Lee Klarich Sells 121,276 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW) Stock

Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Lee Klarich sold 121,276 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $299.60, for a total transaction of $36,334,289.60. Following the transaction, the executive vice president now directly owns 166,542 shares of the company’s stock, valued at approximately $49,895,983.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, April 5th, Lee Klarich sold 60,000 shares of Palo Alto Networks stock. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00.
• On Monday, March 11th, Lee Klarich sold 60,000 shares of Palo Alto Networks stock. The stock was sold at an average price of $284.33, for a total value of $17,059,800.00.

Palo Alto Networks Stock Down 0.8 %

Shares of PANW traded down $2.51 during mid-day trading on Wednesday, hitting $303.01. 3,106,097 shares of the company traded hands, compared to its average volume of 5,233,852. The business has a 50 day moving average of $285.75 and a 200 day moving average of $294.47. The company has a market capitalization of $97.90 billion, a PE ratio of 47.28, a price-to-earnings-growth ratio of 4.03 and a beta of 1.18. Palo Alto Networks, Inc. has a 1-year low of $186.75 and a 1-year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.58 by $0.22. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. As a group, research analysts expect that Palo Alto Networks, Inc. will post 2.77 EPS for the current fiscal year.

Institutional Trading of Palo Alto Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in PANW. Frank Rimerman Advisors LLC purchased a new position in shares of Palo Alto Networks during the 4th quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. raised its position in shares of Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after acquiring an additional 96 shares during the period. Webster Bank N. A. boosted its stake in shares of Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after acquiring an additional 85 shares in the last quarter. Cedar Mountain Advisors LLC grew its position in shares of Palo Alto Networks by 87.0% during the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 47 shares during the period. Finally, Ulland Investment Advisors LLC purchased a new position in Palo Alto Networks during the first quarter worth approximately $30,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

PANW has been the topic of several research reports. Stifel Nicolaus restated a “buy” rating and issued a $330.00 price target on shares of Palo Alto Networks in a research report on Wednesday, March 13th. Barclays lowered their price target on shares of Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. Redburn Atlantic boosted their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Truist Financial raised their price objective on Palo Alto Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Finally, Northland Securities downgraded Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 target price on the stock. in a research report on Wednesday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $314.82.

Palo Alto Networks Company Profile

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.