Light Street Capital Management Lowers stake in Proofpoint Inc (PFPT)

Proofpoint Inc (PFPT) : Light Street Capital Management reduced its stake in Proofpoint Inc by 25.0% during the most recent quarter end. The investment management company now holds a total of 450,000 shares of Proofpoint Inc which is valued at $33,696,000 after selling 150,000 shares in Proofpoint Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Proofpoint Inc makes up approximately 5.10% of Light Street Capital Management’s portfolio.

Other Hedge Funds, Including , Two Sigma Advisers Lp added PFPT to its portfolio by purchasing 12,916 company shares during the most recent quarter which is valued at $967,150. Handelsinvest Investeringsforvaltning added PFPT to its portfolio by purchasing 11,000 company shares during the most recent quarter which is valued at $826,100. Proofpoint Inc makes up approx 0.30% of Handelsinvest Investeringsforvaltning’s portfolio.Gilder Gagnon Howe Co reduced its stake in PFPT by selling 15,987 shares or 10.28% in the most recent quarter. The Hedge Fund company now holds 139,595 shares of PFPT which is valued at $10,536,631. Proofpoint Inc makes up approx 0.19% of Gilder Gagnon Howe Co’s portfolio. Fny Managed Accounts sold out all of its stake in PFPT during the most recent quarter. The investment firm sold 2,500 shares of PFPT which is valued $186,350.

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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