Palo Alto Networks Inc (NYSE:PANW) CEO Mark D. Mclaughlin sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $149.50, for a total transaction of $5,232,500.00. Following the completion of the sale, the chief executive officer now owns 348,901 shares in the company, valued at approximately $52,160,699.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Palo Alto Networks Inc (NYSE PANW) opened at $153.52 on Friday. Palo Alto Networks Inc has a one year low of $107.31 and a one year high of $157.65. The firm has a market cap of $14,110.00, a price-to-earnings ratio of -62.41 and a beta of 0.99.
Palo Alto Networks (NYSE:PANW) last released its earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.06. The company had revenue of $505.50 million for the quarter, compared to analysts’ expectations of $489.36 million. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. Palo Alto Networks’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 EPS. analysts forecast that Palo Alto Networks Inc will post -0.37 earnings per share for the current year.
Several equities research analysts recently issued reports on the stock. Dougherty & Co restated a “buy” rating and issued a $180.00 target price (up previously from $170.00) on shares of Palo Alto Networks in a report on Tuesday, November 21st. FBN Securities upgraded shares of Palo Alto Networks from a “sector perform” rating to an “outperform” rating in a report on Tuesday, November 21st. Zacks Investment Research upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $169.00 target price on the stock in a report on Tuesday, November 28th. BidaskClub upgraded shares of Palo Alto Networks from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, Oppenheimer reiterated a “buy” rating and set a $180.00 price target (up previously from $173.00) on shares of Palo Alto Networks in a research note on Tuesday, November 21st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and thirty-two have assigned a buy rating to the company’s stock. Palo Alto Networks presently has a consensus rating of “Buy” and a consensus price target of $164.89.
A number of hedge funds and other institutional investors have recently made changes to their positions in PANW. Schwab Charles Investment Management Inc. increased its holdings in Palo Alto Networks by 8.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 153,838 shares of the network technology company’s stock valued at $20,586,000 after acquiring an additional 11,488 shares during the last quarter. Prudential Financial Inc. increased its holdings in Palo Alto Networks by 14.9% in the 2nd quarter. Prudential Financial Inc. now owns 6,000 shares of the network technology company’s stock valued at $803,000 after acquiring an additional 780 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in Palo Alto Networks by 67.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 89,415 shares of the network technology company’s stock valued at $11,965,000 after acquiring an additional 35,996 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Palo Alto Networks by 1.2% in the 2nd quarter. Principal Financial Group Inc. now owns 5,590 shares of the network technology company’s stock valued at $748,000 after acquiring an additional 68 shares during the last quarter. Finally, Cipher Capital LP bought a new stake in Palo Alto Networks in the 2nd quarter valued at $1,163,000. Institutional investors own 79.91% of the company’s stock.
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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.
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