Proofpoint (NASDAQ:PFPT)‘s stock had its “outperform” rating restated by investment analysts at William Blair in a research report issued to clients and investors on Wednesday.
PFPT has been the subject of several other research reports. Piper Jaffray Companies reissued an “overweight” rating and set a $134.00 target price on shares of Proofpoint in a report on Friday, March 9th. Zacks Investment Research raised shares of Proofpoint from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a report on Wednesday, December 27th. Monness Crespi & Hardt raised their price target on shares of Proofpoint from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. TheStreet upgraded shares of Proofpoint from a “d” rating to a “c-” rating in a research report on Wednesday, February 7th. Finally, Cowen restated a “buy” rating on shares of Proofpoint in a research report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $109.67.
Proofpoint (NASDAQ PFPT) opened at $118.58 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. Proofpoint has a fifty-two week low of $70.30 and a fifty-two week high of $123.87. The stock has a market cap of $6,016.02, a price-to-earnings ratio of -62.08 and a beta of 1.31.
In other news, EVP Tracey Newell sold 8,183 shares of Proofpoint stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $91.24, for a total value of $746,616.92. Following the sale, the executive vice president now owns 25,001 shares in the company, valued at $2,281,091.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Bhagwat Swaroop sold 900 shares of Proofpoint stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $98.86, for a total transaction of $88,974.00. Following the completion of the sale, the executive vice president now owns 4,077 shares in the company, valued at approximately $403,052.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 139,303 shares of company stock worth $13,511,751. Company insiders own 5.96% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Artisan Partners Limited Partnership grew its position in shares of Proofpoint by 8.1% in the third quarter. Artisan Partners Limited Partnership now owns 3,012,092 shares of the software maker’s stock valued at $262,715,000 after purchasing an additional 225,970 shares during the period. TIAA CREF Investment Management LLC boosted its position in Proofpoint by 25.2% during the fourth quarter. TIAA CREF Investment Management LLC now owns 1,348,936 shares of the software maker’s stock worth $119,799,000 after acquiring an additional 271,581 shares during the last quarter. Macquarie Group Ltd. boosted its position in Proofpoint by 3.9% during the fourth quarter. Macquarie Group Ltd. now owns 952,921 shares of the software maker’s stock worth $84,629,000 after acquiring an additional 35,818 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Proofpoint by 133.9% during the third quarter. JPMorgan Chase & Co. now owns 870,784 shares of the software maker’s stock worth $76,551,000 after acquiring an additional 498,462 shares during the last quarter. Finally, Wasatch Advisors Inc. boosted its position in Proofpoint by 8.5% during the third quarter. Wasatch Advisors Inc. now owns 790,258 shares of the software maker’s stock worth $68,926,000 after acquiring an additional 61,732 shares during the last quarter.
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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