Axa Acquires 261,787 Shares of Proofpoint Inc (NASDAQ:PFPT)

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Axa increased its holdings in shares of Proofpoint Inc (NASDAQ:PFPT) by 56.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 722,303 shares of the software maker’s stock after acquiring an additional 261,787 shares during the period. Axa owned about 1.26% of Proofpoint worth $74,101,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Invesco Ltd. boosted its position in Proofpoint by 609.8% in the 1st quarter. Invesco Ltd. now owns 188,666 shares of the software maker’s stock valued at $19,355,000 after buying an additional 162,086 shares during the last quarter. Morgan Stanley boosted its position in Proofpoint by 5.8% in the 1st quarter. Morgan Stanley now owns 381,952 shares of the software maker’s stock valued at $39,183,000 after buying an additional 20,932 shares during the last quarter. Spyglass Capital Management LLC boosted its position in Proofpoint by 10.4% in the 1st quarter. Spyglass Capital Management LLC now owns 397,736 shares of the software maker’s stock valued at $40,804,000 after buying an additional 37,610 shares during the last quarter. Sunbelt Securities Inc. boosted its position in Proofpoint by 22,117.6% in the 1st quarter. Sunbelt Securities Inc. now owns 3,777 shares of the software maker’s stock valued at $440,000 after buying an additional 3,760 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its position in Proofpoint by 54.1% in the 1st quarter. ArrowMark Colorado Holdings LLC now owns 633,574 shares of the software maker’s stock valued at $64,998,000 after buying an additional 222,407 shares during the last quarter. Institutional investors and hedge funds own 94.63% of the company’s stock.

In other Proofpoint news, EVP Robert Darren Lee sold 1,728 shares of Proofpoint stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $115.00, for a total value of $198,720.00. Following the sale, the executive vice president now owns 7,555 shares of the company’s stock, valued at approximately $868,825. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dana L. Evan sold 2,536 shares of Proofpoint stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $114.09, for a total value of $289,332.24. Following the completion of the sale, the director now directly owns 8,091 shares in the company, valued at approximately $923,102.19. The disclosure for this sale can be found here. Insiders sold a total of 50,991 shares of company stock worth $5,701,662 in the last three months. Company insiders own 2.38% of the company’s stock.

A number of research analysts have commented on the company. Robert W. Baird reiterated a “buy” rating and issued a $135.00 price objective on shares of Proofpoint in a research report on Friday, May 8th. Cowen reduced their price target on Proofpoint from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 21st. Morgan Stanley raised their price target on Proofpoint from $108.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 13th. Zacks Investment Research upgraded Proofpoint from a “sell” rating to a “hold” rating and set a $123.00 price target on the stock in a research report on Monday, April 13th. Finally, BTIG Research restated a “buy” rating and issued a $151.00 price target on shares of Proofpoint in a research report on Friday, June 19th. Nine equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $140.73.

Shares of Proofpoint stock opened at $111.12 on Wednesday. The company has a market capitalization of $6.20 billion, a PE ratio of -35.62 and a beta of 1.36. Proofpoint Inc has a 12 month low of $83.81 and a 12 month high of $133.58. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.43. The stock’s fifty day simple moving average is $112.20 and its 200 day simple moving average is $115.33.

Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, May 7th. The software maker reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.11. Proofpoint had a negative return on equity of 10.15% and a negative net margin of 18.85%. The business had revenue of $249.77 million for the quarter, compared to the consensus estimate of $245.52 million. During the same quarter last year, the business posted $0.34 EPS. The firm’s revenue was up 23.1% compared to the same quarter last year. Analysts predict that Proofpoint Inc will post -1.04 EPS for the current fiscal year.

Proofpoint 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.

Further Reading: What is a Reverse Stock Split?

Institutional Ownership by Quarter for Proofpoint (NASDAQ:PFPT)

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