Palo Alto Networks CMO Sells $3,600,000 in Stock (PANW)
Palo Alto Networks (NASDAQ:PANW) CMO Rene Bonvanie sold 50,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $72.00, for a total value of $3,600,000.00. Following the transaction, the chief marketing officer now directly owns 226,578 shares of the company’s stock, valued at approximately $16,313,616. The transaction 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 down 0.09% during mid-day trading on Friday, hitting $68.83. The stock had a trading volume of 304,326 shares. Palo Alto Networks has a 52 week low of $39.08 and a 52 week high of $69.97. The stock has a 50-day moving average of $60.68 and a 200-day moving average of $50.4. The company’s market cap is $4.990 billion.
Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, November 25th. The company reported $0.08 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.04 earnings per share. Palo Alto Networks’s revenue was up 49.2% compared to the same quarter last year. 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 issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $60.52.
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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