Hsbc Holdings PLC Trims Stock Position in Proofpoint, Inc. (NASDAQ:PFPT)

Hsbc Holdings PLC decreased its position in shares of Proofpoint, Inc. (NASDAQ:PFPT) by 16.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,410 shares of the software maker’s stock after selling 1,081 shares during the quarter. Hsbc Holdings PLC’s holdings in Proofpoint were worth $736,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of PFPT. Heritage Trust Co lifted its holdings in shares of Proofpoint by 1.5% in the 4th quarter. Heritage Trust Co now owns 5,570 shares of the software maker’s stock valued at $760,000 after purchasing an additional 85 shares during the last quarter. Cahill Financial Advisors Inc. increased its position in Proofpoint by 4.2% during the third quarter. Cahill Financial Advisors Inc. now owns 2,480 shares of the software maker’s stock worth $262,000 after buying an additional 100 shares during the period. Sowell Financial Services LLC lifted its stake in Proofpoint by 10.6% in the fourth quarter. Sowell Financial Services LLC now owns 1,216 shares of the software maker’s stock valued at $166,000 after buying an additional 117 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Proofpoint by 5.9% in the fourth quarter. HighTower Advisors LLC now owns 2,653 shares of the software maker’s stock valued at $361,000 after acquiring an additional 147 shares during the period. Finally, Truist Financial Corp grew its position in shares of Proofpoint by 6.5% during the fourth quarter. Truist Financial Corp now owns 2,852 shares of the software maker’s stock worth $388,000 after acquiring an additional 173 shares during the last quarter. 92.75% of the stock is currently owned by institutional investors.

Proofpoint stock opened at $130.40 on Thursday. Proofpoint, Inc. has a 1 year low of $91.60 and a 1 year high of $140.91. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.64 and a current ratio of 1.64. The firm has a 50 day moving average price of $127.18 and a 200 day moving average price of $119.50. The company has a market cap of $7.48 billion, a price-to-earnings ratio of -47.42 and a beta of 1.25.

Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings results on Thursday, February 4th. The software maker reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.76. Proofpoint had a negative net margin of 15.46% and a negative return on equity of 6.63%. The firm had revenue of $275.13 million during the quarter, compared to analysts’ expectations of $269.06 million. Sell-side analysts predict that Proofpoint, Inc. will post -0.52 EPS for the current year.

PFPT has been the subject of a number of recent research reports. Stephens began coverage on shares of Proofpoint in a research note on Monday, February 1st. They set an “overweight” rating and a $165.00 price target for the company. Truist boosted their target price on Proofpoint from $135.00 to $155.00 in a report on Wednesday, January 27th. Morgan Stanley increased their price target on Proofpoint from $141.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, February 5th. TheStreet raised shares of Proofpoint from a “d+” rating to a “c-” rating in a research note on Monday, December 28th. Finally, Mizuho boosted their price objective on shares of Proofpoint from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Tuesday, January 12th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $141.28.

In other news, EVP Ashan Willy sold 595 shares of Proofpoint stock in a transaction that occurred on Saturday, January 16th. The shares were sold at an average price of $137.83, for a total transaction of $82,008.85. Following the sale, the executive vice president now owns 2,966 shares in the company, valued at $408,803.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Darren Lee sold 2,317 shares of the business’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $123.54, for a total transaction of $286,242.18. Following the transaction, the executive vice president now directly owns 4,634 shares in the company, valued at $572,484.36. The disclosure for this sale can be found here. Insiders sold 15,412 shares of company stock valued at $1,986,126 in the last ninety days. Company insiders own 2.93% of the company’s stock.

About Proofpoint

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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