Jennison Associates LLC Sells 42,021 Shares of Proofpoint Inc (NASDAQ:PFPT)

Share on StockTwits

Jennison Associates LLC cut its stake in shares of Proofpoint Inc (NASDAQ:PFPT) by 6.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 598,205 shares of the software maker’s stock after selling 42,021 shares during the quarter. Jennison Associates LLC owned 1.07% of Proofpoint worth $71,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. First Trust Advisors LP lifted its position in Proofpoint by 90.9% during the second quarter. First Trust Advisors LP now owns 539,145 shares of the software maker’s stock valued at $64,832,000 after purchasing an additional 256,737 shares during the last quarter. Coastal Capital Group Inc. bought a new stake in Proofpoint during the second quarter valued at approximately $105,000. Swiss National Bank lifted its position in Proofpoint by 9.8% during the first quarter. Swiss National Bank now owns 99,552 shares of the software maker’s stock valued at $12,089,000 after purchasing an additional 8,900 shares during the last quarter. Washington Capital Management Inc. bought a new stake in Proofpoint during the first quarter valued at approximately $528,000. Finally, Court Place Advisors LLC bought a new stake in Proofpoint during the second quarter valued at approximately $213,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

NASDAQ:PFPT traded down $1.13 during midday trading on Friday, reaching $114.91. 543,760 shares of the stock traded hands, compared to its average volume of 659,338. The company has a fifty day moving average of $122.21 and a 200 day moving average of $119.30. Proofpoint Inc has a 12 month low of $75.92 and a 12 month high of $132.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.66 and a current ratio of 0.67. The stock has a market capitalization of $6.51 billion, a P/E ratio of -99.92 and a beta of 1.66.

Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Thursday, July 25th. The software maker reported ($0.27) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.07). Proofpoint had a negative net margin of 14.31% and a negative return on equity of 11.24%. The firm had revenue of $214.40 million for the quarter, compared to the consensus estimate of $211.33 million. During the same quarter in the prior year, the company earned $0.26 earnings per share. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. On average, analysts predict that Proofpoint Inc will post -0.77 EPS for the current fiscal year.

A number of equities research analysts have recently weighed in on the stock. Piper Jaffray Companies boosted their price objective on shares of Proofpoint from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Wedbush boosted their price objective on shares of Proofpoint from $138.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. JMP Securities boosted their price objective on shares of Proofpoint from $130.00 to $140.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Morgan Stanley boosted their price objective on shares of Proofpoint from $142.00 to $148.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada set a $150.00 price objective on shares of Proofpoint and gave the stock a “buy” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $138.18.

In other Proofpoint news, CEO Gary Steele sold 20,000 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $123.79, for a total transaction of $2,475,800.00. Following the transaction, the chief executive officer now directly owns 100,574 shares of the company’s stock, valued at approximately $12,450,055.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Robert Darren Lee sold 2,615 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $107.83, for a total transaction of $281,975.45. The disclosure for this sale can be found here. Insiders have sold a total of 84,885 shares of company stock valued at $9,963,092 over the last quarter. 2.93% of the stock is currently owned by company insiders.

Proofpoint Company Profile

Proofpoint, Inc operates as a security-as-a-service provider that enables large and mid-sized organizations to defend, protect, archive, and govern their sensitive data worldwide. It offers protection against advanced and targeted threats, including malicious attachments, polymorphic threats, zero-day exploits, user-transparent ‘drive-by' downloads, malicious Web links, hybrid threats, malware free attacks, and other penetration tactics.

Read More: What is the operating income formula?

Institutional Ownership by Quarter for Proofpoint (NASDAQ:PFPT)

Receive News & Ratings for Proofpoint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proofpoint and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Renaissance Technologies LLC Grows Stock Holdings in Ashford Hospitality Trust, Inc.
Renaissance Technologies LLC Grows Stock Holdings in Ashford Hospitality Trust, Inc.
Renaissance Technologies LLC Buys 336,968 Shares of Koninklijke Philips NV
Renaissance Technologies LLC Buys 336,968 Shares of Koninklijke Philips NV
Renaissance Technologies LLC Sells 640,900 Shares of Olin Co.
Renaissance Technologies LLC Sells 640,900 Shares of Olin Co.
Renaissance Technologies LLC Increases Stock Holdings in Central Pacific Financial Corp.
Renaissance Technologies LLC Increases Stock Holdings in Central Pacific Financial Corp.
Renaissance Technologies LLC Sells 63,222 Shares of Solaredge Technologies Inc
Renaissance Technologies LLC Sells 63,222 Shares of Solaredge Technologies Inc
Renaissance Technologies LLC Sells 120,900 Shares of American States Water Co
Renaissance Technologies LLC Sells 120,900 Shares of American States Water Co


© 2006-2019 Ticker Report