Proofpoint Inc. (PFPT) Sets New 1-Year High at $76.45
Proofpoint Inc. (NASDAQ:PFPT) hit a new 52-week high on Thursday . The company traded as high as $76.45 and last traded at $76.04, with a volume of 341,968 shares changing hands. The stock had previously closed at $74.54.
A number of brokerages have weighed in on PFPT. Zacks Investment Research raised Proofpoint from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a report on Wednesday. Deutsche Bank AG set a $80.00 price target on shares of Proofpoint and gave the company a “buy” rating in a research report on Sunday, July 24th. RBC Capital Markets reiterated an “outperform” rating and set a $80.00 price target (up from $70.00) on shares of Proofpoint in a research report on Sunday, July 24th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $85.00 price target (up from $76.00) on shares of Proofpoint in a research report on Monday, July 25th. Finally, Imperial Capital lifted their price target on shares of Proofpoint from $69.00 to $83.00 and gave the company an “outperform” rating in a research report on Monday, July 25th. One analyst has rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Proofpoint has a consensus rating of “Buy” and a consensus price target of $77.09.
The company’s market capitalization is $3.18 billion. The stock’s 50 day moving average is $65.73 and its 200 day moving average is $55.96.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.13. The company earned $89.90 million during the quarter, compared to the consensus estimate of $84.22 million. Equities analysts predict that Proofpoint Inc. will post $0.04 earnings per share for the current fiscal year.
In other news, SVP Robert Darren Lee sold 2,000 shares of the stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $68.99, for a total value of $137,980.00. Following the completion of the transaction, the senior vice president now directly owns 94 shares in the company, valued at $6,485.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dana L. Evan sold 1,500 shares of the stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $74.16, for a total transaction of $111,240.00. Following the completion of the transaction, the director now owns 8,993 shares of the company’s stock, valued at $666,920.88. The disclosure for this sale can be found here.
Other hedge funds have modified their holdings of the company. Jennison Associates LLC boosted its stake in shares of Proofpoint by 12.4% in the fourth quarter. Jennison Associates LLC now owns 422,129 shares of the company’s stock worth $27,443,000 after buying an additional 46,580 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new stake in shares of Proofpoint during the fourth quarter worth $21,434,000. State of Wisconsin Investment Board boosted its stake in shares of Proofpoint by 51.4% in the fourth quarter. State of Wisconsin Investment Board now owns 147,322 shares of the company’s stock worth $9,577,000 after buying an additional 50,000 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Proofpoint by 45.8% in the fourth quarter. New York State Common Retirement Fund now owns 144,025 shares of the company’s stock worth $9,363,000 after buying an additional 45,217 shares during the last quarter. Finally, Airain ltd acquired a new stake in shares of Proofpoint during the fourth quarter worth $3,451,000.
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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