BlackRock Advisors LLC reduced its stake in shares of Proofpoint Inc. (NASDAQ:PFPT) by 7.7% during the second quarter, Holdings Channel reports. The fund owned 126,152 shares of the company’s stock after selling 10,576 shares during the period. BlackRock Advisors LLC owned approximately 0.30% of Proofpoint worth $7,959,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of PFPT. Geneva Advisors LLC boosted its stake in Proofpoint by 1.5% in the second quarter. Geneva Advisors LLC now owns 8,799 shares of the company’s stock valued at $555,000 after buying an additional 127 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Proofpoint by 3.4% in the second quarter. Principal Financial Group Inc. now owns 5,461 shares of the company’s stock valued at $345,000 after buying an additional 179 shares in the last quarter. Foundry Partners LLC boosted 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 in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Proofpoint by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 5,361 shares of the company’s stock valued at $338,000 after buying an additional 651 shares in the last quarter. Finally, Wedbush Securities Inc. boosted its stake in shares of Proofpoint by 12.0% in the second quarter. Wedbush Securities Inc. now owns 7,138 shares of the company’s stock valued at $450,000 after buying an additional 762 shares in the last quarter.
Proofpoint Inc. (NASDAQ:PFPT) opened at 71.02 on Wednesday. The company’s market capitalization is $2.99 billion. The stock’s 50 day moving average price is $75.97 and its 200-day moving average price is $65.50. Proofpoint Inc. has a one year low of $35.56 and a one year high of $80.68.
Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, July 21st. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.13. Proofpoint had a negative return on equity of 120.27% and a negative net margin of 41.46%. The business earned $89.90 million during the quarter, compared to analysts’ expectations of $84.22 million. Equities analysts forecast that Proofpoint Inc. will post $0.09 EPS for the current year.
Several equities research analysts have recently commented on PFPT shares. Wunderlich assumed coverage on shares of Proofpoint in a research report on Tuesday, September 13th. They set a “buy” rating and a $90.00 price target for the company. DA Davidson assumed coverage on Proofpoint in a research note on Tuesday, October 4th. They set a “neutral” rating and a $80.00 target price on the stock. Zacks Investment Research downgraded Proofpoint from a “buy” rating to a “hold” rating in a research report on Wednesday, September 21st. Morgan Stanley reiterated an “overweight” rating on shares of Proofpoint in a research report on Wednesday, June 29th. Finally, FBR & Co restated an “outperform” rating on shares of Proofpoint in a report on Thursday, August 25th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $79.44.
In other news, EVP Tracey Newell sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $66.93, for a total value of $1,338,600.00. Following the completion of the sale, the executive vice president now directly owns 37,467 shares in the company, valued at $2,507,666.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Eric Hahn sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $72.90, for a total value of $364,500.00. Following the completion of the sale, the chairman now owns 121,215 shares of the company’s stock, valued at $8,836,573.50. The disclosure for this sale can be found here. 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 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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