Palo Alto Networks SVP Sells $97,500 in Stock (PANW)
Palo Alto Networks (NASDAQ:PANW) SVP Haoying (Wilson) Xu unloaded 1,500 shares of the company’s stock on the open market in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $65.00, for a total value of $97,500.00. Following the completion of the transaction, the senior vice president now directly owns 133,608 shares in the company, valued at approximately $8,684,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Palo Alto Networks (NASDAQ:PANW) traded up 0.53% during mid-day trading on Friday, hitting $66.99. 1,052,983 shares of the company’s stock traded hands. Palo Alto Networks has a 1-year low of $39.08 and a 1-year high of $80.84. The stock has a 50-day moving average of $64.56 and a 200-day moving average of $61.79. The company’s market cap is $4.962 billion.
Palo Alto Networks (NASDAQ:PANW) last released its earnings data on Monday, February 24th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $141.10 million for the quarter, compared to the consensus estimate of $139.62 million. Analysts expect that Palo Alto Networks will post $0.38 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs cut their price target on shares of Palo Alto Networks from $86.00 to $85.00 in a research note on Thursday. Separately, analysts at Zacks downgraded shares of Palo Alto Networks from a “neutral” rating to an “underperform” rating in a research note on Monday, April 28th. They now have a $64.20 price target on the stock. Finally, analysts at Stephens upgraded shares of Palo Alto Networks from an “equal weight” rating to an “overweight” rating in a research note on Monday, April 14th. They now have a $85.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $72.05.
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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