Proofpoint Inc (NASDAQ:PFPT) Position Lifted by Swiss National Bank

Swiss National Bank raised its stake in Proofpoint Inc (NASDAQ:PFPT) by 9.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 99,552 shares of the software maker’s stock after acquiring an additional 8,900 shares during the period. Swiss National Bank’s holdings in Proofpoint were worth $12,089,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc grew its position in shares of Proofpoint by 3.2% during the 3rd quarter. Vanguard Group Inc now owns 4,460,432 shares of the software maker’s stock worth $474,277,000 after buying an additional 137,876 shares during the period. BlackRock Inc. raised its stake in shares of Proofpoint by 2.4% in the first quarter. BlackRock Inc. now owns 2,445,564 shares of the software maker’s stock worth $296,965,000 after buying an additional 56,860 shares during the period. FMR LLC raised its stake in shares of Proofpoint by 9.5% in the fourth quarter. FMR LLC now owns 1,661,727 shares of the software maker’s stock worth $139,269,000 after buying an additional 144,796 shares during the period. JPMorgan Chase & Co. grew its position in shares of Proofpoint by 5.7% during the first quarter. JPMorgan Chase & Co. now owns 1,561,751 shares of the software maker’s stock worth $189,643,000 after purchasing an additional 84,383 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Proofpoint by 14.9% during the first quarter. Wells Fargo & Company MN now owns 1,430,731 shares of the software maker’s stock worth $173,733,000 after purchasing an additional 185,889 shares in the last quarter. 95.50% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Proofpoint stock traded up $0.67 during trading on Wednesday, reaching $109.90. The company had a trading volume of 2,584 shares, compared to its average volume of 580,329. The firm has a market cap of $6.12 billion, a PE ratio of -94.75 and a beta of 1.75. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.79 and a current ratio of 0.79. Proofpoint Inc has a fifty-two week low of $75.92 and a fifty-two week high of $131.43.

Proofpoint (NASDAQ:PFPT) last posted its earnings results on Thursday, April 25th. The software maker reported ($0.33) EPS for the quarter, hitting the consensus estimate of ($0.33). The firm had revenue of $202.90 million during the quarter, compared to analysts’ expectations of $199.32 million. Proofpoint had a negative net margin of 15.82% and a negative return on equity of 13.93%. Proofpoint’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 EPS. On average, equities analysts predict that Proofpoint Inc will post -0.82 earnings per share for the current year.

Several equities analysts have weighed in on PFPT shares. Morgan Stanley set a $142.00 price target on Proofpoint and gave the company a “buy” rating in a report on Friday, April 26th. Deutsche Bank raised their price target on Proofpoint from $95.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. Wells Fargo & Co raised their price target on Proofpoint from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Dougherty & Co reaffirmed a “buy” rating and set a $140.00 target price (up from $115.00) on shares of Proofpoint in a research report on Friday, April 26th. Finally, KeyCorp lifted their target price on Proofpoint from $120.00 to $136.00 and gave the company an “overweight” rating in a research report on Monday, February 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $131.30.

In related news, Director Richard Scott Herren sold 844 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $112.77, for a total value of $95,177.88. Following the completion of the sale, the director now owns 12,384 shares in the company, valued at approximately $1,396,543.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Robert Darren Lee sold 2,615 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $107.83, for a total transaction of $281,975.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 171,135 shares of company stock valued at $20,660,120. Company insiders own 2.93% of the company’s stock.

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Proofpoint Company 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.

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Institutional Ownership by Quarter for Proofpoint (NASDAQ:PFPT)

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