Proofpoint (PFPT) Receives Buy Rating from Monness Crespi & Hardt
Proofpoint (NASDAQ:PFPT)‘s stock had its “buy” rating reaffirmed by stock analysts at Monness Crespi & Hardt in a research note issued to investors on Friday, MarketBeat reports. They currently have a $120.00 price target on the software maker’s stock, up from their previous price target of $115.00. Monness Crespi & Hardt’s target price suggests a potential upside of 6.52% from the stock’s previous close.
A number of other research analysts have also issued reports on the stock. Evercore ISI restated a “buy” rating and set a $105.00 price target on shares of Proofpoint in a research note on Wednesday, November 22nd. Robert W. Baird restated a “hold” rating and set a $100.00 price target on shares of Proofpoint in a research note on Tuesday, November 7th. Zacks Investment Research lowered shares of Proofpoint from a “buy” rating to a “hold” rating in a research note on Thursday, December 28th. Wedbush restated an “outperform” rating and set a $108.00 price target on shares of Proofpoint in a research note on Wednesday, January 3rd. Finally, BidaskClub upgraded shares of Proofpoint from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Proofpoint presently has an average rating of “Buy” and an average price target of $108.92.
Proofpoint (NASDAQ PFPT) traded up $1.61 during midday trading on Friday, hitting $112.66. 105,864 shares of the company traded hands, compared to its average volume of 555,662. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.07. The company has a market cap of $4,980.00, a price-to-earnings ratio of -56.66 and a beta of 1.31. Proofpoint has a 1 year low of $70.30 and a 1 year high of $112.92.
In other news, SVP Robert Darren Lee sold 18,139 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $97.73, for a total value of $1,772,724.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gary Steele sold 40,000 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $86.28, for a total transaction of $3,451,200.00. Following the completion of the sale, the chief executive officer now owns 88,551 shares in the company, valued at approximately $7,640,180.28. The disclosure for this sale can be found here. Insiders sold 187,303 shares of company stock worth $17,637,911 in the last quarter. Company insiders own 5.96% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Artisan Partners Limited Partnership boosted its holdings in Proofpoint by 8.1% during the third quarter. Artisan Partners Limited Partnership now owns 3,012,092 shares of the software maker’s stock worth $262,715,000 after buying an additional 225,970 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings 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 buying an additional 271,581 shares in the last quarter. Macquarie Group Ltd. boosted its holdings 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 buying an additional 35,818 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Proofpoint by 133.9% during the third quarter. JPMorgan Chase & Co. now owns 870,784 shares of the software maker’s stock valued at $76,551,000 after purchasing an additional 498,462 shares in the last quarter. Finally, Wasatch Advisors Inc. lifted its holdings in Proofpoint by 8.5% during the third quarter. Wasatch Advisors Inc. now owns 790,258 shares of the software maker’s stock valued at $68,926,000 after purchasing an additional 61,732 shares in the last quarter.
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Proofpoint Company Profile
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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