Bayesian Capital Management LP Invests $562,000 in Proofpoint, Inc. (PFPT) Stock
Bayesian Capital Management LP bought a new position in shares of Proofpoint, Inc. (NASDAQ:PFPT) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,469 shares of the software maker’s stock, valued at approximately $562,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. D.A. Davidson & CO. boosted its position in shares of Proofpoint by 57.9% during the 2nd quarter. D.A. Davidson & CO. now owns 1,175 shares of the software maker’s stock worth $102,000 after acquiring an additional 431 shares in the last quarter. Fortaleza Asset Management Inc. boosted its position in shares of Proofpoint by 22.4% during the 2nd quarter. Fortaleza Asset Management Inc. now owns 1,696 shares of the software maker’s stock worth $147,000 after acquiring an additional 310 shares in the last quarter. Creative Planning boosted its position in shares of Proofpoint by 7.4% during the 2nd quarter. Creative Planning now owns 2,232 shares of the software maker’s stock worth $194,000 after acquiring an additional 154 shares in the last quarter. Legato Capital Management LLC acquired a new position in shares of Proofpoint during the 2nd quarter worth about $204,000. Finally, Bluestein R H & Co. acquired a new position in shares of Proofpoint during the 2nd quarter worth about $217,000.
In other Proofpoint news, EVP David Knight sold 3,000 shares of Proofpoint stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $84.54, for a total value of $253,620.00. Following the completion of the transaction, the executive vice president now directly owns 16,874 shares in the company, valued at $1,426,527.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Eric Hahn sold 5,000 shares of Proofpoint stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $91.09, for a total value of $455,450.00. Following the completion of the transaction, the chairman now owns 58,701 shares of the company’s stock, valued at $5,347,074.09. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 173,549 shares of company stock valued at $15,363,769. 6.80% of the stock is currently owned by insiders.
Proofpoint, Inc. (NASDAQ PFPT) traded down 0.78% during mid-day trading on Friday, reaching $87.22. The company’s stock had a trading volume of 830,601 shares. The firm’s market capitalization is $3.87 billion. Proofpoint, Inc. has a 12 month low of $68.04 and a 12 month high of $97.00. The stock’s 50-day moving average is $89.14 and its 200-day moving average is $84.21.
Proofpoint (NASDAQ:PFPT) last issued its earnings results on Thursday, July 27th. The software maker reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.05. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. The company had revenue of $122.30 million during the quarter, compared to the consensus estimate of $119.58 million. During the same period in the previous year, the firm posted $0.06 earnings per share. Proofpoint’s quarterly revenue was up 36.0% compared to the same quarter last year. On average, equities analysts anticipate that Proofpoint, Inc. will post $0.65 EPS for the current year.
PFPT has been the subject of several analyst reports. FBN Securities reaffirmed an “outperform” rating and set a $105.00 price objective (up from $100.00) on shares of Proofpoint in a research report on Saturday, September 9th. Cowen and Company initiated coverage on Proofpoint in a research report on Thursday, August 17th. They set an “outperform” rating and a $105.00 price objective for the company. Wedbush reaffirmed 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. ValuEngine raised Proofpoint from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 price objective on shares of Proofpoint in a research report on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-two have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $99.08.
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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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