Proofpoint Sees Unusually Large Options Volume (PFPT)
Proofpoint Inc (NASDAQ:PFPT) saw some unusual options trading activity on Tuesday. Stock traders purchased 2,202 call options on the company. This represents an increase of 3,091% compared to the typical volume of 69 call options.
In related news, Chairman Eric Hahn sold 5,000 shares of the stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $93.91, for a total value of $469,550.00. Following the completion of the sale, the chairman now owns 33,001 shares in the company, valued at $3,099,123.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Tracey Newell sold 8,183 shares of the stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $94.82, for a total transaction of $775,912.06. Following the completion of the sale, the executive vice president now owns 25,001 shares of the company’s stock, valued at approximately $2,370,594.82. The disclosure for this sale can be found here. Insiders have sold 165,549 shares of company stock valued at $14,886,352 over the last 90 days. Corporate insiders own 5.96% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its holdings in shares of Proofpoint by 13.5% during the third quarter. Public Employees Retirement System of Ohio now owns 22,870 shares of the software maker’s stock worth $1,995,000 after buying an additional 2,728 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Proofpoint during the third quarter worth approximately $317,000. Sterling Capital Management LLC increased its holdings in shares of Proofpoint by 21.3% during the third quarter. Sterling Capital Management LLC now owns 40,636 shares of the software maker’s stock worth $3,544,000 after buying an additional 7,139 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Proofpoint by 1.0% during the third quarter. Neuberger Berman Group LLC now owns 297,459 shares of the software maker’s stock worth $25,944,000 after buying an additional 3,051 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of Proofpoint by 2.5% during the third quarter. California Public Employees Retirement System now owns 89,319 shares of the software maker’s stock worth $7,790,000 after buying an additional 2,219 shares in the last quarter.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Thursday, October 19th. The software maker reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.07. The firm had revenue of $134.30 million during the quarter, compared to analyst estimates of $131.48 million. Proofpoint had a negative net margin of 20.19% and a negative return on equity of 158.19%. The company’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 earnings per share. analysts expect that Proofpoint will post -0.88 EPS for the current fiscal year.
Several research firms recently weighed in on PFPT. Stifel Nicolaus set a $100.00 target price on shares of Proofpoint and gave the company a “buy” rating in a research note on Monday, October 16th. KeyCorp reiterated a “hold” rating on shares of Proofpoint in a research note on Tuesday, September 19th. Piper Jaffray Companies set a $100.00 target price on shares of Proofpoint and gave the company a “buy” rating in a research note on Sunday, October 15th. Wedbush reiterated an “outperform” rating and issued a $106.00 target price (down previously from $108.00) on shares of Proofpoint in a research note on Tuesday, December 5th. Finally, BidaskClub upgraded shares of Proofpoint from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Proofpoint has an average rating of “Buy” and an average target price of $102.48.
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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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