Gary Steele Sells 20,000 Shares of Proofpoint Inc (PFPT) Stock

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Proofpoint Inc (NASDAQ:PFPT) CEO Gary Steele sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $118.93, for a total transaction of $2,378,600.00. Following the completion of the sale, the chief executive officer now directly owns 120,638 shares of the company’s stock, valued at $14,347,477.34. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

  • On Tuesday, April 9th, Gary Steele sold 20,000 shares of Proofpoint stock. The stock was 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 stock was sold at an average price of $122.16, for a total transaction of $2,443,200.00.

Shares of Proofpoint stock traded down $1.57 on Friday, hitting $119.97. 312,560 shares of the company traded hands, compared to its average volume of 592,015. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market cap of $6.66 billion, a P/E ratio of -104.32 and a beta of 1.79. Proofpoint Inc has a 12-month low of $75.92 and a 12-month high of $131.43.

Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings data on Thursday, April 25th. The software maker reported ($0.33) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.33). The firm had revenue of $202.90 million for 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 business’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the company posted $0.30 EPS. On average, analysts predict that Proofpoint Inc will post -0.82 earnings per share for the current year.

PFPT has been the subject of a number of recent analyst reports. Monness Crespi & Hardt upped their price objective on shares of Proofpoint from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 1st. Mizuho started coverage on shares of Proofpoint in a research report on Tuesday, March 26th. They set a “neutral” rating and a $120.00 target price for the company. Piper Jaffray Companies increased 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. Wedbush reissued an “outperform” rating and set a $138.00 target price (up from $130.00) on shares of Proofpoint in a research report on Friday, April 26th. Finally, KeyCorp increased 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $132.05.

Institutional investors have recently bought and sold shares of the company. MML Investors Services LLC raised its position in shares of Proofpoint by 0.9% during the 4th quarter. MML Investors Services LLC now owns 9,399 shares of the software maker’s stock valued at $788,000 after buying an additional 88 shares in the last quarter. Washington Capital Management Inc. purchased a new position in Proofpoint in the 1st quarter worth $528,000. Thornburg Investment Management Inc. raised its position in Proofpoint by 90.4% in the 4th quarter. Thornburg Investment Management Inc. now owns 123,938 shares of the software maker’s stock worth $10,387,000 after purchasing an additional 58,838 shares during the period. Great West Life Assurance Co. Can raised its position in Proofpoint by 13.1% in the 4th quarter. Great West Life Assurance Co. Can now owns 5,933 shares of the software maker’s stock worth $480,000 after purchasing an additional 686 shares during the period. Finally, Coronation Fund Managers Ltd. purchased a new position in Proofpoint in the 1st quarter worth $4,679,000. Hedge funds and other institutional investors own 94.79% of the company’s stock.

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Proofpoint Company Profile

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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