Palo Alto Networks Director Unloads $4,204,200 in Stock (PANW)
Palo Alto Networks (NASDAQ:PANW) Director Asheem Chandna sold 70,000 shares of Palo Alto Networks stock on the open market in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $60.06, for a total value of $4,204,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Palo Alto Networks (NASDAQ:PANW) traded up 0.98% during mid-day trading on Thursday, hitting $60.64. The stock had a trading volume of 915,846 shares. Palo Alto Networks has a 52-week low of $39.08 and a 52-week high of $62.19. The stock’s 50-day moving average is $53.21 and its 200-day moving average is $47.62. The company’s market cap is $4.396 billion.
Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, November 25th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $128.20 million for the quarter, compared to the consensus estimate of $120.81 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was up 49.2% on a year-over-year basis. Analysts expect that Palo Alto Networks will post $0.42 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at TheStreet upgraded shares of Palo Alto Networks from a “sell” rating to a “hold” rating in a research note to investors on Tuesday, December 17th. Separately, analysts at Zacks upgraded shares of Palo Alto Networks from an “underperform” rating to a “neutral” rating in a research note to investors on Friday, December 13th. They now have a $53.10 price target on the stock. Finally, analysts at Raymond James downgraded shares of Palo Alto Networks from a “strong-buy” rating to an “outperform” rating in a research note to investors on Monday, December 2nd. They now have a $56.00 price target on the stock, down previously from $63.00. Ten research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Palo Alto Networks has a consensus rating of “Buy” and an average target price of $58.25.
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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