Mark D. Mclaughlin Sells 35,000 Shares of Palo Alto Networks Inc (NYSE:PANW) Stock

Palo Alto Networks Inc (NYSE:PANW) CEO Mark D. Mclaughlin sold 35,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $157.67, for a total value of $5,518,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Palo Alto Networks Inc (NYSE:PANW) opened at $155.25 on Tuesday. Palo Alto Networks Inc has a 1-year low of $107.31 and a 1-year high of $160.83. The stock has a market cap of $14,270.00, a price-to-earnings ratio of -63.11 and a beta of 1.04.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.06. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. The business had revenue of $505.50 million for the quarter, compared to analysts’ expectations of $489.36 million. During the same quarter in the previous year, the firm posted $0.55 EPS. The business’s revenue for the quarter was up 27.0% compared to the same quarter last year. equities analysts anticipate that Palo Alto Networks Inc will post -0.37 earnings per share for the current year.

A number of research analysts have recently commented on PANW shares. Oppenheimer reiterated a “buy” rating and issued a $180.00 price target (up from $173.00) on shares of Palo Alto Networks in a research note on Tuesday, November 21st. Zacks Investment Research lowered Palo Alto Networks from a “hold” rating to a “sell” rating in a research report on Monday, November 13th. Northland Securities set a $175.00 price objective on Palo Alto Networks and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Telsey Advisory Group lifted their price objective on Palo Alto Networks from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 22nd. Finally, Sanford C. Bernstein raised their target price on Palo Alto Networks from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, November 21st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirty-four have assigned a buy rating to the company. Palo Alto Networks has a consensus rating of “Buy” and a consensus price target of $167.39.

Hedge funds have recently modified their holdings of the business. American Century Companies Inc. grew its position in shares of Palo Alto Networks by 36.0% during the 3rd quarter. American Century Companies Inc. now owns 2,376,862 shares of the network technology company’s stock valued at $342,506,000 after purchasing an additional 629,523 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new position in shares of Palo Alto Networks during the 4th quarter valued at $70,582,000. Old Mutual Global Investors UK Ltd. purchased a new position in shares of Palo Alto Networks during the 4th quarter valued at $45,074,000. Ameriprise Financial Inc. grew its position in shares of Palo Alto Networks by 35.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,068,289 shares of the network technology company’s stock valued at $153,798,000 after purchasing an additional 279,602 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its position in shares of Palo Alto Networks by 229.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 285,691 shares of the network technology company’s stock valued at $41,168,000 after purchasing an additional 198,937 shares in the last quarter. 79.18% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: This piece was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this piece on another domain, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.dispatchtribunal.com/2018/02/13/palo-alto-networks-inc-panw-ceo-mark-d-mclaughlin-sells-35000-shares-of-stock.html.

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.

Insider Buying and Selling by Quarter for Palo Alto Networks (NYSE:PANW)

Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply