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 Tuesday, August 26th. The stock was sold at an average price of $39.19, for a total value of $391,900.00. Following the transaction, the chairman now directly owns 414,972 shares in the company, valued at approximately $16,262,753. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Wells Fargo & Co. initiated coverage on shares of Proofpoint in a research note on Friday, August 8th. They set an “outperform” rating on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Proofpoint in a research note on Friday, July 25th. They now have a $47.00 price target on the stock, up previously from $46.00. Finally, analysts at Goldman Sachs initiated coverage on shares of Proofpoint in a research note on Wednesday, July 16th. They set a “buy” rating and a $42.00 price target on the stock. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $43.83.
Shares of Proofpoint (NASDAQ:PFPT) traded down 2.84% on Thursday, hitting $38.67. The stock had a trading volume of 308,888 shares. Proofpoint has a 52 week low of $24.04 and a 52 week high of $45.66. The stock’s 50-day moving average is $36.65 and its 200-day moving average is $35.54. The company’s market cap is $1.447 billion.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, July 24th. The company reported ($0.08) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.32 by $0.40. The company had revenue of $46.40 million for the quarter, compared to the consensus estimate of $112.54 million. Proofpoint’s revenue was up 45.9% compared to the same quarter last year. Analysts expect that Proofpoint will post $-0.39 EPS 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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