Insider Selling: Palo Alto Networks, Inc. (PANW) CEO Sells $5,239,500.00 in Stock

Palo Alto Networks, Inc. (NYSE:PANW) CEO Mark D. Mclaughlin sold 35,000 shares of the stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $149.70, for a total transaction of $5,239,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Shares of Palo Alto Networks, Inc. (PANW) opened at 149.91 on Friday. The firm’s market capitalization is $13.77 billion. Palo Alto Networks, Inc. has a 12-month low of $107.31 and a 12-month high of $165.69. The company’s 50-day moving average is $142.58 and its 200-day moving average is $129.89.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Thursday, August 31st. The network technology company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.92). Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. The firm had revenue of $509.00 million during the quarter, compared to analyst estimates of $487.53 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Palo Alto Networks’s quarterly revenue was up 27.0% compared to the same quarter last year. On average, equities analysts forecast that Palo Alto Networks, Inc. will post $3.33 earnings per share for the current fiscal year.

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Several institutional investors have recently modified their holdings of PANW. Waldron LP lifted its stake in shares of Palo Alto Networks by 105.2% in the first quarter. Waldron LP now owns 12,850 shares of the network technology company’s stock worth $1,749,000 after buying an additional 6,587 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of Palo Alto Networks by 9.9% in the first quarter. UBS Asset Management Americas Inc. now owns 240,802 shares of the network technology company’s stock worth $27,134,000 after buying an additional 21,780 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of Palo Alto Networks by 83.8% in the first quarter. Prudential Financial Inc. now owns 5,220 shares of the network technology company’s stock worth $588,000 after buying an additional 2,380 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Palo Alto Networks by 40.0% in the first quarter. Neuberger Berman Group LLC now owns 53,419 shares of the network technology company’s stock worth $6,019,000 after buying an additional 15,269 shares during the last quarter. Finally, Teachers Advisors LLC lifted its stake in shares of Palo Alto Networks by 5.5% in the first quarter. Teachers Advisors LLC now owns 287,461 shares of the network technology company’s stock worth $32,391,000 after buying an additional 15,024 shares during the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

Several research analysts have weighed in on the stock. BidaskClub upgraded shares of Palo Alto Networks from a “sell” rating to a “hold” rating in a research report on Wednesday. Rosenblatt Securities restated a “buy” rating and set a $160.00 target price on shares of Palo Alto Networks in a research report on Friday, September 1st. J P Morgan Chase & Co restated a “neutral” rating and set a $168.00 target price (up from $155.00) on shares of Palo Alto Networks in a research report on Sunday, September 3rd. Stifel Nicolaus restated a “buy” rating and set a $180.00 target price on shares of Palo Alto Networks in a research report on Tuesday, September 5th. Finally, William Blair restated a “market perform” rating on shares of Palo Alto Networks in a research report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirty-one have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $160.33.

About Palo Alto Networks

Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

Shares of Palo Alto Networks, Inc. (PANW) opened at 149.91 on Friday. The firm’s market capitalization is $13.77 billion. Palo Alto Networks, Inc. has a 12-month low of $107.31 and a 12-month high of $165.69. The company’s 50-day moving average is $142.58 and its 200-day moving average is $129.89.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Thursday, August 31st. The network technology company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.92). Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. The firm had revenue of $509.00 million during the quarter, compared to analyst estimates of $487.53 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Palo Alto Networks’s quarterly revenue was up 27.0% compared to the same quarter last year. On average, equities analysts forecast that Palo Alto Networks, Inc. will post $3.33 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of United States & international copyright laws. The correct version of this piece can be read at https://ledgergazette.com/2017/10/15/insider-selling-palo-alto-networks-inc-panw-ceo-sells-5239500-00-in-stock.html.

Several institutional investors have recently modified their holdings of PANW. Waldron LP lifted its stake in shares of Palo Alto Networks by 105.2% in the first quarter. Waldron LP now owns 12,850 shares of the network technology company’s stock worth $1,749,000 after buying an additional 6,587 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of Palo Alto Networks by 9.9% in the first quarter. UBS Asset Management Americas Inc. now owns 240,802 shares of the network technology company’s stock worth $27,134,000 after buying an additional 21,780 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of Palo Alto Networks by 83.8% in the first quarter. Prudential Financial Inc. now owns 5,220 shares of the network technology company’s stock worth $588,000 after buying an additional 2,380 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Palo Alto Networks by 40.0% in the first quarter. Neuberger Berman Group LLC now owns 53,419 shares of the network technology company’s stock worth $6,019,000 after buying an additional 15,269 shares during the last quarter. Finally, Teachers Advisors LLC lifted its stake in shares of Palo Alto Networks by 5.5% in the first quarter. Teachers Advisors LLC now owns 287,461 shares of the network technology company’s stock worth $32,391,000 after buying an additional 15,024 shares during the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

Several research analysts have weighed in on the stock. BidaskClub upgraded shares of Palo Alto Networks from a “sell” rating to a “hold” rating in a research report on Wednesday. Rosenblatt Securities restated a “buy” rating and set a $160.00 target price on shares of Palo Alto Networks in a research report on Friday, September 1st. J P Morgan Chase & Co restated a “neutral” rating and set a $168.00 target price (up from $155.00) on shares of Palo Alto Networks in a research report on Sunday, September 3rd. Stifel Nicolaus restated a “buy” rating and set a $180.00 target price on shares of Palo Alto Networks in a research report on Tuesday, September 5th. Finally, William Blair restated a “market perform” rating on shares of Palo Alto Networks in a research report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirty-one have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $160.33.

About Palo Alto Networks

Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

Insider Buying and Selling by Quarter for Palo Alto Networks (NYSE:PANW)

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