Landsberg Bennett & Dubbaneh LLC Reduces Stock Position in Proofpoint Inc (NASDAQ:PFPT)

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Landsberg Bennett & Dubbaneh LLC reduced its holdings in shares of Proofpoint Inc (NASDAQ:PFPT) by 5.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,901 shares of the software maker’s stock after selling 272 shares during the quarter. Landsberg Bennett & Dubbaneh LLC’s holdings in Proofpoint were worth $608,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Polianta Ltd increased its holdings in shares of Proofpoint by 1.1% in the 3rd quarter. Polianta Ltd now owns 9,500 shares of the software maker’s stock worth $1,225,000 after buying an additional 100 shares during the last quarter. M&R Capital Management Inc. bought a new position in shares of Proofpoint in the 3rd quarter worth $141,000. River & Mercantile Asset Management LLP bought a new position in shares of Proofpoint in the 2nd quarter worth $4,051,000. Treasurer of the State of North Carolina increased its holdings in shares of Proofpoint by 9.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 22,887 shares of the software maker’s stock worth $2,752,000 after buying an additional 2,025 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Proofpoint by 9.8% in the 2nd quarter. BlackRock Inc. now owns 2,685,991 shares of the software maker’s stock worth $322,991,000 after buying an additional 240,427 shares during the last quarter. Institutional investors own 94.16% of the company’s stock.

A number of equities analysts have recently commented on PFPT shares. Piper Jaffray Companies increased their price target on shares of Proofpoint from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Needham & Company LLC upped their price objective on shares of Proofpoint from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Morgan Stanley upped their price objective on shares of Proofpoint from $142.00 to $148.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Wedbush upped their price objective on shares of Proofpoint from $138.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, JMP Securities upped their price objective on shares of Proofpoint from $130.00 to $140.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Four analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $139.08.

Shares of PFPT opened at $130.14 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.67 and a quick ratio of 0.66. The firm has a fifty day simple moving average of $123.28 and a two-hundred day simple moving average of $120.45. Proofpoint Inc has a twelve month low of $75.92 and a twelve month high of $133.00.

Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings results on Thursday, July 25th. The software maker reported ($0.27) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.07). The firm had revenue of $214.40 million for the quarter, compared to analysts’ expectations of $211.33 million. Proofpoint had a negative net margin of 14.31% and a negative return on equity of 11.24%. The company’s quarterly revenue was up 24.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 EPS. On average, equities research analysts predict that Proofpoint Inc will post -0.8 EPS for the current year.

In other Proofpoint news, EVP Bhagwat Swaroop sold 987 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $117.03, for a total transaction of $115,508.61. Following the completion of the sale, the executive vice president now owns 553 shares of the company’s stock, valued at approximately $64,717.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gary Steele sold 20,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $116.74, for a total transaction of $2,334,800.00. Following the sale, the chief executive officer now directly owns 95,148 shares of the company’s stock, valued at approximately $11,107,577.52. The disclosure for this sale can be found here. Insiders have sold a total of 51,544 shares of company stock valued at $6,246,307 in the last three months. 2.93% of the stock is currently owned by corporate 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.

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Institutional Ownership by Quarter for Proofpoint (NASDAQ:PFPT)

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