Palo Alto Networks Inc (NYSE:PANW) CEO Mark D. Mclaughlin sold 35,000 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $149.50, for a total value of $5,232,500.00. Following the completion of the sale, the chief executive officer now owns 348,901 shares in the company, valued at approximately $52,160,699.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Palo Alto Networks Inc (PANW) traded down $0.64 during trading on Friday, hitting $153.52. The company had a trading volume of 1,290,356 shares, compared to its average volume of 1,066,584. Palo Alto Networks Inc has a 12-month low of $107.31 and a 12-month high of $157.65. The firm has a market capitalization of $14,110.00, a P/E ratio of -62.41 and a beta of 0.99.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.06. Palo Alto Networks had a negative return on equity of 15.77% and a negative net margin of 11.97%. The company had revenue of $505.50 million during the quarter, compared to the consensus estimate of $489.36 million. During the same period in the previous year, the company posted $0.55 earnings per share. Palo Alto Networks’s revenue for the quarter was up 27.0% on a year-over-year basis. equities analysts expect that Palo Alto Networks Inc will post -0.37 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in PANW. Sun Life Financial INC lifted its holdings in Palo Alto Networks by 785.0% in the second quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock valued at $134,000 after acquiring an additional 887 shares during the period. Penserra Capital Management LLC acquired a new position in Palo Alto Networks in the third quarter valued at approximately $162,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Palo Alto Networks by 495.2% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,232 shares of the network technology company’s stock valued at $178,000 after acquiring an additional 1,025 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Palo Alto Networks by 30.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock valued at $188,000 after acquiring an additional 322 shares during the period. Finally, Shelton Capital Management acquired a new position in Palo Alto Networks in the second quarter valued at approximately $201,000. 79.91% of the stock is owned by institutional investors.
PANW has been the topic of several research reports. Oppenheimer restated a “buy” rating and set a $173.00 price target on shares of Palo Alto Networks in a research note on Monday, September 18th. ValuEngine lowered Palo Alto Networks from a “hold” rating to a “sell” rating in a research note on Monday, September 18th. BidaskClub lowered Palo Alto Networks from a “hold” rating to a “sell” rating in a research note on Thursday, September 21st. Maxim Group reiterated a “buy” rating and issued a $195.00 target price (up previously from $168.00) on shares of Palo Alto Networks in a research note on Thursday, September 28th. Finally, Dougherty & Co lifted their target price on Palo Alto Networks from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, September 28th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty-two have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $164.89.
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Palo Alto Networks Company Profile
Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
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