Proofpoint Inc. (NASDAQ:PFPT) fell 2.3% 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.

Several equities research analysts have recently commented on the company. Wedbush reissued a “buy” rating and issued a $78.00 target price on shares of Proofpoint in a research note on Monday. Macquarie assumed coverage on Proofpoint in a research note on Friday, July 8th. They issued an “outperform” rating and a $75.00 target price for the company. Wunderlich reissued a “buy” rating on shares of Proofpoint in a research note on Wednesday, July 6th. Morgan Stanley reissued an “overweight” rating on shares of Proofpoint in a research note on Wednesday, June 29th. Finally, Citigroup Inc. reissued a “buy” rating on shares of Proofpoint in a research note on Wednesday, June 29th. Two equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $73.24.

The stock’s 50 day moving average price is $62.44 and its 200-day moving average price is $55.21. The company’s market cap is $2.79 billion.

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

In other Proofpoint news, EVP David Knight sold 20,300 shares of the stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $60.14, for a total transaction of $1,220,842.00. Following the completion of the sale, the executive vice president now directly owns 15,592 shares in the company, valued at approximately $937,702.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Robert Darren Lee sold 2,000 shares of the stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $68.99, for a total value of $137,980.00. Following the sale, the senior vice president now owns 94 shares of the company’s stock, valued at $6,485.06. The disclosure for this sale can be found here.

A number of hedge funds have modified their holdings of PFPT. Russell Frank Co increased its stake in shares of Proofpoint by 1.6% in the fourth quarter. Russell Frank Co now owns 234,830 shares of the company’s stock worth $15,527,000 after buying an additional 3,607 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Proofpoint by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 73,056 shares of the company’s stock worth $4,749,000 after buying an additional 1,159 shares during the last quarter. Swiss National Bank increased its stake in shares of Proofpoint by 1.2% in the fourth quarter. Swiss National Bank now owns 49,052 shares of the company’s stock worth $3,189,000 after buying an additional 600 shares during the last quarter. Sei Investments Co. increased its stake in shares of Proofpoint by 169.7% in the fourth quarter. Sei Investments Co. now owns 64,933 shares of the company’s stock worth $4,221,000 after buying an additional 40,860 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Proofpoint by 3.1% in the fourth quarter. First Trust Advisors LP now owns 45,273 shares of the company’s stock worth $2,943,000 after buying an additional 1,348 shares during 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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