Hood River Capital Management LLC Sells 73,274 Shares of Proofpoint, Inc. (PFPT)

Hood River Capital Management LLC Sells 73,274 Shares of Proofpoint, Inc. (PFPT)

Hood River Capital Management LLC cut its position in shares of Proofpoint, Inc. (NASDAQ:PFPT) by 21.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 267,882 shares of the company’s stock after selling 73,274 shares during the period. Proofpoint comprises 2.1% of Hood River Capital Management LLC’s holdings, making the stock its 11th largest position. Hood River Capital Management LLC owned about 0.63% of Proofpoint worth $20,051,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. US Bancorp DE raised its stake in Proofpoint by 5.9% in the second quarter. US Bancorp DE now owns 2,067 shares of the company’s stock worth $130,000 after buying an additional 115 shares during the period. Amalgamated Bank raised its position in Proofpoint by 4.0% in the second quarter. Amalgamated Bank now owns 4,314 shares of the company’s stock worth $324,000 after buying an additional 164 shares during the last quarter. American International Group Inc. raised its position in Proofpoint by 0.7% in the second quarter. American International Group Inc. now owns 23,505 shares of the company’s stock worth $1,483,000 after buying an additional 165 shares during the last quarter. Principal Financial Group Inc. raised its position in Proofpoint by 3.4% in the second quarter. Principal Financial Group Inc. now owns 5,461 shares of the company’s stock worth $345,000 after buying an additional 179 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Proofpoint by 4.2% in the second quarter. Legal & General Group Plc now owns 8,823 shares of the company’s stock worth $547,000 after buying an additional 355 shares during the last quarter.

Shares of Proofpoint, Inc. (NASDAQ:PFPT) traded down 7.68% during trading on Friday, reaching $76.28. The company had a trading volume of 888,654 shares. The company’s 50 day moving average is $75.20 and its 200-day moving average is $75.41. The stock’s market capitalization is $3.24 billion. Proofpoint, Inc. has a 1-year low of $35.56 and a 1-year high of $88.00.

Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings data on Thursday, January 26th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. The firm had revenue of $106.80 million for the quarter, compared to analyst estimates of $104.81 million. Proofpoint had a negative net margin of 34.83% and a negative return on equity of 119.85%. The business’s quarterly revenue was up 42.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.11) earnings per share. On average, equities research analysts anticipate that Proofpoint, Inc. will post $0.31 earnings per share for the current year.

A number of research firms have commented on PFPT. Royal Bank Of Canada upped their price target on Proofpoint from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Friday. Wedbush upped their price target on Proofpoint from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday. Zacks Investment Research raised Proofpoint from a “sell” rating to a “hold” rating in a research report on Friday. RBC Capital Markets upped their price target on Proofpoint from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Robert W. Baird started coverage on Proofpoint in a report on Monday, November 14th. They set an “outperform” rating and a $92.00 target price on the stock. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Proofpoint currently has an average rating of “Buy” and a consensus price target of $80.85.

In other news, CFO Paul R. Auvil III sold 25,000 shares of the business’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $78.90, for a total transaction of $1,972,500.00. Following the sale, the chief financial officer now directly owns 550,229 shares of the company’s stock, valued at $43,413,068.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert Darren Lee sold 2,000 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $78.34, for a total transaction of $156,680.00. Following the sale, the senior vice president now directly owns 1,203 shares in the company, valued at $94,243.02. The disclosure for this sale can be found here. Insiders have sold 115,290 shares of company stock worth $8,955,263 over the last three months. Corporate 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 around the world. The Company’s security-as-a-service platform consists of a suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication.

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