Jericho Capital Asset Management buys $105,351,517 stake in Proofpoint Inc (PFPT)

Proofpoint Inc (PFPT) : Jericho Capital Asset Management scooped up 584,125 additional shares in Proofpoint Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,406,938 shares of Proofpoint Inc which is valued at $105,351,517.Proofpoint Inc makes up approximately 5.63% of Jericho Capital Asset Management’s portfolio.

Other Hedge Funds, Including , Hunt Lane Capital Lp reduced its stake in PFPT by selling 208,000 shares or 26.0% in the most recent quarter. The Hedge Fund company now holds 592,000 shares of PFPT which is valued at $44,328,960. Proofpoint Inc makes up approx 12.98% of Hunt Lane Capital Lp’s portfolio.Pictet Asset Management Ltd boosted its stake in PFPT in the latest quarter, The investment management firm added 1,800 additional shares and now holds a total of 408,600 shares of Proofpoint Inc which is valued at $30,595,968. Proofpoint Inc makes up approx 0.11% of Pictet Asset Management Ltd’s portfolio.Fourpoints Investment Managers S.a.s. reduced its stake in PFPT by selling 2,260 shares or 23.64% in the most recent quarter. The Hedge Fund company now holds 7,301 shares of PFPT which is valued at $546,699. Proofpoint Inc makes up approx 0.36% of Fourpoints Investment Managers S.a.s.’s portfolio. Ameritas Investment Partners added PFPT to its portfolio by purchasing 3,232 company shares during the most recent quarter which is valued at $242,012. Proofpoint Inc makes up approx 0.02% of Ameritas Investment Partners’s portfolio. Princeton Alpha Management Lp added PFPT to its portfolio by purchasing 4,763 company shares during the most recent quarter which is valued at $356,701. Proofpoint Inc makes up approx 0.06% of Princeton Alpha Management Lp’s portfolio.

Proofpoint Inc opened for trading at $76.83 and hit $78.2 on the upside on Thursday, eventually ending the session at $78.19, with a gain of 1.61% or 1.24 points. The heightened volatility saw the trading volume jump to 6,44,903 shares. Company has a market cap of $3,287 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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