Prudential Financial Inc. Has $315,000 Position in Proofpoint, Inc. (NASDAQ:PFPT)

Prudential Financial Inc. reduced its stake in shares of Proofpoint, Inc. (NASDAQ:PFPT) by 18.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,240 shares of the software maker’s stock after selling 987 shares during the period. Prudential Financial Inc.’s holdings in Proofpoint were worth $315,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Wedbush Securities Inc. boosted its position in shares of Proofpoint by 4.8% in the first quarter. Wedbush Securities Inc. now owns 5,864 shares of the software maker’s stock valued at $436,000 after buying an additional 267 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Proofpoint by 18.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,897 shares of the software maker’s stock worth $215,000 after buying an additional 446 shares in the last quarter. Commerce Bank boosted its position in shares of Proofpoint by 13.0% in the first quarter. Commerce Bank now owns 4,000 shares of the software maker’s stock worth $298,000 after buying an additional 460 shares in the last quarter. Alpha Windward LLC raised its stake in shares of Proofpoint by 9.4% in the first quarter. Alpha Windward LLC now owns 6,282 shares of the software maker’s stock valued at $467,000 after buying an additional 540 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Proofpoint by 1.2% in the first quarter. Swiss National Bank now owns 66,452 shares of the software maker’s stock valued at $4,941,000 after buying an additional 800 shares during the last quarter.

Shares of Proofpoint, Inc. (NASDAQ:PFPT) traded up 1.92% during midday trading on Friday, reaching $86.84. 367,885 shares of the company’s stock traded hands. Proofpoint, Inc. has a 52-week low of $68.04 and a 52-week high of $94.33. The stock has a 50-day moving average price of $87.56 and a 200-day moving average price of $82.49. The stock’s market cap is $3.86 billion.

Proofpoint (NASDAQ:PFPT) last issued its earnings results on Thursday, July 27th. The software maker reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.05. The business had revenue of $122.30 million during the quarter, compared to analyst estimates of $119.58 million. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. Proofpoint’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 earnings per share. Analysts forecast that Proofpoint, Inc. will post $0.65 earnings per share for the current year.

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Several equities research analysts have commented on PFPT shares. Zacks Investment Research upgraded shares of Proofpoint from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Monday, April 24th. Rosenblatt Securities restated a “buy” rating and set a $95.00 target price on shares of Proofpoint in a report on Sunday, April 23rd. Stifel Nicolaus restated a “buy” rating and set a $90.00 target price on shares of Proofpoint in a report on Sunday, April 23rd. Deutsche Bank AG reaffirmed a “buy” rating and issued a $90.00 price objective (up previously from $85.00) on shares of Proofpoint in a research note on Sunday, April 23rd. Finally, Wunderlich reissued a “buy” rating and set a $93.00 target price on shares of Proofpoint in a research note on Sunday, April 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-one have given a buy rating to the company’s stock. Proofpoint has a consensus rating of “Buy” and a consensus price target of $92.78.

In other Proofpoint news, CEO Gary Steele sold 40,000 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $80.38, for a total value of $3,215,200.00. Following the completion of the transaction, the chief executive officer now owns 61,780 shares in the company, valued at $4,965,876.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Paul R. Auvil III sold 25,000 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $86.08, for a total value of $2,152,000.00. Following the completion of the transaction, the chief financial officer now owns 120,478 shares of the company’s stock, valued at approximately $10,370,746.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 186,299 shares of company stock valued at $15,989,869. Insiders own 6.80% of the company’s stock.

About Proofpoint

Proofpoint, Inc is a security-as-a-service provider that enables large and mid-sized organizations to defend, protect, archive and govern their sensitive data. The Company’s security-as-a-service platform consists of an integrated suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication.

Institutional Ownership by Quarter for Proofpoint (NASDAQ:PFPT)

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