Shares of Proofpoint Inc. (NASDAQ:PFPT) were down 2.3% during mid-day trading on Tuesday . The company traded as low as $66.82 and last traded at $67.50, with a volume of 460,206 shares trading hands. The stock had previously closed at $69.08.

A number of analysts have issued reports on PFPT shares. Evercore ISI started coverage on shares of Proofpoint in a report on Wednesday, June 29th. They issued a “buy” rating on the stock. Macquarie started coverage on shares of Proofpoint in a report on Friday. They issued an “outperform” rating and a $75.00 price target on the stock. Credit Suisse Group AG reiterated a “buy” rating and issued a $85.00 price target on shares of Proofpoint in a report on Thursday, June 9th. Goldman Sachs Group Inc. started coverage on shares of Proofpoint in a report on Monday, March 21st. They issued a “neutral” rating and a $58.00 price target on the stock. Finally, Imperial Capital lifted their price target on shares of Proofpoint from $68.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, April 25th. Two research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $73.24.

The company’s market capitalization is $2.81 billion. The stock’s 50 day moving average is $61.74 and its 200-day moving average is $55.03.

Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings data on Thursday, April 21st. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.05. During the same period in the previous year, the business earned ($0.09) earnings per share. The company had revenue of $79 million for the quarter, compared to analysts’ expectations of $76.31 million. The business’s revenue for the quarter was up 36.8% on a year-over-year basis. Equities analysts anticipate that Proofpoint Inc. will post ($0.13) earnings per share for the current year.

In other news, CEO Gary Steele sold 1,900 shares of the firm’s stock in a transaction dated Friday, April 15th. The shares were sold at an average price of $52.00, for a total value of $98,800.00. Following the transaction, the chief executive officer now directly owns 13,063 shares of the company’s stock, valued at $679,276. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Tracey Newell sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $58.33, for a total transaction of $1,166,600.00. Following the completion of the transaction, the executive vice president now directly owns 36,631 shares in the company, valued at $2,136,686.23. The disclosure for this sale can be found here.

Several institutional investors have bought and sold shares of PFPT. Zweig DiMenna Associates LLC acquired a new position in Proofpoint during the fourth quarter valued at $21,434,000. Turner Investments L.P. increased its position in Proofpoint by 25.6% in the fourth quarter. Turner Investments L.P. now owns 93,950 shares of the company’s stock valued at $6,108,000 after buying an additional 19,160 shares in the last quarter. Penserra Capital Management LLC acquired a new position in Proofpoint during the fourth quarter valued at $37,274,000. State of Wisconsin Investment Board increased its position in Proofpoint by 51.4% in the fourth quarter. State of Wisconsin Investment Board now owns 147,322 shares of the company’s stock valued at $9,577,000 after buying an additional 50,000 shares in the last quarter. Finally, EAM Investors LLC increased its position in Proofpoint by 2.6% in the fourth quarter. EAM Investors LLC now owns 56,323 shares of the company’s stock valued at $3,662,000 after buying an additional 1,404 shares in the last quarter.

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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