Proofpoint (NASDAQ:PFPT) had its price objective dropped by Monness Crespi & Hardt from $140.00 to $115.00 in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the software maker’s stock. Monness Crespi & Hardt’s price target would indicate a potential upside of 37.65% from the company’s previous close.
Several other research analysts have also commented on PFPT. Wedbush reiterated an “outperform” rating and set a $136.00 price objective on shares of Proofpoint in a research note on Wednesday, July 11th. Zacks Investment Research lowered shares of Proofpoint from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. BidaskClub upgraded shares of Proofpoint from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Royal Bank of Canada reiterated a “buy” rating and set a $140.00 price objective on shares of Proofpoint in a research note on Friday, July 27th. Finally, Stifel Nicolaus boosted their price objective on shares of Proofpoint to $130.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $126.10.
Shares of NASDAQ:PFPT traded down $15.44 during trading hours on Friday, hitting $83.55. The company’s stock had a trading volume of 7,406,047 shares, compared to its average volume of 1,086,458. Proofpoint has a 52 week low of $75.92 and a 52 week high of $130.27. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $4.28 billion, a P/E ratio of -63.77 and a beta of 1.24.
In other Proofpoint news, CFO Paul R. Auvil III sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $113.70, for a total transaction of $4,548,000.00. Following the transaction, the chief financial officer now owns 79,528 shares in the company, valued at approximately $9,042,333.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary Steele sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $98.64, for a total transaction of $4,932,000.00. Following the transaction, the chief executive officer now owns 154,960 shares in the company, valued at approximately $15,285,254.40. The disclosure for this sale can be found here. Insiders have sold a total of 288,560 shares of company stock worth $27,215,422 in the last 90 days. 5.96% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of PFPT. Federated Investors Inc. PA increased its stake in Proofpoint by 181.1% during the 2nd quarter. Federated Investors Inc. PA now owns 1,386 shares of the software maker’s stock valued at $160,000 after purchasing an additional 893 shares in the last quarter. Cerebellum GP LLC purchased a new stake in shares of Proofpoint in the 2nd quarter valued at $163,000. World Asset Management Inc purchased a new stake in shares of Proofpoint in the 2nd quarter valued at $205,000. CIBC Asset Management Inc purchased a new stake in shares of Proofpoint in the 2nd quarter valued at $211,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Proofpoint in the 1st quarter valued at $216,000. Institutional investors and hedge funds own 95.48% of the company’s stock.
Proofpoint, Inc operates as a security-as-a-service (SaaS) provider that enables large and mid-sized organizations to defend, protect, archive, and govern their sensitive data worldwide. It offers protection against advanced and targeted threats, including malicious attachments, polymorphic threats, zero-day exploits, user-transparent drive-by' downloads, malicious Web links, hybrid threats, malware free attacks, and other penetration tactics.
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