Insider Selling: Mark Anderson Unloads 20,000 Shares of Palo Alto Networks Stock (PANW)
Palo Alto Networks (NASDAQ:PANW) SVP Mark Anderson sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $47.06, for a total value of $941,200.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on PANW. Analysts at FBN Securities raised their price target on shares of Palo Alto Networks (NASDAQ:PANW) from $55.00 to $60.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Barclays Capital raised their price target on shares of Palo Alto Networks (NASDAQ:PANW) from $58.00 to $60.00 in a research note to investors on Tuesday. They now have an “equal weight” rating on the stock. Finally, analysts at UBS AG raised their price target on shares of Palo Alto Networks (NASDAQ:PANW) from $55.00 to $57.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock.
Fourteen equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $58.28.
Shares of Palo Alto Networks (NASDAQ:PANW) traded up 0.93% during mid-day trading on Friday, hitting $47.71. 1,325,531 shares of the company’s stock traded hands. Palo Alto Networks has a one year low of $39.08 and a one year high of $70.33. The stock has a 50-day moving average of $48.09 and a 200-day moving average of $50.08. The company’s market cap is $3.394 billion.
Palo Alto Networks (NASDAQ:PANW) last released its earnings data on Monday, September 9th. The company reported $0.06 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.06. The company had revenue of $112.40 million for the quarter, compared to the consensus estimate of $108.98 million. During the same quarter last year, the company posted $0.03 earnings per share. Palo Alto Networks’s revenue was up 48.7% compared to the same quarter last year. Analysts expect that Palo Alto Networks will post $0.41 EPS for the current fiscal year.
Palo Alto Networks, Inc offers a network security platform that allows enterprises, service providers, and government entities to secure their networks.
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