Schwab Charles Investment Management Inc. grew its stake in Proofpoint, Inc. (NASDAQ:PFPT) by 5.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,035 shares of the software maker’s stock after purchasing an additional 11,023 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.51% of Proofpoint worth $19,453,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its holdings in shares of Proofpoint by 400.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 2,500 shares of the software maker’s stock valued at $185,000 after purchasing an additional 2,000 shares during the period. Creative Planning increased its holdings in shares of Proofpoint by 7.4% in the second quarter. Creative Planning now owns 2,232 shares of the software maker’s stock valued at $194,000 after purchasing an additional 154 shares during the period. Legato Capital Management LLC acquired a new position in shares of Proofpoint in the second quarter valued at approximately $204,000. Envestnet Asset Management Inc. increased its holdings in shares of Proofpoint by 18.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,897 shares of the software maker’s stock valued at $215,000 after purchasing an additional 446 shares during the period. Finally, Karp Capital Management Corp acquired a new position in shares of Proofpoint in the first quarter valued at approximately $223,000.
In related news, EVP Bhagwat Swaroop sold 5,000 shares of Proofpoint stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $85.17, for a total value of $425,850.00. Following the transaction, the executive vice president now directly owns 13,161 shares in the company, valued at approximately $1,120,922.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Knight sold 3,000 shares of Proofpoint stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $84.54, for a total value of $253,620.00. Following the completion of the transaction, the executive vice president now owns 16,874 shares in the company, valued at $1,426,527.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 170,549 shares of company stock worth $15,090,199. 6.80% of the stock is owned by insiders.
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Shares of Proofpoint, Inc. (NASDAQ:PFPT) opened at 92.19 on Thursday. The stock’s market capitalization is $4.10 billion. Proofpoint, Inc. has a 52-week low of $68.04 and a 52-week high of $97.00. The firm’s 50-day moving average price is $89.14 and its 200-day moving average price is $84.21.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, July 27th. The software maker reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.05. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. The company had revenue of $122.30 million for the quarter, compared to analysts’ expectations of $119.58 million. During the same period last year, the firm earned $0.06 EPS. The firm’s revenue for the quarter was up 36.0% on a year-over-year basis. Equities analysts forecast that Proofpoint, Inc. will post $0.65 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on PFPT shares. ValuEngine raised Proofpoint from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Susquehanna Bancshares Inc initiated coverage on Proofpoint in a report on Wednesday, June 7th. They issued a “positive” rating and a $106.00 target price on the stock. Stifel Nicolaus initiated coverage on Proofpoint in a report on Wednesday, June 7th. They set a “buy” rating and a $90.00 price objective on the stock. Northland Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Proofpoint in a report on Friday, June 30th. Finally, Wedbush reaffirmed an “outperform” rating and set a $93.00 price objective (down previously from $98.00) on shares of Proofpoint in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-one have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $98.91.
Proofpoint, Inc is a security-as-a-service provider that enables large and mid-sized organizations to defend, protect, archive and govern their sensitive data. The Company’s security-as-a-service platform consists of an integrated suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication.
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