Proofpoint Inc. (NASDAQ:PFPT)‘s stock had its “buy” rating restated by equities researchers at Wells Fargo & Co. in a research note issued to investors on Sunday.
PFPT has been the topic of a number of other reports. Wunderlich started coverage on Proofpoint in a research report on Tuesday, September 13th. They issued a “buy” rating and a $90.00 target price on the stock. Zacks Investment Research downgraded Proofpoint from a “buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley restated an “overweight” rating on shares of Proofpoint in a research report on Wednesday, June 29th. Needham & Company LLC started coverage on Proofpoint in a research report on Monday, August 1st. They set a “buy” rating and a $88.00 price objective on the stock. Finally, FBR & Co restated an “outperform” rating on shares of Proofpoint in a research report on Thursday, August 25th. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Proofpoint currently has an average rating of “Buy” and a consensus target price of $79.42.
Shares of Proofpoint (NASDAQ:PFPT) opened at 76.52 on Friday. The company’s market capitalization is $3.22 billion. Proofpoint has a 52-week low of $35.56 and a 52-week high of $80.68. The company’s 50 day moving average price is $76.16 and its 200 day moving average price is $63.45.
Proofpoint (NASDAQ:PFPT) last posted its earnings results on Thursday, July 21st. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.13. The company had revenue of $89.90 million for the quarter, compared to the consensus estimate of $84.22 million. Proofpoint had a negative return on equity of 120.27% and a negative net margin of 41.46%. On average, analysts predict that Proofpoint will post $0.09 EPS for the current year.
In related news, Chairman Eric Hahn sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $59.70, for a total transaction of $298,500.00. Following the transaction, the chairman now directly owns 118,164 shares in the company, valued at approximately $7,054,390.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Tracey Newell sold 20,000 shares of the business’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $66.93, for a total value of $1,338,600.00. Following the transaction, the executive vice president now owns 37,467 shares in the company, valued at $2,507,666.31. The disclosure for this sale can be found here. 6.80% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE increased its position in shares of Proofpoint by 5.9% in the second quarter. US Bancorp DE now owns 2,067 shares of the company’s stock valued at $130,000 after buying an additional 115 shares during the period. BlackRock Inc. boosted its stake in shares of Proofpoint by 122.6% in the first quarter. BlackRock Inc. now owns 2,684 shares of the company’s stock worth $143,000 after buying an additional 1,478 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Proofpoint by 199.9% in the second quarter. BNP Paribas Arbitrage SA now owns 2,417 shares of the company’s stock worth $152,000 after buying an additional 1,611 shares in the last quarter. BOKF NA purchased a new stake in shares of Proofpoint during the second quarter worth approximately $193,000. Finally, Mizuho Asset Management Co. Ltd. purchased a new stake in shares of Proofpoint during the second quarter worth approximately $197,000.
Proofpoint, Inc is a security-as-a-service provider that enables 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.
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