Insider Selling: Nir Zuk Sells 30,000 Shares of Palo Alto Networks Stock (PANW)
Palo Alto Networks (NASDAQ:PANW) Insider Nir Zuk sold 30,000 shares of Palo Alto Networks stock on the open market in a transaction dated Thursday, August 7th. The stock was sold at an average price of $80.35, for a total value of $2,410,500.00. Following the transaction, the insider now directly owns 2,789,836 shares of the company’s stock, valued at approximately $224,163,323. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
PANW has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Palo Alto Networks from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 29th. They now have a $83.10 price target on the stock. Separately, analysts at Pacific Crest reiterated an “outperform” rating on shares of Palo Alto Networks in a research note on Thursday, July 17th. They now have a $105.00 price target on the stock, up previously from $90.00. Finally, analysts at Goldman Sachs initiated coverage on shares of Palo Alto Networks in a research note on Wednesday, July 16th. They set a “conviction-buy” rating and a $97.00 price target on the stock. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $85.30.
Palo Alto Networks (NASDAQ:PANW) traded up 2.16% on Monday, hitting $81.92. The stock had a trading volume of 779,125 shares. 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 $80. and a 200-day moving average of $72.28. The company’s market cap is $6.314 billion.
Palo Alto Networks (NASDAQ:PANW) last released its earnings data on Wednesday, May 28th. The company reported $0.11 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.06 earnings per share. Palo Alto Networks’s revenue was up 48.8% compared to the same quarter last year. 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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