Eagle Asset Management Inc Lowers stake in Proofpoint Inc (PFPT)

Proofpoint Inc (PFPT) : Eagle Asset Management Inc reduced its stake in Proofpoint Inc by 0.7% during the most recent quarter end. The investment management company now holds a total of 1,384,707 shares of Proofpoint Inc which is valued at $94,492,406 after selling 9,799 shares in Proofpoint Inc , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Proofpoint Inc makes up approximately 0.63% of Eagle Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Barrett Asset Management sold out all of its stake in PFPT during the most recent quarter. The investment firm sold 102 shares of PFPT which is valued $6,960.Cutler Group Lp reduced its stake in PFPT by selling 926 shares or 38.99% in the most recent quarter. The Hedge Fund company now holds 1,449 shares of PFPT which is valued at $97,619. Proofpoint Inc makes up approx 0.01% of Cutler Group Lp’s portfolio. Creative Planning sold out all of its stake in PFPT during the most recent quarter. The investment firm sold 73 shares of PFPT which is valued $4,918.Bnp Paribas Arbitrage Sa boosted its stake in PFPT in the latest quarter, The investment management firm added 1,611 additional shares and now holds a total of 2,417 shares of Proofpoint Inc which is valued at $164,429.

Proofpoint Inc opened for trading at $66.77 and hit $68.61 on the upside on Wednesday, eventually ending the session at $68.24, with a gain of 2.97% or 1.97 points. The heightened volatility saw the trading volume jump to 6,45,612 shares. Company has a market cap of $2,832 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. Macquarie Initiated Proofpoint Inc on Jul 8, 2016 to “Outperform”, Price Target of the shares are set at $75.Company shares were Reiterated by Wunderlich on Jun 9, 2016 to “Buy”, Firm has raised the Price Target to $ 75 from a previous price target of $67 .

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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