Insider Selling: Palo Alto Networks Director Sells 3,000 Shares of Stock (PANW)
Palo Alto Networks (NASDAQ:PANW) Director Daniel J. Warmenhoven sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $88.22, for a total transaction of $264,660.00. Following the completion of the sale, the director now directly owns 8,544 shares in the company, valued at approximately $753,752. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on PANW shares. Analysts at Barclays raised their price target on shares of Palo Alto Networks from $90.00 to $110.00 in a research note on Thursday. They now have an “overweight” rating on the stock. Separately, analysts at Oppenheimer raised their price target on shares of Palo Alto Networks from $80.00 to $90.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Finally, analysts at Stifel Nicolaus initiated coverage on shares of Palo Alto Networks in a research note on Thursday, August 28th. They set a “buy” rating and a $100.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $88.36.
Shares of Palo Alto Networks (NASDAQ:PANW) traded down 2.36% during mid-day trading on Thursday, hitting $87.26. 1,718,023 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 $92.70. The stock has a 50-day moving average of $82.70 and a 200-day moving average of $74.72. The company’s market cap is $6.726 billion.
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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