Insider Selling: Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Sells 125,866 Shares of Stock

Palo Alto Networks, Inc. (NASDAQ:PANWGet Free Report) EVP Lee Klarich sold 125,866 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $335.00, for a total value of $42,165,110.00. Following the completion of the sale, the executive vice president now owns 166,542 shares in the company, valued at approximately $55,791,570. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lee Klarich also recently made the following trade(s):

  • On Thursday, June 6th, Lee Klarich sold 800 shares of Palo Alto Networks stock. The stock was sold at an average price of $300.21, for a total value of $240,168.00.
  • On Monday, May 6th, Lee Klarich sold 121,276 shares of Palo Alto Networks stock. The stock was sold at an average price of $299.60, for a total value of $36,334,289.60.

Palo Alto Networks Trading Up 0.3 %

PANW traded up $0.88 during trading on Wednesday, hitting $337.06. The company’s stock had a trading volume of 2,010,552 shares, compared to its average volume of 4,696,071. Palo Alto Networks, Inc. has a twelve month low of $201.17 and a twelve month high of $380.84. The business’s fifty day simple moving average is $313.98 and its 200 day simple moving average is $308.92. The firm has a market capitalization of $109.14 billion, a price-to-earnings ratio of 48.38, a P/E/G ratio of 5.17 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last issued its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. As a group, equities research analysts forecast that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PANW. Daiwa Capital Markets began coverage on Palo Alto Networks in a research report on Wednesday, May 29th. They set an “outperform” rating and a $350.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and set a $345.00 price target on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Citigroup increased their price target on Palo Alto Networks from $335.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Royal Bank of Canada dropped their price target on Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 21st. Finally, DA Davidson assumed coverage on Palo Alto Networks in a research report on Friday, June 21st. They set a “buy” rating and a $380.00 price target on the stock. Twelve investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus target price of $326.29.

Read Our Latest Stock Report on Palo Alto Networks

Institutional Trading of Palo Alto Networks

Institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in Palo Alto Networks during the third quarter worth $771,000. Harbour Investments Inc. boosted its stake in Palo Alto Networks by 5.6% during the third quarter. Harbour Investments Inc. now owns 1,566 shares of the network technology company’s stock worth $367,000 after buying an additional 83 shares during the last quarter. Creative Planning boosted its stake in Palo Alto Networks by 21.3% during the third quarter. Creative Planning now owns 45,870 shares of the network technology company’s stock worth $10,754,000 after buying an additional 8,059 shares during the last quarter. Graham Capital Management L.P. acquired a new position in Palo Alto Networks during the third quarter worth $1,031,000. Finally, USA Financial Formulas acquired a new position in Palo Alto Networks during the third quarter worth $206,000. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Company Profile

(Get Free Report)

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.

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

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