Proofpoint Inc (PFPT) Shares Sold by United Services Automobile Association

Share on StockTwits

United Services Automobile Association cut its position in Proofpoint Inc (NASDAQ:PFPT) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,781 shares of the software maker’s stock after selling 928 shares during the quarter. United Services Automobile Association owned approximately 0.05% of Proofpoint worth $3,060,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wasatch Advisors Inc. lifted its position in Proofpoint by 40.0% during the 3rd quarter. Wasatch Advisors Inc. now owns 992,935 shares of the software maker’s stock worth $105,579,000 after acquiring an additional 283,598 shares during the period. FMR LLC lifted its position in Proofpoint by 22.2% during the 3rd quarter. FMR LLC now owns 1,516,931 shares of the software maker’s stock worth $161,295,000 after acquiring an additional 276,000 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its position in Proofpoint by 963.5% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 292,737 shares of the software maker’s stock worth $31,127,000 after acquiring an additional 265,210 shares during the period. Alliancebernstein L.P. lifted its position in Proofpoint by 65.5% during the 3rd quarter. Alliancebernstein L.P. now owns 639,179 shares of the software maker’s stock worth $67,964,000 after acquiring an additional 252,855 shares during the period. Finally, First Trust Advisors LP lifted its position in Proofpoint by 111.0% during the 3rd quarter. First Trust Advisors LP now owns 441,552 shares of the software maker’s stock worth $46,950,000 after acquiring an additional 232,321 shares during the period. 97.81% of the stock is owned by hedge funds and other institutional investors.

NASDAQ PFPT opened at $85.60 on Wednesday. Proofpoint Inc has a 1-year low of $75.92 and a 1-year high of $130.27. The company has a market capitalization of $4.63 billion, a P/E ratio of -65.34 and a beta of 1.46.

Proofpoint (NASDAQ:PFPT) last released its quarterly earnings results on Thursday, October 25th. The software maker reported $0.40 earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.73. The company had revenue of $184.18 million during the quarter, compared to the consensus estimate of $181.69 million. Proofpoint had a negative return on equity of 11.86% and a negative net margin of 14.08%. As a group, equities analysts predict that Proofpoint Inc will post -1.14 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on PFPT. Guggenheim began coverage on Proofpoint in a research note on Monday, December 10th. They set a “buy” rating and a $110.00 target price for the company. Zacks Investment Research reissued a “hold” rating on shares of Proofpoint in a research note on Wednesday, November 14th. Morgan Stanley cut their target price on Proofpoint from $134.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, October 29th. Goldman Sachs Group raised Proofpoint from a “neutral” rating to a “buy” rating and set a $114.00 target price for the company in a research note on Monday, October 29th. Finally, JMP Securities cut their target price on Proofpoint from $145.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, October 26th. Three equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Proofpoint has an average rating of “Buy” and a consensus price target of $124.36.

In other Proofpoint news, EVP David Knight sold 1,500 shares of the firm’s stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $102.90, for a total transaction of $154,350.00. Following the completion of the transaction, the executive vice president now owns 14,214 shares of the company’s stock, valued at $1,462,620.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gary Steele sold 50,000 shares of the firm’s stock in a transaction on Thursday, December 13th. The stock was sold at an average price of $95.00, for a total value of $4,750,000.00. Following the transaction, the chief executive officer now directly owns 152,577 shares of the company’s stock, valued at approximately $14,494,815. The disclosure for this sale can be found here. Insiders have sold 152,886 shares of company stock valued at $14,746,618 in the last three months. 3.37% of the stock is currently owned by company insiders.

ILLEGAL ACTIVITY WARNING: “Proofpoint Inc (PFPT) Shares Sold by United Services Automobile Association” was published by Week Herald and is the sole property of of Week Herald. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this story can be accessed at https://weekherald.com/2018/12/19/proofpoint-inc-pfpt-shares-sold-by-united-services-automobile-association.html.

About Proofpoint

Proofpoint, Inc operates as a security-as-a-service (SaaS) 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: Why is the LIBOR significant?

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.

Leave a Reply