A number of other equities analysts have also weighed in on PFPT. UBS AG assumed coverage on Proofpoint in a research note on Tuesday. They issued a market perform rating on the stock. Royal Bank Of Canada reiterated a buy rating and issued a $103.00 price objective on shares of Proofpoint in a report on Thursday, August 31st. Imperial Capital reiterated an outperform rating and issued a $102.00 price objective (up from $100.00) on shares of Proofpoint in a report on Wednesday, August 2nd. Cowen and Company started coverage on Proofpoint in a report on Thursday, August 17th. They issued an outperform rating and a $105.00 price objective for the company. Finally, BidaskClub upgraded Proofpoint from a hold rating to a buy rating in a report on Friday, August 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $101.70.
Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, October 19th. The software maker reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.07. The business had revenue of $134.30 million for the quarter, compared to analyst estimates of $131.48 million. Proofpoint had a negative return on equity of 152.53% and a negative net margin of 20.19%. The company’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 EPS.
In other news, EVP Tracey Newell sold 8,183 shares of the firm’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $94.82, for a total value of $775,912.06. Following the transaction, the executive vice president now directly owns 25,001 shares in the company, valued at approximately $2,370,594.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gary Steele sold 40,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $89.54, for a total value of $3,581,600.00. Following the completion of the transaction, the chief executive officer now owns 88,551 shares in the company, valued at $7,928,856.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,549 shares of company stock worth $15,226,339. Company insiders own 6.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Proofpoint by 9.7% during the second quarter. BlackRock Inc. now owns 3,503,427 shares of the software maker’s stock valued at $304,204,000 after purchasing an additional 309,998 shares in the last quarter. Vanguard Group Inc. lifted its position in Proofpoint by 2.3% during the second quarter. Vanguard Group Inc. now owns 3,392,578 shares of the software maker’s stock valued at $294,577,000 after purchasing an additional 77,721 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in Proofpoint by 20.4% during the second quarter. Artisan Partners Limited Partnership now owns 2,786,122 shares of the software maker’s stock valued at $241,919,000 after purchasing an additional 472,407 shares in the last quarter. FMR LLC lifted its position in Proofpoint by 10.9% during the second quarter. FMR LLC now owns 961,745 shares of the software maker’s stock valued at $83,508,000 after purchasing an additional 94,545 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its position in Proofpoint by 13.0% during the second quarter. Macquarie Group Ltd. now owns 942,966 shares of the software maker’s stock valued at $81,878,000 after purchasing an additional 108,772 shares in the last quarter.
Proofpoint Company Profile
Proofpoint, Inc is a security-as-a-service provider that enables large and mid-sized organizations to defend, protect, archive and govern their sensitive data. The Company’s security-as-a-service platform consists of an integrated suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication.
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