Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report) EVP Nir Zuk sold 168,000 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $387.39, for a total value of $65,081,520.00. Following the completion of the transaction, the executive vice president now directly owns 1,821,758 shares of the company's stock, valued at approximately $705,730,831.62. This trade represents a 8.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Nir Zuk also recently made the following trade(s):
- On Tuesday, October 1st, Nir Zuk sold 36,000 shares of Palo Alto Networks stock. The stock was sold at an average price of $332.50, for a total transaction of $11,970,000.00.
Palo Alto Networks Trading Up 2.6 %
Shares of NASDAQ PANW opened at $396.40 on Wednesday. The stock has a market capitalization of $130.06 billion, a price-to-earnings ratio of 51.61, a P/E/G ratio of 5.65 and a beta of 1.12. Palo Alto Networks, Inc. has a 12-month low of $260.09 and a 12-month high of $408.53. The firm's 50-day moving average price is $366.30 and its 200-day moving average price is $341.22.
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Palo Alto Networks's stock is set to split before the market opens on Monday, December 16th. The 2-1 split was announced on Wednesday, November 20th. The newly minted shares will be payable to shareholders after the market closes on Friday, December 13th.
Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its earnings results on Wednesday, November 20th. The network technology company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.08. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Palo Alto Networks had a return on equity of 23.36% and a net margin of 32.99%. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. On average, equities analysts predict that Palo Alto Networks, Inc. will post 3.49 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
PANW has been the topic of several research analyst reports. Evercore ISI increased their price target on Palo Alto Networks from $395.00 to $455.00 and gave the company an "outperform" rating in a report on Monday, November 18th. TD Cowen raised their target price on Palo Alto Networks from $400.00 to $420.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Robert W. Baird upped their price target on shares of Palo Alto Networks from $425.00 to $435.00 and gave the company an "outperform" rating in a research report on Thursday, November 21st. Northland Securities reissued a "market perform" rating and issued a $370.00 price objective (up previously from $350.00) on shares of Palo Alto Networks in a report on Thursday, November 21st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $445.00 target price on shares of Palo Alto Networks in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of "Moderate Buy" and a consensus target price of $402.03.
Read Our Latest Stock Analysis on PANW
Institutional Investors Weigh In On Palo Alto Networks
Several hedge funds and other institutional investors have recently made changes to their positions in PANW. Geode Capital Management LLC raised its position in Palo Alto Networks by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 7,656,968 shares of the network technology company's stock worth $2,609,486,000 after purchasing an additional 220,900 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Palo Alto Networks by 34,318.2% in the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company's stock worth $1,113,948,000 after buying an additional 3,249,594 shares during the period. Legal & General Group Plc lifted its stake in shares of Palo Alto Networks by 8.5% during the 2nd quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company's stock worth $1,099,564,000 after acquiring an additional 255,060 shares during the last quarter. Jennison Associates LLC grew its position in Palo Alto Networks by 50.1% in the 3rd quarter. Jennison Associates LLC now owns 3,147,215 shares of the network technology company's stock valued at $1,075,718,000 after acquiring an additional 1,050,173 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Palo Alto Networks by 5.4% during the second quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company's stock worth $757,321,000 after purchasing an additional 114,742 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company's stock.
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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