Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report) CEO Nikesh Arora sold 227,414 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the transaction, the chief executive officer now owns 317,571 shares of the company's stock, valued at approximately $54,854,038.83. This represents a 41.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Nikesh Arora also recently made the following trade(s):
- On Monday, February 3rd, Nikesh Arora sold 490,723 shares of Palo Alto Networks stock. The stock was sold at an average price of $182.45, for a total transaction of $89,532,411.35.
- On Monday, January 6th, Nikesh Arora sold 176,242 shares of Palo Alto Networks stock. The stock was sold at an average price of $180.04, for a total value of $31,730,609.68.
- On Friday, January 3rd, Nikesh Arora sold 235,492 shares of Palo Alto Networks stock. The shares were sold at an average price of $183.32, for a total value of $43,170,393.44.
Palo Alto Networks Trading Down 4.6 %
PANW opened at $165.17 on Friday. Palo Alto Networks, Inc. has a 12 month low of $132.50 and a 12 month high of $208.39. The stock has a fifty day moving average price of $186.28 and a 200-day moving average price of $185.24. The firm has a market cap of $109.36 billion, a price-to-earnings ratio of 93.05, a PEG ratio of 5.64 and a beta of 1.04.
Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.
Wall Street Analyst Weigh In
PANW has been the topic of several recent research reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $235.00 price objective on shares of Palo Alto Networks in a report on Monday. Scotiabank increased their price objective on shares of Palo Alto Networks from $200.00 to $225.00 and gave the company a "sector outperform" rating in a research report on Tuesday, January 21st. Morgan Stanley set a $230.00 target price on shares of Palo Alto Networks in a report on Tuesday, March 18th. JMP Securities increased their price target on shares of Palo Alto Networks from $208.00 to $212.00 and gave the company a "market outperform" rating in a report on Friday, February 14th. Finally, Susquehanna boosted their price objective on Palo Alto Networks from $217.50 to $230.00 and gave the stock a "positive" rating in a research note on Tuesday, February 18th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $204.27.
Get Our Latest Analysis on PANW
Institutional Investors Weigh In On Palo Alto Networks
Several institutional investors have recently bought and sold shares of PANW. Versant Capital Management Inc lifted its holdings in shares of Palo Alto Networks by 109.1% during the 1st quarter. Versant Capital Management Inc now owns 1,355 shares of the network technology company's stock valued at $231,000 after purchasing an additional 707 shares during the last quarter. Boston Common Asset Management LLC acquired a new stake in Palo Alto Networks in the first quarter worth about $5,117,000. Adirondack Trust Co. grew its stake in shares of Palo Alto Networks by 100.0% during the first quarter. Adirondack Trust Co. now owns 1,010 shares of the network technology company's stock worth $172,000 after acquiring an additional 505 shares during the last quarter. Jacobs & Co. CA increased its holdings in shares of Palo Alto Networks by 6.1% during the first quarter. Jacobs & Co. CA now owns 29,794 shares of the network technology company's stock valued at $5,084,000 after acquiring an additional 1,724 shares in the last quarter. Finally, Legacy Wealth Management LLC MS raised its position in shares of Palo Alto Networks by 2.0% in the 1st quarter. Legacy Wealth Management LLC MS now owns 47,864 shares of the network technology company's stock valued at $8,168,000 after purchasing an additional 924 shares during the last quarter. 79.82% of the stock is currently 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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