Proofpoint Inc. (NASDAQ:PFPT) shares reached a new 52-week high during mid-day trading 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.

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

The company’s 50 day moving average price is $72.96 and its 200 day moving average price is $59.14. The firm’s market capitalization is $3.25 billion.

Proofpoint (NASDAQ:PFPT) last posted its earnings results on Thursday, July 21st. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.13. The business had revenue of $89.90 million for the quarter, compared to analyst estimates of $84.22 million. On average, analysts expect that Proofpoint Inc. will post $0.09 EPS for the current year.

In other Proofpoint news, EVP David Knight sold 3,000 shares of the stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $76.35, for a total transaction of $229,050.00. Following the transaction, the executive vice president now directly owns 8,889 shares of the company’s stock, valued at $678,675.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Eric Hahn sold 5,000 shares of the stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $59.70, for a total transaction of $298,500.00. Following the transaction, the chairman now directly owns 118,164 shares in the company, valued at $7,054,390.80. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Proofpoint stock. Jennison Associates LLC raised its stake in Proofpoint Inc. (NASDAQ:PFPT) by 12.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 422,129 shares of the company’s stock after buying an additional 46,580 shares during the period. Jennison Associates LLC owned approximately 1.03% of Proofpoint worth $27,443,000 as of its most recent SEC filing.

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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