Insider Selling: Proofpoint Inc (PFPT) CEO Sells $4,765,500.00 in Stock

Proofpoint Inc (NASDAQ:PFPT) CEO Gary Steele sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $95.31, for a total transaction of $4,765,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Gary Steele also recently made the following trade(s):

  • On Thursday, October 4th, Gary Steele sold 50,000 shares of Proofpoint stock. The shares were sold at an average price of $98.64, for a total transaction of $4,932,000.00.
  • On Tuesday, September 4th, Gary Steele sold 100,000 shares of Proofpoint stock. The shares were sold at an average price of $62.54, for a total transaction of $6,254,000.00.

PFPT stock opened at $97.01 on Monday. Proofpoint Inc has a 12-month low of $75.92 and a 12-month high of $130.27. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of -74.05 and a beta of 1.42.

Proofpoint (NASDAQ:PFPT) last released its earnings results on Thursday, October 25th. The software maker reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.73. Proofpoint had a negative net margin of 14.08% and a negative return on equity of 11.86%. The company had revenue of $184.18 million during the quarter, compared to the consensus estimate of $181.69 million. As a group, equities analysts expect that Proofpoint Inc will post -1.14 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Baird Financial Group Inc. increased its stake in shares of Proofpoint by 36.6% during the 2nd quarter. Baird Financial Group Inc. now owns 15,032 shares of the software maker’s stock worth $1,733,000 after purchasing an additional 4,031 shares during the last quarter. Essex Investment Management Co. LLC increased its stake in shares of Proofpoint by 2.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 36,647 shares of the software maker’s stock worth $3,897,000 after purchasing an additional 824 shares during the last quarter. Handelsbanken Fonder AB increased its stake in shares of Proofpoint by 18.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 90,000 shares of the software maker’s stock worth $9,570,000 after purchasing an additional 14,000 shares during the last quarter. Dupont Capital Management Corp increased its stake in shares of Proofpoint by 39.4% during the 3rd quarter. Dupont Capital Management Corp now owns 6,590 shares of the software maker’s stock worth $701,000 after purchasing an additional 1,862 shares during the last quarter. Finally, Oak Ridge Investments LLC acquired a new position in shares of Proofpoint during the 2nd quarter worth $3,037,000. Institutional investors own 90.71% of the company’s stock.

Several equities research analysts recently commented on the stock. Morgan Stanley reduced their price target on shares of Proofpoint from $134.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, October 29th. BidaskClub upgraded shares of Proofpoint from a “hold” rating to a “buy” rating in a research report on Thursday, August 9th. Deutsche Bank downgraded shares of Proofpoint from a “buy” rating to a “hold” rating and reduced their price target for the company from $125.00 to $95.00 in a research report on Friday, October 26th. Robert W. Baird restated an “outperform” rating on shares of Proofpoint in a research report on Thursday, October 18th. Finally, Goldman Sachs Group upgraded shares of Proofpoint from a “neutral” rating to a “buy” rating and set a $114.00 price target for the company in a research report on Monday, October 29th. Three equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Proofpoint has a consensus rating of “Buy” and an average price target of $125.05.

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Proofpoint Company Profile

Proofpoint, Inc operates as a security-as-a-service (SaaS) provider that enables large and mid-sized organizations to defend, protect, archive, and govern their sensitive data worldwide. It offers protection against advanced and targeted threats, including malicious attachments, polymorphic threats, zero-day exploits, user-transparent ‘drive-by' downloads, malicious Web links, hybrid threats, malware free attacks, and other penetration tactics.

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Insider Buying and Selling by Quarter for Proofpoint (NASDAQ:PFPT)

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