Insider Selling: Palo Alto Networks, Inc. (PANW) Insider Sells 2,000 Shares of Stock
Palo Alto Networks, Inc. (NYSE:PANW) insider Nir Zuk sold 2,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $144.76, for a total value of $289,520.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Nir Zuk also recently made the following trade(s):
- On Monday, September 11th, Nir Zuk sold 2,000 shares of Palo Alto Networks stock. The stock was sold at an average price of $145.01, for a total value of $290,020.00.
Palo Alto Networks, Inc. (NYSE PANW) traded down 0.21% during trading on Wednesday, hitting $144.05. The stock had a trading volume of 691,801 shares. Palo Alto Networks, Inc. has a 52-week low of $107.31 and a 52-week high of $165.69. The firm’s 50-day moving average price is $138.46 and its 200-day moving average price is $127.97. The company’s market cap is $13.23 billion.
Palo Alto Networks (NYSE:PANW) last posted its earnings results on Thursday, August 31st. The network technology company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.92). Palo Alto Networks had a negative net margin of 12.57% and a negative return on equity of 19.72%. The business had revenue of $509.00 million for the quarter, compared to analyst estimates of $487.53 million. During the same quarter last year, the business earned $0.50 earnings per share. Palo Alto Networks’s revenue was up 27.0% on a year-over-year basis. Analysts predict that Palo Alto Networks, Inc. will post $3.33 EPS for the current fiscal year.
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Several large investors have recently bought and sold shares of the company. Global X Management Co. LLC boosted its holdings in Palo Alto Networks by 31.9% in the 1st quarter. Global X Management Co. LLC now owns 939 shares of the network technology company’s stock worth $106,000 after buying an additional 227 shares during the last quarter. Sun Life Financial INC boosted its holdings in Palo Alto Networks by 785.0% in the 2nd quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock worth $134,000 after buying an additional 887 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Palo Alto Networks by 30.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock worth $188,000 after buying an additional 322 shares during the last quarter. Salem Investment Counselors Inc. acquired a new stake in Palo Alto Networks in the 1st quarter worth about $191,000. Finally, OLD National Bancorp IN acquired a new stake in Palo Alto Networks in the 2nd quarter worth about $201,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.
Several equities analysts recently issued reports on PANW shares. BidaskClub lowered Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. William Blair restated a “market perform” rating on shares of Palo Alto Networks in a research report on Tuesday, September 5th. Royal Bank Of Canada raised their price target on Palo Alto Networks from $145.00 to $159.00 and gave the stock an “outperform” rating in a research report on Friday, September 1st. Dougherty & Co restated a “buy” rating and set a $165.00 price target (up from $155.00) on shares of Palo Alto Networks in a research report on Tuesday, September 5th. Finally, Summit Redstone upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Tuesday, September 5th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirty have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $158.89.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
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