Palo Alto Networks Inc (NYSE:PANW) EVP Lee Klarich sold 4,925 shares of the company’s stock in a transaction on Tuesday, July 10th. The stock was sold at an average price of $209.90, for a total value of $1,033,757.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Lee Klarich also recently made the following trade(s):
- On Tuesday, June 12th, Lee Klarich sold 8,894 shares of Palo Alto Networks stock. The stock was sold at an average price of $202.08, for a total value of $1,797,299.52.
Shares of NYSE PANW traded up $5.53 during trading on Thursday, hitting $218.32. The company had a trading volume of 1,318,063 shares, compared to its average volume of 1,443,546. Palo Alto Networks Inc has a 12 month low of $126.56 and a 12 month high of $219.19. The company has a market capitalization of $19.57 billion, a P/E ratio of -127.68 and a beta of 0.92.
Palo Alto Networks (NYSE:PANW) last released its earnings results on Monday, June 4th. The network technology company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.08. Palo Alto Networks had a negative return on equity of 8.51% and a negative net margin of 8.65%. The firm had revenue of $567.10 million during the quarter, compared to analysts’ expectations of $545.79 million. analysts forecast that Palo Alto Networks Inc will post -0.27 EPS for the current fiscal year.
A number of equities research analysts have recently commented on PANW shares. Monness Crespi & Hardt increased their target price on Palo Alto Networks from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, March 22nd. ValuEngine raised Palo Alto Networks from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Stifel Nicolaus increased their target price on Palo Alto Networks from $200.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, May 30th. Jefferies Financial Group increased their target price on Palo Alto Networks from $206.00 to $239.00 and gave the stock a “buy” rating in a research note on Monday, June 4th. Finally, Royal Bank of Canada increased their target price on Palo Alto Networks to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and thirty-seven have given a buy rating to the stock. Palo Alto Networks has a consensus rating of “Buy” and an average target price of $198.93.
Large investors have recently added to or reduced their stakes in the stock. FTB Advisors Inc. grew its holdings in Palo Alto Networks by 531.0% during the 1st quarter. FTB Advisors Inc. now owns 1,830 shares of the network technology company’s stock valued at $331,000 after buying an additional 1,540 shares in the last quarter. Engineers Gate Manager LP grew its holdings in Palo Alto Networks by 11.9% during the 1st quarter. Engineers Gate Manager LP now owns 40,984 shares of the network technology company’s stock valued at $7,439,000 after buying an additional 4,358 shares in the last quarter. IBM Retirement Fund purchased a new position in Palo Alto Networks during the 1st quarter valued at approximately $480,000. Scout Investments Inc. grew its holdings in Palo Alto Networks by 61.9% during the 1st quarter. Scout Investments Inc. now owns 104,991 shares of the network technology company’s stock valued at $19,058,000 after buying an additional 40,133 shares in the last quarter. Finally, Geneva Partners LLC purchased a new position in Palo Alto Networks during the 1st quarter valued at approximately $3,415,000. Hedge funds and other institutional investors own 80.62% of the company’s stock.
About Palo Alto Networks
Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.
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