Insider Selling: Rajiv Batra Sells 100,000 Shares of Palo Alto Networks Stock (PANW)
Palo Alto Networks (NASDAQ:PANW) VP Rajiv Batra sold 100,000 shares of the stock on the open market in a transaction dated Thursday, February 13th. The stock was sold at an average price of $72.55, for a total transaction of $7,255,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Palo Alto Networks (NASDAQ:PANW) traded up 0.46% during mid-day trading on Friday, hitting $72.80. 997,777 shares of the company’s stock traded hands. Palo Alto Networks has a 52 week low of $39.08 and a 52 week high of $73.94. The stock’s 50-day moving average is $61.99 and its 200-day moving average is $50.77. The company’s market cap is $5.277 billion.
Palo Alto Networks (NASDAQ:PANW) last released its earnings data on Monday, November 25th. The company reported $0.08 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 49.2% on a year-over-year basis. On average, analysts predict that Palo Alto Networks will post $0.42 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on PANW shares. Analysts at Pacific Crest raised their price target on shares of Palo Alto Networks from $65.00 to $75.00 in a research note on Tuesday, February 4th. They now have an “outperform” rating on the stock. Separately, analysts at Wells Fargo & Co. upgraded shares of Palo Alto Networks from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. They now have a $78.00 price target on the stock, up previously from $54.50. Finally, analysts at Deutsche Bank initiated coverage on shares of Palo Alto Networks in a research note on Wednesday, January 22nd. They set a “buy” rating and a $75.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $60.52.
Palo Alto Networks, Inc offers a network security platform that allows enterprises, service providers, and government entities to secure their networks.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.