Proofpoint (NASDAQ:PFPT) had its price target upped by stock analysts at Piper Sandler from $140.00 to $150.00 in a note issued to investors on Friday, The Fly reports. The brokerage currently has an “overweight” rating on the software maker’s stock. Piper Sandler’s price target suggests a potential upside of 29.68% from the company’s current price.
Other equities research analysts have also recently issued research reports about the stock. Cowen lowered their price objective on shares of Proofpoint from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, April 21st. Citigroup raised their price objective on shares of Proofpoint from $147.00 to $166.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Oppenheimer restated a “hold” rating on shares of Proofpoint in a research report on Friday, May 8th. Robert W. Baird reiterated a “buy” rating on shares of Proofpoint in a research report on Friday. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Proofpoint in a research report on Thursday, July 23rd. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $142.68.
PFPT stock traded down $9.60 during trading on Friday, hitting $115.67. 2,799,225 shares of the stock traded hands, compared to its average volume of 621,516. Proofpoint has a one year low of $83.81 and a one year high of $133.58. The company has a 50 day simple moving average of $114.22 and a 200 day simple moving average of $115.53. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.43.
In other Proofpoint news, EVP Robert Darren Lee sold 1,727 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $115.22, for a total transaction of $198,984.94. Following the transaction, the executive vice president now directly owns 6,094 shares in the company, valued at approximately $702,150.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Knight sold 2,500 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $115.80, for a total value of $289,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 78,892 shares of company stock valued at $9,347,982. 2.93% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the business. Wellington Management Group LLP bought a new position in Proofpoint during the 1st quarter valued at $24,214,000. Diversified Trust Co lifted its stake in Proofpoint by 36.5% during the 2nd quarter. Diversified Trust Co now owns 2,900 shares of the software maker’s stock valued at $322,000 after acquiring an additional 775 shares in the last quarter. Jennison Associates LLC lifted its stake in Proofpoint by 0.7% during the 1st quarter. Jennison Associates LLC now owns 603,515 shares of the software maker’s stock valued at $61,915,000 after acquiring an additional 4,456 shares in the last quarter. Swiss National Bank raised its stake in shares of Proofpoint by 2.0% during the 1st quarter. Swiss National Bank now owns 109,452 shares of the software maker’s stock worth $11,229,000 after purchasing an additional 2,100 shares during the period. Finally, Baird Financial Group Inc. raised its stake in shares of Proofpoint by 343.9% during the 1st quarter. Baird Financial Group Inc. now owns 12,437 shares of the software maker’s stock worth $1,276,000 after purchasing an additional 9,635 shares during the period. Institutional investors and hedge funds own 94.59% of the company’s stock.
Proofpoint, Inc operates as a security-as-a-service 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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