Palo Alto Networks Insider Unloads $2,274,300 in Stock (PANW)
Palo Alto Networks (NASDAQ:PANW) Insider Nir Zuk unloaded 30,000 shares of Palo Alto Networks stock on the open market in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $75.81, for a total value of $2,274,300.00. Following the sale, the insider now directly owns 2,822,040 shares of the company’s stock, valued at approximately $213,938,852. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Palo Alto Networks (NASDAQ:PANW) traded up 0.72% during mid-day trading on Thursday, hitting $76.71. 1,596,210 shares of the company’s stock traded hands. Palo Alto Networks has a 52 week low of $40.36 and a 52 week high of $85.78. The stock has a 50-day moving average of $77.38 and a 200-day moving average of $69.05. The company’s market cap is $5.913 billion.
Palo Alto Networks (NASDAQ:PANW) last posted its quarterly 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.
A number of analysts have recently weighed in on PANW shares. Analysts at Northland Securities initiated coverage on shares of Palo Alto Networks in a research note on Wednesday, July 2nd. They set an “outperform” rating and a $95.00 price target on the stock. Separately, analysts at Morgan Stanley raised their price target on shares of Palo Alto Networks from $90.00 to $105.00 in a research note on Monday, June 30th. They now have a “top pick” rating on the stock. Finally, analysts at Dougherty & Co initiated coverage on shares of Palo Alto Networks in a research note on Thursday, June 26th. They set a “buy” rating and a $95.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Palo Alto Networks has a consensus rating of “Buy” and a consensus price target of $83.97.
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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