Thornburg Investment Management Inc. Has $11.66 Million Stake in Proofpoint Inc (PFPT)

Thornburg Investment Management Inc. lessened its stake in Proofpoint Inc (NASDAQ:PFPT) by 22.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 96,049 shares of the software maker’s stock after selling 27,889 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Proofpoint were worth $11,663,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Proofpoint during the fourth quarter valued at approximately $39,840,000. Neuberger Berman Group LLC raised its holdings in shares of Proofpoint by 143.0% during the third quarter. Neuberger Berman Group LLC now owns 734,917 shares of the software maker’s stock valued at $78,144,000 after acquiring an additional 432,467 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Proofpoint by 67.2% during the fourth quarter. Bank of New York Mellon Corp now owns 925,102 shares of the software maker’s stock valued at $77,534,000 after acquiring an additional 371,864 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Proofpoint by 101.7% during the fourth quarter. Westfield Capital Management Co. LP now owns 493,611 shares of the software maker’s stock valued at $41,370,000 after acquiring an additional 248,911 shares during the last quarter. Finally, Scout Investments Inc. acquired a new position in shares of Proofpoint during the first quarter valued at approximately $23,398,000. 94.79% of the stock is owned by institutional investors and hedge funds.

Proofpoint stock traded down $1.57 during mid-day trading on Friday, hitting $119.97. The company’s stock had a trading volume of 312,560 shares, compared to its average volume of 524,718. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of -104.32 and a beta of 1.79. Proofpoint Inc has a 1 year low of $75.92 and a 1 year high of $131.43. 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 (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, April 25th. The software maker reported ($0.33) earnings per share for the quarter, hitting the consensus estimate of ($0.33). The company had revenue of $202.90 million during the quarter, compared to analyst estimates of $199.32 million. Proofpoint had a negative return on equity of 13.93% and a negative net margin of 15.82%. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 earnings per share. Analysts forecast that Proofpoint Inc will post -0.82 EPS for the current year.

In other Proofpoint news, CEO Gary Steele sold 20,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $122.16, for a total transaction of $2,443,200.00. Following the transaction, the chief executive officer now directly owns 162,209 shares in the company, valued at $19,815,451.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paul R. Auvil III sold 30,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $121.23, for a total value of $3,636,900.00. Following the transaction, the chief financial officer now owns 104,192 shares in the company, valued at $12,631,196.16. The disclosure for this sale can be found here. Insiders sold 169,227 shares of company stock valued at $20,452,648 over the last quarter. 2.93% of the stock is currently owned by company insiders.

A number of brokerages have commented on PFPT. Zacks Investment Research raised Proofpoint from a “hold” rating to a “buy” rating and set a $134.00 target price for the company in a report on Thursday. Wedbush reissued an “outperform” rating and set a $130.00 target price on shares of Proofpoint in a report on Friday, April 12th. Robert W. Baird restated a “buy” rating on shares of Proofpoint in a research report on Friday, April 26th. Piper Jaffray Companies upped their price target on Proofpoint from $120.00 to $136.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, Bank of America began coverage on Proofpoint in a research report on Friday, April 12th. They issued a “buy” rating and a $155.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Proofpoint presently has an average rating of “Buy” and an average price target of $132.05.

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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.

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Institutional Ownership by Quarter for Proofpoint (NASDAQ:PFPT)

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