Proofpoint Inc. (NASDAQ:PFPT) shares reached a new 52-week high on Friday . The company traded as high as $77.76 and last traded at $77.17, with a volume of 203,401 shares traded. The stock had previously closed at $76.50.

A number of research analysts have weighed in on the stock. Summit Redstone assumed coverage on shares of Proofpoint in a research report on Tuesday, August 16th. They set a “buy” rating and a $90.00 target price for the company. Summit Redstone Partners set a $90.00 price objective on shares of Proofpoint and gave the company a “buy” rating in a research report on Tuesday, August 16th. Rosenblatt Securities assumed coverage on shares of Proofpoint in a research report on Monday, August 1st. They set a “buy” rating and a $95.00 price objective for the company. FBR & Co reaffirmed an “outperform” rating on shares of Proofpoint in a research report on Thursday. Finally, Needham & Company LLC assumed coverage on shares of Proofpoint in a research report on Monday, August 1st. They set a “buy” rating and a $88.00 price objective for the company. One investment analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $79.19.

The firm’s market cap is $3.23 billion. The firm’s 50-day moving average is $72.61 and its 200 day moving average is $58.85.

Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.13. The business earned $89.90 million during the quarter, compared to analyst estimates of $84.22 million. Equities research analysts predict that Proofpoint Inc. will post $0.09 EPS for the current fiscal year.

In other news, CEO Gary Steele sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $63.85, for a total value of $1,277,000.00. Following the completion of the transaction, the chief executive officer now directly owns 31,163 shares in the company, valued at approximately $1,989,757.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dana L. Evan sold 1,500 shares of the business’s 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.

An institutional investor recently raised its position in Proofpoint stock. Jennison Associates LLC boosted its stake in shares of Proofpoint Inc. (NASDAQ:PFPT) by 12.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 422,129 shares of the company’s stock after buying an additional 46,580 shares during the period. Jennison Associates LLC owned about 1.03% of Proofpoint worth $27,443,000 at the end of the most recent 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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