Proofpoint Inc (NASDAQ:PFPT) has received a consensus rating of “Buy” from the twenty-nine brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, twenty-one have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $104.70.
Several equities research analysts have recently issued reports on PFPT shares. Evercore ISI restated a “buy” rating and issued a $105.00 target price on shares of Proofpoint in a report on Wednesday, November 22nd. Piper Jaffray Companies set a $105.00 target price on shares of Proofpoint and gave the stock a “buy” rating in a report on Friday, October 20th. Deutsche Bank restated a “buy” rating and issued a $114.00 target price (up previously from $100.00) on shares of Proofpoint in a report on Wednesday, October 18th. Stifel Nicolaus set a $100.00 target price on shares of Proofpoint and gave the stock a “buy” rating in a report on Monday, October 16th. Finally, Monness Crespi & Hardt started coverage on shares of Proofpoint in a report on Monday, October 16th. They issued a “buy” rating and a $110.00 target price for the company.
Proofpoint (NASDAQ:PFPT) traded down $0.47 during trading on Friday, hitting $101.55. 348,550 shares of the stock traded hands, compared to its average volume of 392,568. The company has a market cap of $4,530.00, a price-to-earnings ratio of -45.95 and a beta of 1.39. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 11.57. Proofpoint has a 12-month low of $70.30 and a 12-month high of $104.62.
In related news, EVP Tracey Newell sold 8,183 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $96.54, for a total value of $789,986.82. Following the transaction, the executive vice president now owns 23,376 shares of the company’s stock, valued at approximately $2,256,719.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Eric Hahn sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $83.71, for a total transaction of $418,550.00. Following the completion of the transaction, the chairman now directly owns 38,201 shares in the company, valued at approximately $3,197,805.71. The disclosure for this sale can be found here. Insiders sold a total of 165,549 shares of company stock worth $14,900,426 in the last ninety days. 5.96% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its position in Proofpoint by 9.7% during the 2nd quarter. BlackRock Inc. now owns 3,503,427 shares of the software maker’s stock valued at $304,204,000 after purchasing an additional 309,998 shares during the period. Vanguard Group Inc. increased its position in Proofpoint by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 3,392,578 shares of the software maker’s stock valued at $294,577,000 after purchasing an additional 77,721 shares during the period. Artisan Partners Limited Partnership increased its position in Proofpoint by 8.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 3,012,092 shares of the software maker’s stock valued at $262,715,000 after purchasing an additional 225,970 shares during the period. FMR LLC increased its position in Proofpoint by 10.9% during the 2nd quarter. FMR LLC now owns 961,745 shares of the software maker’s stock valued at $83,508,000 after purchasing an additional 94,545 shares during the period. Finally, Macquarie Group Ltd. increased its position in Proofpoint by 13.0% during the 2nd quarter. Macquarie Group Ltd. now owns 942,966 shares of the software maker’s stock valued at $81,878,000 after purchasing an additional 108,772 shares during the period.
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Proofpoint, Inc is a security-as-a-service provider that enables large and mid-sized organizations to defend, protect, archive and govern their sensitive data. The Company’s security-as-a-service platform consists of an integrated suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication.
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