Insider Selling: Palo Alto Networks Director Sells 6,496 Shares of Stock (PANW)
Palo Alto Networks (NASDAQ:PANW) Director Carl M. Eschenbach sold 6,496 shares of Palo Alto Networks stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $80.86, for a total value of $525,266.56. Following the transaction, the director now directly owns 14,149 shares of the company’s stock, valued at approximately $1,144,088. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on PANW. 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 assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $81.61.
Palo Alto Networks (NASDAQ:PANW) traded down 0.20% during mid-day trading on Wednesday, hitting $80.50. The stock had a trading volume of 1,267,129 shares. Palo Alto Networks has a one year low of $39.08 and a one year high of $82.27. The stock has a 50-day moving average of $68.99 and a 200-day moving average of $65.98. The company’s market cap is $6.205 billion.
Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Wednesday, May 28th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.06 earnings per share. The company’s quarterly revenue 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.
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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