Shares of Proofpoint Inc (NASDAQ:PFPT) traded up 5% during mid-day trading on Wednesday . The company traded as high as $118.10 and last traded at $117.60, 2,556,986 shares traded hands during mid-day trading. An increase of 342% from the average session volume of 578,030 shares. The stock had previously closed at $111.99.

A number of equities research analysts have issued reports on the company. Stifel Nicolaus raised their target price on Proofpoint from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Wells Fargo & Co lifted their price objective on shares of Proofpoint from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Mizuho lifted their price objective on shares of Proofpoint from $120.00 to $128.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. JMP Securities lifted their price objective on shares of Proofpoint from $130.00 to $140.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Finally, Needham & Company LLC lifted their price objective on shares of Proofpoint from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $138.18.

The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 0.07. The firm’s 50-day simple moving average is $122.60 and its 200 day simple moving average is $119.29. The stock has a market capitalization of $6.48 billion, a P/E ratio of -102.26 and a beta of 1.66.

Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, July 25th. The software maker reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.07). Proofpoint had a negative return on equity of 11.24% and a negative net margin of 14.31%. The business had revenue of $214.40 million during the quarter, compared to the consensus estimate of $211.33 million. During the same quarter last year, the firm posted $0.26 earnings per share. Proofpoint’s revenue was up 24.7% compared to the same quarter last year. As a group, equities analysts anticipate that Proofpoint Inc will post -0.77 EPS for the current fiscal year.

In other Proofpoint news, EVP Bhagwat Swaroop sold 5,000 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $123.21, for a total value of $616,050.00. Following the sale, the executive vice president now directly owns 1,540 shares in the company, valued at $189,743.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Robert Darren Lee sold 2,615 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $107.83, for a total transaction of $281,975.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 84,885 shares of company stock worth $9,963,092. 2.93% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the business. Chartwell Investment Partners LLC grew its stake in Proofpoint by 65.9% during the 2nd quarter. Chartwell Investment Partners LLC now owns 60,954 shares of the software maker’s stock valued at $7,330,000 after acquiring an additional 24,205 shares in the last quarter. Magnetar Financial LLC grew its stake in Proofpoint by 23.0% during the 2nd quarter. Magnetar Financial LLC now owns 6,988 shares of the software maker’s stock valued at $840,000 after acquiring an additional 1,308 shares in the last quarter. Royal Bank of Canada grew its stake in Proofpoint by 29.1% during the 2nd quarter. Royal Bank of Canada now owns 38,816 shares of the software maker’s stock valued at $4,668,000 after acquiring an additional 8,745 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in Proofpoint by 15.9% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 264,359 shares of the software maker’s stock valued at $31,789,000 after acquiring an additional 36,196 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in Proofpoint by 9.0% during the 2nd quarter. California Public Employees Retirement System now owns 76,566 shares of the software maker’s stock valued at $9,207,000 after acquiring an additional 6,309 shares in the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

About Proofpoint (NASDAQ:PFPT)

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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