Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report) EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction on Monday, April 7th. The shares were sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the completion of the transaction, the executive vice president now owns 321,774 shares in the company, valued at approximately $48,629,704.62. This represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Lee Klarich also recently made the following trade(s):
- On Monday, February 3rd, Lee Klarich sold 99,707 shares of Palo Alto Networks stock. The shares were sold at an average price of $182.45, for a total transaction of $18,191,542.15.
Palo Alto Networks Stock Up 13.4 %
NASDAQ:PANW opened at $173.02 on Thursday. The company has a market cap of $114.56 billion, a P/E ratio of 97.48, a P/E/G ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a fifty-two week low of $135.18 and a fifty-two week high of $208.39. The firm's 50 day moving average is $182.88 and its two-hundred day moving average is $184.83.
Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.06. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Palo Alto Networks
Large investors have recently bought and sold shares of the stock. Uniting Wealth Partners LLC acquired a new stake in shares of Palo Alto Networks in the fourth quarter worth $548,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Palo Alto Networks by 94.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company's stock worth $2,122,000 after acquiring an additional 5,658 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its position in shares of Palo Alto Networks by 108.1% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 21,354 shares of the network technology company's stock worth $3,886,000 after acquiring an additional 11,095 shares in the last quarter. National Pension Service increased its position in shares of Palo Alto Networks by 82.1% in the fourth quarter. National Pension Service now owns 1,345,740 shares of the network technology company's stock worth $244,871,000 after acquiring an additional 606,778 shares in the last quarter. Finally, Mosley Wealth Management increased its position in shares of Palo Alto Networks by 116.2% in the fourth quarter. Mosley Wealth Management now owns 3,023 shares of the network technology company's stock worth $561,000 after acquiring an additional 1,625 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on PANW shares. Barclays lowered their target price on shares of Palo Alto Networks from $425.00 to $213.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Morgan Stanley set a $230.00 target price on shares of Palo Alto Networks in a report on Tuesday, March 18th. UBS Group boosted their price objective on shares of Palo Alto Networks from $190.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. KeyCorp boosted their price objective on shares of Palo Alto Networks from $217.00 to $240.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Finally, Jefferies Financial Group decreased their price objective on shares of Palo Alto Networks from $240.00 to $215.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of "Moderate Buy" and a consensus target price of $204.27.
Check Out Our Latest Analysis on Palo Alto Networks
About Palo Alto Networks
(
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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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