Insider Selling: Eric Hahn Unloads 10,000 Shares of Proofpoint Stock (PFPT)
Proofpoint (NASDAQ:PFPT) Chairman Eric Hahn sold 10,000 shares of Proofpoint stock on the open market in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $26.66, for a total value of $266,600.00. Following the sale, the chairman now directly owns 444,972 shares in the company, valued at approximately $11,862,954. The sale was disclosed in a filing with the SEC, which is available at this link.
PFPT has been the subject of a number of recent research reports. Analysts at Imperial Capital cut their price target on shares of Proofpoint from $45.00 to $40.00 in a research note on Friday, May 2nd. They now have an “outperform” rating on the stock. Separately, analysts at Citigroup Inc. initiated coverage on shares of Proofpoint in a research note on Friday, April 4th. They set a “buy” rating and a $46.00 price target on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of Proofpoint from $47.00 to $49.00 in a research note on Monday, March 10th. They now have an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $43.30.
Shares of Proofpoint (NASDAQ:PFPT) traded up 6.93% during mid-day trading on Monday, hitting $30.47. The stock had a trading volume of 910,393 shares. Proofpoint has a 1-year low of $18.16 and a 1-year high of $45.66. The stock has a 50-day moving average of $30.36 and a 200-day moving average of $34.10. The company’s market cap is $1.127 billion.
Proofpoint (NASDAQ:PFPT) last announced its earnings results on Wednesday, April 30th. The company reported ($0.12) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.18) by $0.06. The company had revenue of $42.70 million for the quarter, compared to the consensus estimate of $40.70 million. On average, analysts predict that Proofpoint will post $-0.43 earnings per share for the current fiscal year.
Proofpoint, Inc (NASDAQ:PFPT) is a security-as-a-service vendor that delivers data protection solutions, which helps medium- and large-sized organizations worldwide.
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