Next Century Growth Investors Lowers stake in Proofpoint Inc (PFPT)

Proofpoint Inc (PFPT) : Next Century Growth Investors reduced its stake in Proofpoint Inc by 2.56% during the most recent quarter end. The investment management company now holds a total of 690,751 shares of Proofpoint Inc which is valued at $51,723,435 after selling 18,155 shares in Proofpoint Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Proofpoint Inc makes up approximately 2.30% of Next Century Growth Investors’s portfolio.

Other Hedge Funds, Including , Parametric Portfolio Associates reduced its stake in PFPT by selling 30,957 shares or 18.77% in the most recent quarter. The Hedge Fund company now holds 133,960 shares of PFPT which is valued at $10,030,925. Proofpoint Inc makes up approx 0.02% of Parametric Portfolio Associates’s portfolio.United Services Automobile Association boosted its stake in PFPT in the latest quarter, The investment management firm added 5,050 additional shares and now holds a total of 44,174 shares of Proofpoint Inc which is valued at $3,307,749. Proofpoint Inc makes up approx 0.01% of United Services Automobile Association’s portfolio.Turner Investments reduced its stake in PFPT by selling 8,050 shares or 10.04% in the most recent quarter. The Hedge Fund company now holds 72,120 shares of PFPT which is valued at $5,401,067. Proofpoint Inc makes up approx 1.58% of Turner Investments’s portfolio. Eam Investors sold out all of its stake in PFPT during the most recent quarter. The investment firm sold 52,000 shares of PFPT which is valued $3,894,280.

Proofpoint Inc opened for trading at $77.65 and hit $78.3 on the upside on Monday, eventually ending the session at $77.5, with a gain of 0.39% or 0.3 points. The heightened volatility saw the trading volume jump to 3,15,799 shares. Company has a market cap of $3,258 M.

On the company’s financial health, Proofpoint Inc reported $-0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $-0.14. The company had revenue of $79.00 million for the quarter, compared to analysts expectations of $76.29 million. The company’s revenue was up 36.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.09 EPS.

Many Wall Street Analysts have commented on Proofpoint Inc. Needham Initiated Proofpoint Inc on Aug 2, 2016 to “Buy”, Price Target of the shares are set at $88.Rosenblatt Initiated Proofpoint Inc on Aug 1, 2016 to “Buy”, Price Target of the shares are set at $95.Company shares were Reiterated by Imperial Capital on Jul 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 83 from a previous price target of $69 .

Proofpoint Inc. is a security-as-a-service provider that provides data protection solutions for 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. The Company provides a multi-tiered security-as-a-service platform comprising solutions platform technologies and infrastructure. Its security-as-a-service platform offers a bundle of five solutions: Proofpoint Enterprise Protection Proofpoint Enterprise Privacy Proofpoint Enterprise Archive & Governance Proofpoint Nexgate Social Media Security & Compliance and Proofpoint Essentials. Its platform’s services include content inspection reputation encryption and key management notification and workflow and analytics and search.

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