Polar Capital Llp Lowers stake in Proofpoint Inc (PFPT)

Proofpoint Inc (PFPT) : Polar Capital Llp reduced its stake in Proofpoint Inc by 8.34% during the most recent quarter end. The investment management company now holds a total of 496,575 shares of Proofpoint Inc which is valued at $37,183,536 after selling 45,187 shares in Proofpoint Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Proofpoint Inc makes up approximately 0.68% of Polar Capital Llp’s portfolio.

Other Hedge Funds, Including , Brown Brothers Harriman Co added PFPT to its portfolio by purchasing 167 company shares during the most recent quarter which is valued at $12,505. Elk Creek Partners added PFPT to its portfolio by purchasing 124,634 company shares during the most recent quarter which is valued at $9,332,594. Proofpoint Inc makes up approx 0.60% of Elk Creek Partners’s portfolio.Credit Suisse Ag boosted its stake in PFPT in the latest quarter, The investment management firm added 30,663 additional shares and now holds a total of 183,326 shares of Proofpoint Inc which is valued at $13,727,451. Proofpoint Inc makes up approx 0.02% of Credit Suisse Ag’s portfolio.Teachers Advisors Inc boosted its stake in PFPT in the latest quarter, The investment management firm added 149,941 additional shares and now holds a total of 598,522 shares of Proofpoint Inc which is valued at $44,817,327. Proofpoint Inc makes up approx 0.07% of Teachers Advisors Inc’s portfolio.Penserra Capital Management reduced its stake in PFPT by selling 66,002 shares or 12.25% in the most recent quarter. The Hedge Fund company now holds 472,809 shares of PFPT which is valued at $35,507,956. Proofpoint Inc makes up approx 4.60% of Penserra Capital Management’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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