Proofpoint Inc (NASDAQ:PFPT) was the target of a large increase in short interest during the month of September. As of September 28th, there was short interest totalling 3,137,426 shares, an increase of 45.2% from the September 14th total of 2,160,928 shares. Based on an average daily trading volume, of 1,163,801 shares, the short-interest ratio is currently 2.7 days. Currently, 6.3% of the shares of the company are sold short.
A number of research analysts recently commented on the stock. Wedbush reiterated an “outperform” rating and issued a $136.00 price target on shares of Proofpoint in a research note on Wednesday, July 11th. BidaskClub lowered shares of Proofpoint from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. Zacks Investment Research lowered shares of Proofpoint from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Stifel Nicolaus upped their price target on shares of Proofpoint to $130.00 and gave the company a “buy” rating in a research note on Friday, July 27th. Finally, Monness Crespi & Hardt upped their price target on shares of Proofpoint from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, July 27th. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Proofpoint currently has an average rating of “Buy” and an average target price of $132.00.
NASDAQ PFPT opened at $101.06 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of -77.15 and a beta of 1.25. Proofpoint has a 12-month low of $82.61 and a 12-month high of $130.27.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings data on Thursday, July 26th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.09. The firm had revenue of $171.90 million during the quarter, compared to the consensus estimate of $169.46 million. Proofpoint had a negative net margin of 12.93% and a negative return on equity of 16.48%. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 EPS. On average, research analysts forecast that Proofpoint will post -1.18 EPS for the current fiscal year.
In related news, EVP Bhagwat Swaroop sold 1,634 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $117.93, for a total value of $192,697.62. Following the transaction, the executive vice president now owns 2,291 shares in the company, valued at approximately $270,177.63. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Paul R. Auvil III sold 40,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 79,528 shares in the company, valued at approximately $9,042,333.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,560 shares of company stock worth $27,215,422. 3.37% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Federated Investors Inc. PA boosted its holdings in Proofpoint by 181.1% in 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 during the period. Cerebellum GP LLC bought a new stake in shares of Proofpoint during the 2nd quarter worth approximately $163,000. World Asset Management Inc bought a new stake in shares of Proofpoint during the 2nd quarter worth approximately $205,000. CIBC Asset Management Inc bought a new stake in shares of Proofpoint during the 2nd quarter worth approximately $211,000. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Proofpoint during the 1st quarter worth approximately $216,000. 95.23% of the stock is owned by hedge funds and other institutional investors.
Proofpoint Company Profile
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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