Proofpoint, Inc. (NASDAQ:PFPT) Shares Sold by Oak Ridge Investments LLC

Oak Ridge Investments LLC cut its stake in shares of Proofpoint, Inc. (NASDAQ:PFPT) by 14.1% in the first quarter, HoldingsChannel.com reports. The fund owned 6,765 shares of the software maker’s stock after selling 1,113 shares during the period. Oak Ridge Investments LLC’s holdings in Proofpoint were worth $851,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Xponance Inc. raised its position in shares of Proofpoint by 1.1% in the first quarter. Xponance Inc. now owns 5,875 shares of the software maker’s stock valued at $739,000 after buying an additional 63 shares during the last quarter. Arizona State Retirement System raised its position in shares of Proofpoint by 0.5% in the first quarter. Arizona State Retirement System now owns 16,799 shares of the software maker’s stock valued at $2,113,000 after buying an additional 83 shares during the last quarter. Heritage Trust Co raised its position in shares of Proofpoint by 1.5% in the fourth quarter. Heritage Trust Co now owns 5,570 shares of the software maker’s stock valued at $760,000 after buying an additional 85 shares during the last quarter. HighTower Advisors LLC raised its position 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 buying an additional 147 shares during the last quarter. Finally, Truist Financial Corp raised its position in shares of Proofpoint by 6.5% in the fourth quarter. Truist Financial Corp now owns 2,852 shares of the software maker’s stock valued at $388,000 after buying an additional 173 shares during the last quarter. Institutional investors and hedge funds own 94.77% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Northland Securities cut shares of Proofpoint from an “outperform” rating to a “market perform” rating in a research report on Monday, April 26th. Royal Bank of Canada cut shares of Proofpoint from an “outperform” rating to a “sector perform” rating in a research report on Monday, April 26th. Colliers Securities restated a “neutral” rating on shares of Proofpoint in a research report on Monday, May 3rd. DA Davidson restated a “neutral” rating and set a $176.00 price objective (up from $160.00) on shares of Proofpoint in a research report on Monday, May 3rd. Finally, BTIG Research restated a “neutral” rating on shares of Proofpoint in a research report on Monday, May 3rd. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $159.27.

In other news, EVP David Knight sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 6th. The shares were sold at an average price of $129.67, for a total value of $324,175.00. Following the completion of the transaction, the executive vice president now owns 17,365 shares of the company’s stock, valued at $2,251,719.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Robert Darren Lee sold 2,317 shares of the firm’s stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $123.54, for a total transaction of $286,242.18. Following the completion of the transaction, the executive vice president now directly owns 4,634 shares of the company’s stock, valued at approximately $572,484.36. The disclosure for this sale can be found here. In the last three months, insiders sold 9,817 shares of company stock valued at $1,259,817. Insiders own 2.38% of the company’s stock.

Shares of PFPT stock opened at $173.60 on Friday. The stock’s 50-day moving average is $159.36. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 3.11. Proofpoint, Inc. has a 1-year low of $91.60 and a 1-year high of $174.61. The stock has a market capitalization of $9.96 billion, a price-to-earnings ratio of -74.19 and a beta of 1.23.

Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings data on Sunday, April 25th. The software maker reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.09. Proofpoint had a negative net margin of 12.40% and a negative return on equity of 8.79%. The business had revenue of $287.30 million during the quarter, compared to analyst estimates of $281.63 million. During the same quarter last year, the firm posted $0.38 earnings per share. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Proofpoint, Inc. will post -1.05 EPS for the current fiscal year.

Proofpoint 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.

Recommended Story: What can cause a stock to outperform?

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)

Receive News & Ratings for Proofpoint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proofpoint and related companies with MarketBeat.com's FREE daily email newsletter.