Insider Selling: Proofpoint, Inc. (PFPT) CEO Sells $3,694,000.00 in Stock

Proofpoint, Inc. (NASDAQ:PFPT) CEO Gary Steele sold 40,000 shares of Proofpoint stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $92.35, for a total transaction of $3,694,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Gary Steele also recently made the following trade(s):

  • On Thursday, September 14th, Gary Steele sold 40,000 shares of Proofpoint stock. The shares were sold at an average price of $88.60, for a total transaction of $3,544,000.00.
  • On Tuesday, August 22nd, Gary Steele sold 40,000 shares of Proofpoint stock. The shares were sold at an average price of $89.54, for a total transaction of $3,581,600.00.
  • On Wednesday, July 12th, Gary Steele sold 40,000 shares of Proofpoint stock. The shares were sold at an average price of $87.11, for a total transaction of $3,484,400.00.

Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings data on Thursday, July 27th. The software maker reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.05. The firm had revenue of $122.30 million for the quarter, compared to analysts’ expectations of $119.58 million. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.06 EPS.

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A number of research firms have recently commented on PFPT. Royal Bank Of Canada reissued a “buy” rating and issued a $103.00 price target on shares of Proofpoint in a research report on Thursday, August 31st. Imperial Capital reissued an “outperform” rating and issued a $102.00 price target (up previously from $100.00) on shares of Proofpoint in a research report on Wednesday, August 2nd. Cowen and Company began coverage on shares of Proofpoint in a research report on Thursday, August 17th. They issued an “outperform” rating and a $105.00 price target on the stock. BidaskClub raised shares of Proofpoint from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Finally, Macquarie reissued an “outperform” rating and issued a $103.00 price target on shares of Proofpoint in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $99.08.

A number of hedge funds have recently bought and sold shares of PFPT. Comerica Bank bought a new position in Proofpoint during the 1st quarter worth $1,001,000. Karp Capital Management Corp bought a new position in Proofpoint during the 1st quarter worth $223,000. Envestnet Asset Management Inc. increased its position in Proofpoint by 18.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,897 shares of the software maker’s stock worth $215,000 after buying an additional 446 shares during the period. American International Group Inc. increased its position in Proofpoint by 5.2% during the 1st quarter. American International Group Inc. now owns 24,709 shares of the software maker’s stock worth $1,837,000 after buying an additional 1,229 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in Proofpoint by 66.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 10,863 shares of the software maker’s stock worth $807,000 after buying an additional 4,340 shares during the period.

About Proofpoint

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.

Insider Buying and Selling by Quarter for Proofpoint (NASDAQ:PFPT)

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