Essex Investment Management Co. LLC bought a new stake in shares of Proofpoint Inc. (NASDAQ:PFPT) during the second quarter, Holdings Channel reports. The firm bought 16,808 shares of the company’s stock, valued at approximately $1,060,000.
Several other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Proofpoint by 122.6% in the first quarter. BlackRock Inc. now owns 2,684 shares of the company’s stock valued at $143,000 after buying an additional 1,478 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Proofpoint by 199.9% in the second quarter. BNP Paribas Arbitrage SA now owns 2,417 shares of the company’s stock valued at $152,000 after buying an additional 1,611 shares during the period. Foundry Partners LLC raised its stake in shares of Proofpoint by 12.1% in the second quarter. Foundry Partners LLC now owns 4,400 shares of the company’s stock valued at $278,000 after buying an additional 475 shares during the period. Strs Ohio raised its stake in shares of Proofpoint by 85.2% in the second quarter. Strs Ohio now owns 5,000 shares of the company’s stock valued at $315,000 after buying an additional 2,300 shares during the period. Finally, Gradient Investments LLC bought a new stake in shares of Proofpoint during the second quarter valued at about $364,000.
Proofpoint Inc. (NASDAQ:PFPT) traded down 1.82% during midday trading on Monday, hitting $73.49. 401,884 shares of the stock were exchanged. The stock’s market cap is $3.09 billion. The firm has a 50 day moving average of $76.40 and a 200-day moving average of $64.70. Proofpoint Inc. has a 12-month low of $35.56 and a 12-month high of $80.68.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.13. The firm had revenue of $89.90 million for the quarter, compared to analysts’ expectations of $84.22 million. Proofpoint had a negative net margin of 41.46% and a negative return on equity of 120.27%. On average, equities analysts expect that Proofpoint Inc. will post $0.09 earnings per share for the current year.
Several analysts have recently issued reports on the stock. Needham & Company LLC assumed coverage on shares of Proofpoint in a research report on Monday, August 1st. They issued a “buy” rating and a $88.00 target price on the stock. Wunderlich lifted their target price on shares of Proofpoint from $67.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, June 9th. FBR & Co reiterated an “outperform” rating on shares of Proofpoint in a research report on Thursday, August 25th. Wells Fargo & Co. reiterated a “buy” rating on shares of Proofpoint in a research report on Sunday, September 25th. Finally, Summit Redstone assumed coverage on shares of Proofpoint in a research report on Tuesday, August 16th. They issued a “buy” rating and a $90.00 target price on the stock. Two research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $79.42.
In related news, EVP David Knight sold 3,000 shares of the stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $78.14, for a total value of $234,420.00. Following the sale, the executive vice president now directly owns 8,889 shares of the company’s stock, valued at approximately $694,586.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Dana L. Evan sold 1,500 shares of the stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $74.16, for a total transaction of $111,240.00. Following the completion of the sale, the director now directly owns 8,993 shares in the company, valued at $666,920.88. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by corporate insiders.
Proofpoint Company Profile
Proofpoint, Inc is a security-as-a-service provider that enables large and mid-sized organizations around the world. The Company’s security-as-a-service platform consists of a suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication.
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