Grandview Asset Management LLC acquired a new stake in Proofpoint Inc (NASDAQ:PFPT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,268 shares of the software maker’s stock, valued at approximately $274,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in PFPT. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Proofpoint in the fourth quarter valued at $75,000. Mondrian Capital Management LLC purchased a new position in Proofpoint in the fourth quarter valued at $84,000. HRT Financial LLC purchased a new position in shares of Proofpoint during the third quarter worth about $221,000. Cerebellum GP LLC grew its holdings in shares of Proofpoint by 94.7% during the fourth quarter. Cerebellum GP LLC now owns 3,014 shares of the software maker’s stock worth $253,000 after purchasing an additional 1,466 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Proofpoint during the third quarter worth about $256,000. Institutional investors and hedge funds own 97.86% of the company’s stock.
Shares of PFPT opened at $117.59 on Monday. Proofpoint Inc has a fifty-two week low of $75.92 and a fifty-two week high of $130.27. The stock has a market cap of $6.43 billion, a PE ratio of -102.25 and a beta of 1.76.
Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, January 31st. The software maker reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.15. Proofpoint had a negative net margin of 14.47% and a negative return on equity of 13.40%. The business had revenue of $198.48 million during the quarter, compared to the consensus estimate of $192.92 million. Research analysts expect that Proofpoint Inc will post -1.18 EPS for the current fiscal year.
Several brokerages have issued reports on PFPT. BidaskClub raised Proofpoint from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 5th. Citigroup raised their price objective on Proofpoint to $117.00 and gave the stock a “buy” rating in a report on Monday, February 4th. Morgan Stanley set a $120.00 price objective on Proofpoint and gave the stock a “buy” rating in a report on Saturday, February 2nd. ValuEngine raised Proofpoint from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 2nd. Finally, Monness Crespi & Hardt raised their price objective on Proofpoint from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $121.65.
In other news, EVP David Knight sold 1,500 shares of the stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $101.43, for a total transaction of $152,145.00. Following the completion of the sale, the executive vice president now owns 11,814 shares in the company, valued at $1,198,294.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gary Steele sold 50,000 shares of the stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $95.31, for a total transaction of $4,765,500.00. The disclosure for this sale can be found here. Insiders have sold 112,731 shares of company stock valued at $10,961,032 in the last quarter. Insiders own 3.37% of the company’s stock.
Proofpoint Company Profile
Proofpoint, Inc operates as a security-as-a-service (SaaS) 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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