Palo Alto Networks Inc (NYSE:PANW) CEO Mark D. Mclaughlin sold 35,000 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $149.50, for a total transaction of $5,232,500.00. Following the transaction, the chief executive officer now directly owns 348,901 shares in the company, valued at $52,160,699.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Palo Alto Networks Inc (NYSE PANW) traded down $0.60 during trading on Friday, reaching $157.22. 1,040,000 shares of the company were exchanged, compared to its average volume of 1,000,000. Palo Alto Networks Inc has a 52 week low of $107.31 and a 52 week high of $158.78. The company has a market cap of $14,450.00, a PE ratio of -63.91 and a beta of 0.99.
Palo Alto Networks (NYSE:PANW) last issued its earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share for the quarter, topping 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 business had revenue of $505.50 million during the quarter, compared to analyst estimates of $489.36 million. During the same quarter in the previous year, the firm earned $0.55 EPS. Palo Alto Networks’s revenue was up 27.0% on a year-over-year basis. sell-side analysts forecast that Palo Alto Networks Inc will post -0.37 EPS for the current year.
A number of large investors have recently modified their holdings of PANW. Schwab Charles Investment Management Inc. raised its position in Palo Alto Networks by 8.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 153,838 shares of the network technology company’s stock worth $20,586,000 after buying an additional 11,488 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Palo Alto Networks by 14.9% during the 2nd quarter. Prudential Financial Inc. now owns 6,000 shares of the network technology company’s stock valued at $803,000 after purchasing an additional 780 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of Palo Alto Networks by 67.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 89,415 shares of the network technology company’s stock valued at $11,965,000 after purchasing an additional 35,996 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Palo Alto Networks by 1.2% during the 2nd quarter. Principal Financial Group Inc. now owns 5,590 shares of the network technology company’s stock valued at $748,000 after purchasing an additional 68 shares during the last quarter. Finally, Cipher Capital LP purchased a new stake in shares of Palo Alto Networks during the 2nd quarter valued at about $1,163,000. 79.98% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on the stock. Oppenheimer reaffirmed a “buy” rating and issued a $180.00 target price (up from $173.00) on shares of Palo Alto Networks in a research note on Tuesday, November 21st. Zacks Investment Research downgraded shares of Palo Alto Networks from a “hold” rating to a “sell” rating in a research note on Monday, November 13th. Northland Securities set a $175.00 target price on shares of Palo Alto Networks and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Telsey Advisory Group lifted their target price on shares of Palo Alto Networks from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 22nd. Finally, Sanford C. Bernstein lifted their target price on shares of Palo Alto Networks from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 21st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirty-three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $165.74.
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About Palo Alto Networks
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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