Proofpoint Inc (PFPT) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in Proofpoint Inc (NASDAQ:PFPT) by 67.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 925,102 shares of the software maker’s stock after acquiring an additional 371,864 shares during the quarter. Bank of New York Mellon Corp’s holdings in Proofpoint were worth $77,534,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Alps Advisors Inc. boosted its stake in Proofpoint by 4.7% during the 4th quarter. Alps Advisors Inc. now owns 4,744 shares of the software maker’s stock valued at $398,000 after purchasing an additional 212 shares during the last quarter. Prudential Financial Inc. boosted its stake in Proofpoint by 10.2% during the 4th quarter. Prudential Financial Inc. now owns 2,920 shares of the software maker’s stock valued at $245,000 after purchasing an additional 270 shares during the last quarter. AdvisorNet Financial Inc boosted its stake in Proofpoint by 88.7% during the 4th quarter. AdvisorNet Financial Inc now owns 1,170 shares of the software maker’s stock valued at $98,000 after purchasing an additional 550 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Proofpoint by 1.0% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 64,399 shares of the software maker’s stock valued at $6,848,000 after purchasing an additional 656 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Proofpoint by 4.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,782 shares of the software maker’s stock valued at $1,323,000 after purchasing an additional 698 shares during the last quarter. 95.99% of the stock is owned by institutional investors and hedge funds.

Proofpoint stock opened at $122.01 on Friday. Proofpoint Inc has a 12 month low of $75.92 and a 12 month high of $130.27. The company has a market capitalization of $6.59 billion, a P/E ratio of -106.10 and a beta of 1.83.

Proofpoint (NASDAQ:PFPT) last issued its earnings results on Thursday, January 31st. The software maker reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.15. Proofpoint had a negative net margin of 14.47% and a negative return on equity of 12.20%. The business had revenue of $198.48 million for the quarter, compared to analysts’ expectations of $192.92 million. As a group, equities analysts expect that Proofpoint Inc will post -1.18 EPS for the current year.

In other Proofpoint news, EVP David Knight sold 1,500 shares of the business’s stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $101.43, for a total transaction of $152,145.00. Following the sale, the executive vice president now owns 11,814 shares of the company’s stock, valued at approximately $1,198,294.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dana L. Evan sold 3,051 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $113.85, for a total transaction of $347,356.35. Following the sale, the director now directly owns 8,783 shares in the company, valued at approximately $999,944.55. The disclosure for this sale can be found here. Insiders have sold a total of 16,782 shares of company stock worth $1,910,979 in the last three months. Insiders own 3.37% of the company’s stock.

A number of brokerages have recently weighed in on PFPT. BidaskClub upgraded Proofpoint from a “hold” rating to a “buy” rating in a research note on Thursday. KeyCorp boosted their target price on Proofpoint from $120.00 to $136.00 and gave the stock an “overweight” rating in a research note on Monday, February 25th. Zacks Investment Research upgraded Proofpoint from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a research note on Monday, February 11th. Guggenheim began coverage on Proofpoint in a research note on Monday, December 10th. They issued a “buy” rating and a $110.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $135.00 target price (up previously from $130.00) on shares of Proofpoint in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $124.26.

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About Proofpoint

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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Want to see what other hedge funds are holding PFPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Proofpoint Inc (NASDAQ:PFPT).

Institutional Ownership by Quarter for Proofpoint (NASDAQ:PFPT)

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