Insider Selling: Palo Alto Networks Inc. (PANW) President Sells $2,943,548.30 in Stock
Palo Alto Networks Inc. (NYSE:PANW) President Mark Anderson sold 19,210 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $153.23, for a total value of $2,943,548.30. Following the completion of the sale, the president now owns 273,202 shares in the company, valued at approximately $41,862,742.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Mark Anderson also recently made the following trade(s):
- On Wednesday, September 21st, Mark Anderson sold 2,202 shares of Palo Alto Networks stock. The shares were sold at an average price of $148.98, for a total value of $328,053.96.
Shares of Palo Alto Networks Inc. (NYSE:PANW) opened at 159.33 on Monday. The firm’s market cap is $14.48 billion. Palo Alto Networks Inc. has a 52 week low of $111.09 and a 52 week high of $194.73. The firm has a 50-day moving average price of $144.53 and a 200-day moving average price of $139.47.
Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Tuesday, August 30th. The network technology company reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. Palo Alto Networks had a negative return on equity of 34.28% and a negative net margin of 16.39%. The firm earned $400.80 million during the quarter, compared to analysts’ expectations of $389.90 million. During the same period in the prior year, the business earned $0.28 EPS. The company’s revenue for the quarter was up 41.2% compared to the same quarter last year. On average, equities research analysts predict that Palo Alto Networks Inc. will post $2.78 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of PANW. Nomura Asset Management Co. Ltd. boosted its position in Palo Alto Networks by 2.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 7,540 shares of the network technology company’s stock worth $1,328,000 after buying an additional 160 shares during the last quarter. Norges Bank bought a new stake in Palo Alto Networks during the fourth quarter worth $51,647,000. Aperio Group LLC raised its stake in Palo Alto Networks by 1.5% in the first quarter. Aperio Group LLC now owns 15,047 shares of the network technology company’s stock worth $2,455,000 after buying an additional 220 shares during the period. Mn Services Vermogensbeheer B.V. bought a new stake in Palo Alto Networks during the first quarter worth $292,000. Finally, Cornerstone Financial Partners LLC bought a new stake in Palo Alto Networks during the first quarter worth $1,453,000. Hedge funds and other institutional investors own 80.06% of the company’s stock.
PANW has been the topic of a number of analyst reports. Wunderlich reiterated a “buy” rating on shares of Palo Alto Networks in a research note on Wednesday, July 6th. Nomura reiterated a “buy” rating and set a $200.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, August 24th. Vetr upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $152.42 price objective on the stock in a research note on Monday, August 22nd. Barclays PLC set a $184.00 price objective on Palo Alto Networks and gave the stock a “buy” rating in a research note on Friday, August 19th. Finally, Maxim Group dropped their price objective on Palo Alto Networks from $215.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, August 31st. Eight research analysts have rated the stock with a hold rating and thirty-six have issued a buy rating to the stock. Palo Alto Networks presently has a consensus rating of “Buy” and a consensus target price of $181.48.
About Palo Alto Networks
Palo Alto Networks, Inc is a security company. The Company’s security platform consists of three elements: its Next-Generation Firewall, its Advanced Endpoint Protection, and its Threat Intelligence Cloud. The Company’s 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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