Proofpoint (PFPT) : The traders have covered their outstanding shorts in Proofpoint (PFPT) to the tune of -432,666 shares, a change of -6.3%. As on Jul 29, 2016, the outstanding shorts on the stock were 6,899,992 shares, however, by August 15, 2016, the shorts had reduced to 6,467,326 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 15.9% of the free float of the stock. It takes 15 days to cover the outstanding short positions. The stock has an average daily volume of 445,147 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Proofpoint (NASDAQ:PFPT): The stock opened at $76.20 on Wednesday but the bulls could not build on the opening and the stock topped out at $76.99 for the day. The stock traded down to $75.30 during the day, due to lack of any buying support eventually closed down at $75.74 with a loss of -0.98% for the day. The stock had closed at $76.49 on the previous day. The total traded volume was 274,035 shares.
In a related news, The Securities and Exchange Commission has divulged that Newell Tracey, officer (EVP, Worldwide Sales) of Proofpoint Inc, had unloaded 20,000 shares at an average price of $75.09 in a transaction dated on August 17, 2016. The total value of the transaction was worth $1,501,800.
Proofpoint, Inc. is a security-as-a-service provider that provides data protection solutions for large and mid-sized organizations around the world. The Companys security-as-a-service platform consists of a suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication. The Company provides a multi-tiered security-as-a-service platform, comprising solutions, platform technologies and infrastructure. Its security-as-a-service platform offers a bundle of five solutions: Proofpoint Enterprise Protection, Proofpoint Enterprise Privacy, Proofpoint Enterprise Archive & Governance, Proofpoint Nexgate Social Media Security & Compliance, and Proofpoint Essentials. Its platforms services include content inspection, reputation, encryption and key management, notification and workflow, and analytics and search.