Insider Selling: Palo Alto Networks Inc (PANW) CEO Sells 35,000 Shares of Stock

Palo Alto Networks Inc (NYSE:PANW) CEO Mark D. Mclaughlin sold 35,000 shares of the company’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $149.50, for a total value of $5,232,500.00. Following the completion of the sale, the chief executive officer now owns 348,901 shares of the company’s stock, valued at $52,160,699.50. The transaction was disclosed in a filing with the SEC, which is available through this link.

Palo Alto Networks Inc (PANW) traded up $3.71 on Friday, hitting $152.97. 1,407,554 shares of the company’s stock traded hands, compared to its average volume of 1,031,714. Palo Alto Networks Inc has a twelve month low of $107.31 and a twelve month high of $157.65. The company has a market cap of $14,060.00, a P/E ratio of -62.18 and a beta of 0.99.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Monday, November 20th. The network technology company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.68 by $0.06. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. The business had revenue of $505.50 million during the quarter, compared to the consensus estimate of $489.36 million. During the same quarter in the prior year, the firm earned $0.55 EPS. The business’s revenue was up 27.0% on a year-over-year basis. equities research analysts predict that Palo Alto Networks Inc will post -0.37 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP lifted its holdings in shares of Palo Alto Networks by 55.1% in the 3rd quarter. First Trust Advisors LP now owns 204,302 shares of the network technology company’s stock valued at $29,440,000 after acquiring an additional 72,573 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Palo Alto Networks by 32.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 95,049 shares of the network technology company’s stock valued at $12,719,000 after acquiring an additional 23,292 shares during the last quarter. Cambridge Trust Co. lifted its holdings in shares of Palo Alto Networks by 48.5% in the 3rd quarter. Cambridge Trust Co. now owns 137,115 shares of the network technology company’s stock valued at $19,758,000 after acquiring an additional 44,759 shares during the last quarter. Trellus Management Company LLC bought a new position in shares of Palo Alto Networks in the 3rd quarter valued at about $461,000. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Palo Alto Networks by 23.0% in the 3rd quarter. Teacher Retirement System of Texas now owns 292,185 shares of the network technology company’s stock valued at $42,104,000 after acquiring an additional 54,550 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on PANW shares. Oppenheimer restated a “buy” rating and issued a $180.00 price objective (up from $173.00) on shares of Palo Alto Networks in a research note on Tuesday, November 21st. Northland Securities set a $175.00 price objective on Palo Alto Networks and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Zacks Investment Research lowered Palo Alto Networks from a “hold” rating to a “sell” rating in a research note on Monday, November 13th. Telsey Advisory Group upped their price objective on Palo Alto Networks from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 22nd. Finally, Sanford C. Bernstein upped their price objective on Palo Alto Networks from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 21st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty-two have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $164.89.

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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.

Insider Buying and Selling by Quarter for Palo Alto Networks (NYSE:PANW)

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