BlackRock Inc. lifted its position in Proofpoint Inc (NASDAQ:PFPT) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,445,564 shares of the software maker’s stock after purchasing an additional 56,860 shares during the quarter. BlackRock Inc.’s holdings in Proofpoint were worth $296,965,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Manchester Capital Management LLC bought a new stake in Proofpoint in the first quarter valued at $56,000. AdvisorNet Financial Inc grew its position in Proofpoint by 88.7% in the fourth quarter. AdvisorNet Financial Inc now owns 1,170 shares of the software maker’s stock valued at $98,000 after acquiring an additional 550 shares during the period. World Asset Management Inc bought a new stake in Proofpoint in the first quarter valued at $207,000. Commerzbank Aktiengesellschaft FI bought a new stake in Proofpoint in the fourth quarter valued at $210,000. Finally, Brandywine Managers LLC grew its position in Proofpoint by 8.3% in the fourth quarter. Brandywine Managers LLC now owns 2,600 shares of the software maker’s stock valued at $218,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 95.50% of the company’s stock.
Shares of PFPT stock opened at $107.18 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.07. The firm has a market cap of $5.97 billion, a PE ratio of -93.20 and a beta of 1.75. Proofpoint Inc has a 52 week low of $75.92 and a 52 week high of $131.43.
In other news, 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 transaction of $3,636,900.00. Following the transaction, the chief financial officer now owns 104,192 shares of the company’s stock, valued at $12,631,196.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Knight sold 1,500 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $121.78, for a total value of $182,670.00. Following the transaction, the executive vice president now directly owns 18,038 shares in the company, valued at approximately $2,196,667.64. The disclosure for this sale can be found here. Insiders have sold 171,135 shares of company stock worth $20,375,165 in the last 90 days. Company insiders own 2.93% of the company’s stock.
A number of 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 research report on Friday, April 26th. Deutsche Bank upped their price target on Proofpoint from $95.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Wells Fargo & Co upped their price target on Proofpoint from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Dougherty & Co reiterated a “buy” rating and issued a $140.00 price target (up from $115.00) on shares of Proofpoint in a research report on Friday, April 26th. Finally, KeyCorp 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, February 25th. One 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. The company currently has an average rating of “Buy” and a consensus target price of $131.30.
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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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