Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report) EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the sale, the executive vice president now owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. This trade represents a 2.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Palo Alto Networks Price Performance
Shares of PANW opened at $169.98 on Tuesday. The company has a 50-day moving average of $181.95 and a two-hundred day moving average of $184.92. The stock has a market cap of $112.54 billion, a price-to-earnings ratio of 95.76, a PEG ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a one year low of $135.18 and a one year high of $208.39.
Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.06. The firm had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on PANW. Westpark Capital reaffirmed a "hold" rating and set a $196.40 target price on shares of Palo Alto Networks in a report on Wednesday, February 12th. JMP Securities lifted their price objective on shares of Palo Alto Networks from $208.00 to $212.00 and gave the stock a "market outperform" rating in a report on Friday, February 14th. Truist Financial dropped their target price on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Morgan Stanley set a $230.00 price target on shares of Palo Alto Networks in a report on Tuesday, March 18th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $190.00 price objective (down previously from $207.00) on shares of Palo Alto Networks in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $204.52.
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Institutional Investors Weigh In On Palo Alto Networks
A number of institutional investors have recently bought and sold shares of the business. Uniting Wealth Partners LLC purchased a new position in Palo Alto Networks during the fourth quarter valued at approximately $548,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Palo Alto Networks by 94.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company's stock valued at $2,122,000 after buying an additional 5,658 shares during the period. Knights of Columbus Asset Advisors LLC grew its holdings in shares of Palo Alto Networks by 108.1% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 21,354 shares of the network technology company's stock valued at $3,886,000 after acquiring an additional 11,095 shares in the last quarter. National Pension Service increased its stake 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 during the last quarter. Finally, Mosley Wealth Management raised its holdings in shares of Palo Alto Networks by 116.2% during 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. 79.82% of the stock is currently owned by institutional investors and hedge funds.
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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