal year.

In other news, EVP David Knight sold 3,000 shares of Proofpoint stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $90.76, for a total value of $272,280.00. Following the completion of the transaction, the executive vice president now owns 16,874 shares in the company, valued at approximately $1,531,484.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Tracey Newell sold 8,183 shares of Proofpoint stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $88.59, for a total value of $724,931.97. Following the completion of the transaction, the executive vice president now owns 25,762 shares of the company’s stock, valued at approximately $2,282,255.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,549 shares of company stock valued at $15,179,369. Insiders own 6.80% of the company’s stock.

A number of equities analysts have recently commented on PFPT shares. Stifel Nicolaus reissued a “buy” rating on shares of Proofpoint in a research report on Friday, June 23rd. Northland Securities reissued a “buy” rating and set a $100.00 price objective on shares of Proofpoint in a research report on Friday, June 30th. Wedbush reissued an “outperform” rating and set a $93.00 price objective (down from $98.00) on shares of Proofpoint in a research report on Friday, July 14th. Morgan Stanley reissued an “overweight” rating and set a $102.00 price objective (up from $97.00) on shares of Proofpoint in a research report on Thursday, July 20th. Finally, Needham & Company LLC initiated coverage on Proofpoint in a research report on Friday, July 21st. They set a “buy” rating and a $115.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-two have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $99.08.

About Proofpoint

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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Institutional Ownership by Quarter for Proofpoint (NASDAQ:PFPT)

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