Palo Alto Networks, Inc. (PANW) Insider Nir Zuk Sells 146,000 Shares
Palo Alto Networks, Inc. (NYSE:PANW) insider Nir Zuk sold 146,000 shares of the company’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $149.86, for a total transaction of $21,879,560.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Nir Zuk also recently made the following trade(s):
- On Monday, October 9th, Nir Zuk sold 21,743 shares of Palo Alto Networks stock. The stock was sold at an average price of $148.01, for a total value of $3,218,181.43.
- On Monday, October 2nd, Nir Zuk sold 2,000 shares of Palo Alto Networks stock. The stock was sold at an average price of $144.76, for a total value of $289,520.00.
- 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 1.01% during trading on Wednesday, hitting $149.00. The stock had a trading volume of 1,816,012 shares. The firm’s market cap is $13.68 billion. Palo Alto Networks, Inc. has a 52 week low of $107.31 and a 52 week high of $165.69. The company’s 50-day moving average is $140.68 and its 200 day moving average is $129.22.
Palo Alto Networks (NYSE:PANW) last released its earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.92). The business had revenue of $509.00 million during the quarter, compared to analyst estimates of $487.53 million. Palo Alto Networks had a negative net margin of 12.57% and a negative return on equity of 19.72%. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period last year, the business earned $0.50 EPS. Equities analysts expect that Palo Alto Networks, Inc. will post $3.33 EPS for the current fiscal year.
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PANW has been the subject of a number of research reports. BidaskClub cut Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. William Blair reiterated a “market perform” rating on shares of Palo Alto Networks in a report on Tuesday, September 5th. Royal Bank Of Canada boosted their target price on Palo Alto Networks from $145.00 to $159.00 and gave the stock an “outperform” rating in a report on Friday, September 1st. Dougherty & Co reiterated a “buy” rating and set a $165.00 target price (up previously from $155.00) on shares of Palo Alto Networks in a 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 target price for the company in a report on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirty-one have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $160.33.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PANW. Global X Management Co. LLC grew 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 valued at $106,000 after buying an additional 227 shares during the last quarter. Sun Life Financial INC grew 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 valued at $134,000 after buying an additional 887 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew 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 valued at $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 valued at approximately $191,000. Finally, OLD National Bancorp IN acquired a new stake in Palo Alto Networks in the 2nd quarter valued at approximately $201,000. 77.03% of the stock is currently owned by hedge funds and other institutional investors.
About Palo Alto Networks
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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