Proofpoint Inc (PFPT) Stake Lessened by Granahan Investment Management Inc. MA
Granahan Investment Management Inc. MA trimmed its holdings in Proofpoint Inc (NASDAQ:PFPT) by 11.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,087 shares of the software maker’s stock after selling 3,507 shares during the quarter. Granahan Investment Management Inc. MA owned about 0.06% of Proofpoint worth $2,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in PFPT. D.A. Davidson & CO. lifted its stake in shares of Proofpoint by 57.9% in the 2nd quarter. D.A. Davidson & CO. now owns 1,175 shares of the software maker’s stock valued at $102,000 after purchasing an additional 431 shares during the period. Fortaleza Asset Management Inc. increased its position in Proofpoint by 22.4% in the 2nd quarter. Fortaleza Asset Management Inc. now owns 1,696 shares of the software maker’s stock valued at $147,000 after buying an additional 310 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Proofpoint in the 2nd quarter valued at about $215,000. Bluestein R H & Co. bought a new stake in Proofpoint in the 2nd quarter valued at about $217,000. Finally, Gotham Asset Management LLC bought a new stake in Proofpoint in the 2nd quarter valued at about $222,000.
In other news, EVP David Knight sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $91.19, for a total value of $273,570.00. Following the transaction, the executive vice president now owns 16,874 shares in the company, valued at approximately $1,538,740.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Tracey Newell sold 8,183 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $94.82, for a total value of $775,912.06. Following the completion of the transaction, the executive vice president now owns 25,001 shares in the company, valued at approximately $2,370,594.82. The disclosure for this sale can be found here. Insiders have sold a total of 211,549 shares of company stock valued at $18,951,300 over the last three months. Corporate insiders own 5.96% of the company’s stock.
A number of analysts recently commented on PFPT shares. Cowen started coverage on Proofpoint in a research report on Thursday, August 17th. They issued an “outperform” rating and a $105.00 target price for the company. BidaskClub raised Proofpoint from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $103.00 target price on shares of Proofpoint in a research report on Thursday, August 31st. ValuEngine raised Proofpoint from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $105.00 target price on shares of Proofpoint in a research report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $102.09.
Shares of Proofpoint Inc (NASDAQ:PFPT) opened at $87.07 on Wednesday. The company has a debt-to-equity ratio of 11.57, a current ratio of 1.51 and a quick ratio of 1.51. Proofpoint Inc has a twelve month low of $69.23 and a twelve month high of $97.92.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, October 19th. The software maker reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.07. The firm had revenue of $134.30 million during the quarter, compared to analyst estimates of $131.48 million. Proofpoint had a negative return on equity of 158.19% and a negative net margin of 20.19%. The company’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 EPS. research analysts predict that Proofpoint Inc will post -0.88 earnings per share for the current fiscal year.
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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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