Raymond James Financial Services Advisors Inc. Invests $253,000 in Proofpoint, Inc. (PFPT)
Raymond James Financial Services Advisors Inc. bought a new stake in Proofpoint, Inc. (NASDAQ:PFPT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,914 shares of the software maker’s stock, valued at approximately $253,000.
Several other institutional investors and hedge funds have also modified their holdings of PFPT. PNC Financial Services Group Inc. grew its stake in shares of Proofpoint by 48.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,702 shares of the software maker’s stock valued at $275,000 after buying an additional 1,202 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Proofpoint by 3.1% in the 1st quarter. Legal & General Group Plc now owns 14,253 shares of the software maker’s stock valued at $1,060,000 after buying an additional 435 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Proofpoint by 291.2% in the 1st quarter. Renaissance Technologies LLC now owns 39,900 shares of the software maker’s stock valued at $2,967,000 after buying an additional 29,700 shares in the last quarter. BlackRock Inc. grew its stake in shares of Proofpoint by 22,439.7% in the 1st quarter. BlackRock Inc. now owns 3,193,429 shares of the software maker’s stock valued at $237,464,000 after buying an additional 3,179,261 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in Proofpoint by 31.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 213,012 shares of the software maker’s stock worth $15,840,000 after purchasing an additional 51,406 shares during the period.
Proofpoint, Inc. (NASDAQ:PFPT) opened at $90.26 on Friday. 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, Inc. has a 12 month low of $69.19 and a 12 month high of $97.92.
Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, October 19th. The software maker reported $0.25 EPS for the quarter, topping the consensus estimate of $0.18 by $0.07. The company had revenue of $134.30 million for the quarter, compared to analysts’ expectations of $131.48 million. Proofpoint had a negative return on equity of 158.19% and a negative net margin of 20.19%. The business’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.19 earnings per share. analysts predict that Proofpoint, Inc. will post -0.88 earnings per share for the current fiscal year.
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A number of equities research analysts have issued reports on PFPT shares. FBN Securities reaffirmed an “outperform” rating and set a $105.00 target price (up previously from $100.00) on shares of Proofpoint in a research report on Saturday, September 9th. Robert W. Baird reaffirmed a “hold” rating and set a $100.00 target price on shares of Proofpoint in a research report on Tuesday. Cowen and Company started coverage on Proofpoint in a research report on Thursday, August 17th. They set an “outperform” rating and a $105.00 target price for the company. Wedbush reaffirmed an “outperform” rating and set a $93.00 target price (down previously from $98.00) on shares of Proofpoint in a research report on Friday, July 14th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $114.00 target price (up previously from $100.00) on shares of Proofpoint in a research report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $101.70.
In other news, EVP David Knight sold 3,000 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $90.76, for a total transaction of $272,280.00. Following the sale, the executive vice president now owns 16,874 shares in the company, valued at $1,531,484.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tracey Newell sold 8,183 shares of the stock in a transaction 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 sale, the executive vice president now owns 25,762 shares in the company, valued at approximately $2,282,255.58. The disclosure for this sale can be found here. Insiders have sold 168,549 shares of company stock worth $15,226,339 in the last 90 days. Company insiders own 6.80% of the company’s stock.
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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