Palo Alto Networks CEO Sells $5,821,500 in Stock (PANW)
Palo Alto Networks (NASDAQ:PANW) CEO Mark D. Mclaughlin sold 75,000 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $77.62, for a total value of $5,821,500.00. Following the transaction, the chief executive officer now directly owns 100,151 shares of the company’s stock, valued at approximately $7,773,721. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Palo Alto Networks (NASDAQ:PANW) traded up 0.96% on Tuesday, hitting $78.14. The stock had a trading volume of 886,029 shares. Palo Alto Networks has a 52-week low of $39.08 and a 52-week high of $80.84. The stock has a 50-day moving average of $67.06 and a 200-day moving average of $64.73. The company’s market cap is $6.023 billion.
Palo Alto Networks (NASDAQ:PANW) last released its earnings data on Wednesday, May 28th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $150.70 million for the quarter, compared to the consensus estimate of $146.13 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 48.8% on a year-over-year basis. Analysts expect that Palo Alto Networks will post $0.40 EPS for the current fiscal year.
PANW has been the subject of a number of recent research reports. Analysts at Cowen and Company reiterated a “market perform” rating on shares of Palo Alto Networks in a research note on Thursday, May 29th. They now have a $80.00 price target on the stock, up previously from $70.00. Separately, analysts at Needham & Company LLC raised their price target on shares of Palo Alto Networks from $87.00 to $95.00 in a research note on Thursday, May 29th. They now have a “buy” rating on the stock. Finally, analysts at Raymond James upgraded shares of Palo Alto Networks from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, May 29th. They now have a $90.00 price target on the stock, up previously from $84.00. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $81.61.
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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