Jennison Associates LLC Purchases 732 Shares of Proofpoint, Inc. (PFPT)
Jennison Associates LLC lifted its position in shares of Proofpoint, Inc. (NASDAQ:PFPT) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 348,529 shares of the software maker’s stock after purchasing an additional 732 shares during the period. Jennison Associates LLC owned about 0.78% of Proofpoint worth $30,399,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of PFPT. Federated Investors Inc. PA increased its stake in shares of Proofpoint by 63.8% in the second quarter. Federated Investors Inc. PA now owns 85,435 shares of the software maker’s stock worth $7,419,000 after buying an additional 33,290 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Proofpoint by 20.4% in the second quarter. Artisan Partners Limited Partnership now owns 2,786,122 shares of the software maker’s stock worth $241,919,000 after buying an additional 472,407 shares during the last quarter. Brighton Jones LLC bought a new stake in shares of Proofpoint in the second quarter worth $285,000. California Public Employees Retirement System increased its stake in shares of Proofpoint by 4.2% in the second quarter. California Public Employees Retirement System now owns 87,100 shares of the software maker’s stock worth $7,563,000 after buying an additional 3,500 shares during the last quarter. Finally, ETF Managers Group LLC bought a new stake in shares of Proofpoint in the second quarter worth $43,157,000.
Shares of Proofpoint, Inc. (NASDAQ:PFPT) opened at $89.63 on Thursday. Proofpoint, Inc. has a 1-year low of $69.19 and a 1-year high of $97.92. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 11.57.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, October 19th. The software maker reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.07. Proofpoint had a negative net margin of 20.19% and a negative return on equity of 158.19%. The company had revenue of $134.30 million during the quarter, compared to the consensus estimate of $131.48 million. During the same period in the prior year, the company earned $0.19 EPS. Proofpoint’s revenue was up 34.6% on a year-over-year basis. research analysts forecast that Proofpoint, Inc. will post -0.88 EPS for the current fiscal year.
In other Proofpoint news, EVP Tracey Newell sold 8,183 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $90.30, for a total transaction of $738,924.90. Following the sale, the executive vice president now owns 20,170 shares in the company, valued at approximately $1,821,351. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP David Knight sold 3,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $90.76, for a total value of $272,280.00. Following the sale, the executive vice president now owns 16,874 shares in the company, valued at approximately $1,531,484.24. The disclosure for this sale can be found here. Insiders sold a total of 163,366 shares of company stock valued at $14,768,377 over the last three months. 6.80% of the stock is owned by corporate insiders.
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A number of analysts recently issued reports on the stock. Robert W. Baird restated a “hold” rating and issued a $100.00 price target on shares of Proofpoint in a research note on Tuesday, November 7th. Oppenheimer Holdings, Inc. assumed coverage on shares of Proofpoint in a research note on Wednesday, November 1st. They issued a “market perform” rating for the company. UBS AG assumed coverage on shares of Proofpoint in a research note on Tuesday, October 31st. They issued a “market perform” rating for the company. Imperial Capital lifted their price target on shares of Proofpoint from $102.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, October 20th. Finally, Piper Jaffray Companies set a $105.00 price target on shares of Proofpoint and gave the stock a “buy” rating in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the stock. Proofpoint has a consensus rating of “Buy” and an average price target of $101.70.
Proofpoint Company Profile
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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