Insider Selling: Proofpoint CEO Sells 20,000 Shares of Stock (PFPT)
Proofpoint (NASDAQ:PFPT) CEO Gary Steele sold 20,000 shares of the company’s stock on the open market in a transaction dated Thursday, October 17th. The stock was sold at an average price of $29.44, for a total transaction of $588,800.00. Following the sale, the chief executive officer now directly owns 221,689 shares of the company’s stock, valued at approximately $6,526,524. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Proofpoint from $30.00 to $35.00 in a research note to investors on Thursday, October 3rd. They now have an “outperform” rating on the stock. Separately, analysts at Imperial Capital raised their price target on shares of Proofpoint from $33.00 to $34.00 in a research note to investors on Thursday, October 3rd. They now have an “outperform” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Proofpoint in a research note to investors on Wednesday, October 2nd. They now have a $35.00 price target on the stock, up previously from $32.00. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Proofpoint presently has a consensus rating of “Buy” and an average price target of $28.06.
Proofpoint (NASDAQ:PFPT) traded up 1.36% on Thursday, hitting $29.77. The stock had a trading volume of 129,896 shares. Proofpoint has a 1-year low of $9.77 and a 1-year high of $33.15. The stock has a 50-day moving average of $29.8 and a 200-day moving average of $24.23. The company’s market cap is $1.051 billion.
Proofpoint, Inc (NASDAQ:PFPT) is a security-as-a-service vendor that delivers data protection solutions, which helps medium- and large-sized organizations worldwide.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.