Proofpoint Inc. (NASDAQ:PFPT) shares reached a new 52-week high during trading on Monday . The company traded as high as $77.16 and last traded at $76.71, with a volume of 234,249 shares. The stock had previously closed at $74.88.

A number of research analysts recently commented on the company. Needham & Company LLC assumed coverage on Proofpoint in a report on Monday, August 1st. They issued a “buy” rating and a $88.00 price target on the stock. Wunderlich boosted their price target on Proofpoint from $67.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, June 9th. Zacks Investment Research raised Proofpoint from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Thursday, April 28th. Summit Redstone started coverage on Proofpoint in a research note on Tuesday. They issued a “buy” rating and a $90.00 price objective on the stock. Finally, Citigroup Inc. reaffirmed a “buy” rating on shares of Proofpoint in a research note on Wednesday, June 29th. One equities research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $79.19.

The stock’s market capitalization is $3.18 billion. The firm has a 50 day moving average of $70.24 and a 200 day moving average of $57.54.

Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.13. The company had revenue of $89.90 million for the quarter, compared to analysts’ expectations of $84.22 million. On average, equities analysts predict that Proofpoint Inc. will post $0.09 earnings per share for the current fiscal year.

In related news, CEO Gary Steele sold 20,000 shares of Proofpoint stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $57.28, for a total transaction of $1,145,600.00. Following the transaction, the chief executive officer now owns 31,163 shares in the company, valued at $1,785,016.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Robert Darren Lee sold 2,000 shares of Proofpoint stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $76.05, for a total value of $152,100.00. Following the transaction, the senior vice president now owns 1,239 shares in the company, valued at approximately $94,225.95. The disclosure for this sale can be found here.

A number of institutional investors recently made changes to their positions in the company. Alta Park Capital LP bought a new position in shares of Proofpoint during the fourth quarter worth approximately $3,313,000. Jennison Associates LLC boosted its stake in Proofpoint by 12.4% in the fourth quarter. Jennison Associates LLC now owns 422,129 shares of the company’s stock valued at $27,443,000 after buying an additional 46,580 shares during the period. Advisors Asset Management Inc. boosted its stake in Proofpoint by 812.3% in the fourth quarter. Advisors Asset Management Inc. now owns 33,227 shares of the company’s stock valued at $2,160,000 after buying an additional 29,585 shares during the period. Finally, Airain ltd acquired a new stake in Proofpoint during the fourth quarter valued at about $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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