Insider Selling: Proofpoint Inc (NASDAQ:PFPT) CEO Sells 20,000 Shares of Stock

Proofpoint Inc (NASDAQ:PFPT) CEO Gary Steele sold 20,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $108.87, for a total transaction of $2,177,400.00. Following the completion of the transaction, the chief executive officer now directly owns 120,005 shares of the company’s stock, valued at approximately $13,064,944.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

  • On Wednesday, May 15th, Gary Steele sold 20,000 shares of Proofpoint stock. The shares were sold at an average price of $118.93, for a total transaction of $2,378,600.00.
  • On Tuesday, April 9th, Gary Steele sold 20,000 shares of Proofpoint stock. The shares were sold at an average price of $120.03, for a total transaction of $2,400,600.00.
  • On Thursday, March 14th, Gary Steele sold 20,000 shares of Proofpoint stock. The shares were sold at an average price of $122.16, for a total transaction of $2,443,200.00.

PFPT stock traded down $0.37 during trading hours on Thursday, reaching $109.48. The stock had a trading volume of 6,053 shares, compared to its average volume of 450,826. The stock has a market cap of $6.08 billion, a P/E ratio of -95.21 and a beta of 1.75. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.79 and a quick ratio of 0.79. Proofpoint Inc has a fifty-two week low of $75.92 and a fifty-two week high of $131.43.

Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings results on Thursday, April 25th. The software maker reported ($0.33) EPS for the quarter, meeting analysts’ consensus estimates of ($0.33). The firm had revenue of $202.90 million during the quarter, compared to analysts’ expectations of $199.32 million. Proofpoint had a negative net margin of 15.82% and a negative return on equity of 13.93%. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 earnings per share. As a group, equities research analysts anticipate that Proofpoint Inc will post -0.82 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of PFPT. Manchester Capital Management LLC acquired a new stake in Proofpoint in the 1st quarter worth about $56,000. Rehmann Capital Advisory Group raised its stake in Proofpoint by 72.0% in the 1st quarter. Rehmann Capital Advisory Group now owns 786 shares of the software maker’s stock worth $95,000 after purchasing an additional 329 shares in the last quarter. AdvisorNet Financial Inc raised its stake in Proofpoint by 88.7% in the 4th quarter. AdvisorNet Financial Inc now owns 1,170 shares of the software maker’s stock worth $98,000 after purchasing an additional 550 shares in the last quarter. Cresset Asset Management LLC acquired a new stake in Proofpoint in the 1st quarter worth about $172,000. Finally, Riverhead Capital Management LLC raised its stake in Proofpoint by 10.4% in the 1st quarter. Riverhead Capital Management LLC now owns 1,693 shares of the software maker’s stock worth $205,000 after purchasing an additional 160 shares in the last quarter. Institutional investors own 95.50% of the company’s stock.

A number of research analysts recently weighed in on PFPT shares. Piper Jaffray Companies raised their target price on shares of Proofpoint from $120.00 to $136.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Mizuho started coverage on shares of Proofpoint in a research report on Tuesday, March 26th. They issued a “neutral” rating and a $120.00 target price for the company. Wedbush reaffirmed an “outperform” rating and issued a $138.00 target price (up previously from $130.00) on shares of Proofpoint in a research report on Friday, April 26th. KeyCorp raised their target price on shares of Proofpoint from $120.00 to $136.00 and gave the company an “overweight” rating in a research report on Monday, February 25th. Finally, Morgan Stanley set a $142.00 target price on shares of Proofpoint and gave the company a “buy” rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Proofpoint presently has an average rating of “Buy” and an average price target of $131.30.

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About Proofpoint

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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