SWS Partners increased its holdings in Proofpoint Inc (NASDAQ:PFPT) by 1,581.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,174 shares of the software maker’s stock after acquiring an additional 27,439 shares during the quarter. Proofpoint comprises approximately 1.3% of SWS Partners’ portfolio, making the stock its 12th biggest position. SWS Partners owned 0.05% of Proofpoint worth $3,586,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in PFPT. Rational Advisors LLC bought a new position in Proofpoint in the third quarter worth $848,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Proofpoint during the third quarter valued at $2,013,000. BBVA USA Bancshares Inc. purchased a new position in Proofpoint in the third quarter worth about $889,000. GW&K Investment Management LLC boosted its position in Proofpoint by 8.3% in the third quarter. GW&K Investment Management LLC now owns 241,120 shares of the software maker’s stock worth $31,117,000 after purchasing an additional 18,538 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in Proofpoint in the third quarter worth about $1,810,000. 98.12% of the stock is owned by institutional investors.
In other news, CEO Gary Steele sold 20,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $124.80, for a total value of $2,496,000.00. Following the transaction, the chief executive officer now directly owns 95,148 shares of the company’s stock, valued at $11,874,470.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Blake P. Salle sold 10,479 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $119.97, for a total value of $1,257,165.63. Following the completion of the sale, the executive vice president now owns 843 shares in the company, valued at approximately $101,134.71. The disclosure for this sale can be found here. Insiders sold 79,179 shares of company stock worth $9,824,113 over the last three months. Corporate insiders own 2.93% of the company’s stock.
Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, October 24th. The software maker reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.10. The company had revenue of $227.40 million for the quarter, compared to analyst estimates of $224.32 million. Proofpoint had a negative return on equity of 10.85% and a negative net margin of 14.56%. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 EPS. Analysts forecast that Proofpoint Inc will post -0.62 earnings per share for the current year.
A number of research firms have recently weighed in on PFPT. Robert W. Baird reaffirmed a “buy” rating and set a $145.00 price objective on shares of Proofpoint in a research report on Monday, November 4th. Evercore ISI reaffirmed a “buy” rating and set a $150.00 price objective on shares of Proofpoint in a research report on Wednesday, October 23rd. Cowen set a $135.00 price objective on Proofpoint and gave the company a “buy” rating in a research report on Friday, October 25th. Wedbush reaffirmed an “outperform” rating and set a $140.00 price objective on shares of Proofpoint in a research report on Friday, October 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 price objective on shares of Proofpoint in a research report on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $141.61.
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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