Mirae Asset Global Investments Co. Ltd. Acquires New Position in Proofpoint Inc (PFPT)

Mirae Asset Global Investments Co. Ltd. bought a new stake in Proofpoint Inc (NASDAQ:PFPT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,652 shares of the software maker’s stock, valued at approximately $272,000.

Other institutional investors have also added to or reduced their stakes in the company. A.R.T. Advisors LLC boosted its position in Proofpoint by 239.7% in the fourth quarter. A.R.T. Advisors LLC now owns 23,100 shares of the software maker’s stock valued at $1,632,000 after buying an additional 16,300 shares during the last quarter. Northern Trust Corp boosted its position in Proofpoint by 0.6% in the third quarter. Northern Trust Corp now owns 584,319 shares of the software maker’s stock valued at $43,737,000 after buying an additional 3,370 shares during the last quarter. Flinton Capital Management LLC acquired a new position in Proofpoint during the fourth quarter valued at about $424,000. California State Teachers Retirement System boosted its position in Proofpoint by 0.8% in the third quarter. California State Teachers Retirement System now owns 86,417 shares of the software maker’s stock valued at $6,468,000 after buying an additional 700 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in Proofpoint during the fourth quarter valued at about $6,735,000.

Institutional Ownership by Quarter for Proofpoint (NASDAQ:PFPT)

Proofpoint Inc (NASDAQ:PFPT) traded up 1.58% during midday trading on Friday, reaching $82.18. The company had a trading volume of 708,366 shares. Proofpoint Inc has a 52-week low of $52.88 and a 52-week high of $88.48. The company’s 50 day moving average is $77.32 and its 200-day moving average is $78.01. The company’s market capitalization is $3.59 billion.

Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Thursday, April 20th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.03. The firm had revenue of $113.30 million for the quarter, compared to analyst estimates of $110.60 million. Proofpoint had a negative net margin of 29.62% and a negative return on equity of 110.22%. The firm’s quarterly revenue was up 43.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.09) earnings per share. Equities analysts expect that Proofpoint Inc will post $0.58 earnings per share for the current fiscal year.

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PFPT has been the topic of several recent analyst reports. Wunderlich reiterated a “buy” rating and set a $93.00 target price (up previously from $90.00) on shares of Proofpoint in a research report on Sunday, January 29th. Goldman Sachs Group Inc cut Proofpoint from a “neutral” rating to a “sell” rating and set a $69.00 target price on the stock. in a research report on Thursday, March 23rd. BTIG Research reiterated a “buy” rating on shares of Proofpoint in a research report on Tuesday, January 24th. Zacks Investment Research upgraded Proofpoint from a “sell” rating to a “hold” rating in a research report on Friday, January 27th. Finally, DA Davidson reiterated a “neutral” rating and set a $79.00 target price on shares of Proofpoint in a research report on Tuesday, January 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $84.50.

In other Proofpoint news, CEO Gary Steele sold 40,000 shares of Proofpoint stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $80.38, for a total value of $3,215,200.00. Following 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 document filed with the SEC, which is available at this link. Also, EVP David Knight sold 23,000 shares of Proofpoint stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $80.07, for a total transaction of $1,841,610.00. Following the completion of the transaction, the executive vice president now owns 33,052 shares in the company, valued at approximately $2,646,473.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 211,799 shares of company stock worth $16,823,632. 6.80% of the stock is currently owned by company insiders.

Proofpoint Company Profile

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.

5 Day Chart for NASDAQ:PFPT

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