Insider Selling: Palo Alto Networks Inc (PANW) Director Sells $9,985,800.00 in Stock
Palo Alto Networks Inc (NYSE:PANW) Director James J. Goetz sold 68,000 shares of the firm’s stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $146.85, for a total value of $9,985,800.00. Following the completion of the transaction, the director now directly owns 203,645 shares in the company, valued at $29,905,268.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Palo Alto Networks Inc (PANW) opened at $149.26 on Friday. The company has a market capitalization of $13,720.00, a price-to-earnings ratio of -60.67 and a beta of 0.99. Palo Alto Networks Inc has a one year low of $107.31 and a one year high of $157.65.
Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Monday, November 20th. The network technology company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.06. The company had revenue of $505.50 million for the quarter, compared to analyst estimates of $489.36 million. Palo Alto Networks had a negative return on equity of 15.77% and a negative net margin of 11.97%. The business’s revenue was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 earnings per share. equities research analysts anticipate that Palo Alto Networks Inc will post -0.37 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the business. First Trust Advisors LP boosted its stake in Palo Alto Networks by 55.1% in the third quarter. First Trust Advisors LP now owns 204,302 shares of the network technology company’s stock worth $29,440,000 after purchasing an additional 72,573 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in Palo Alto Networks by 32.5% in the second quarter. Parametric Portfolio Associates LLC now owns 95,049 shares of the network technology company’s stock worth $12,719,000 after purchasing an additional 23,292 shares in the last quarter. Synovus Financial Corp boosted its stake in Palo Alto Networks by 17.3% in the second quarter. Synovus Financial Corp now owns 14,361 shares of the network technology company’s stock worth $1,919,000 after purchasing an additional 2,122 shares in the last quarter. Cambridge Trust Co. lifted its stake in shares of Palo Alto Networks by 48.5% during the third quarter. Cambridge Trust Co. now owns 137,115 shares of the network technology company’s stock valued at $19,758,000 after acquiring an additional 44,759 shares during the period. Finally, Trellus Management Company LLC acquired a new position in shares of Palo Alto Networks during the third quarter valued at $461,000. 79.91% of the stock is currently owned by institutional investors.
Several research analysts have commented on PANW shares. Zacks Investment Research raised Palo Alto Networks from a “hold” rating to a “buy” rating and set a $164.00 price target on the stock in a research report on Tuesday, October 10th. Northland Securities set a $175.00 price objective on Palo Alto Networks and gave the company a “buy” rating in a research report on Wednesday, October 18th. Dougherty & Co boosted their price objective on Palo Alto Networks from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, September 28th. Maxim Group restated a “buy” rating and set a $195.00 price objective (up from $168.00) on shares of Palo Alto Networks in a research report on Thursday, September 28th. Finally, Oppenheimer restated a “buy” rating and set a $173.00 price objective on shares of Palo Alto Networks in a research report on Monday, September 18th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty-two have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $164.89.
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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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