Palo Alto Networks (NASDAQ:PANW) Stock Price Down 0% Following Insider Selling

Palo Alto Networks, Inc. (NASDAQ:PANW) shares fell 0% on Wednesday after an insider sold shares in the company. The company traded as low as $275.00 and last traded at $279.12. 1,142,628 shares were traded during mid-day trading, a decline of 80% from the average session volume of 5,756,263 shares. The stock had previously closed at $279.13.

Specifically, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Friday, April 5th. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00. Following the completion of the sale, the executive vice president now owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Friday, April 5th. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00. Following the completion of the sale, the executive vice president now owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the sale, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The disclosure for this sale can be found here. In the last quarter, insiders sold 183,017 shares of company stock valued at $54,379,087. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PANW shares. Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a research note on Monday, January 29th. Capital One Financial downgraded Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price target on the stock. in a research note on Wednesday, February 21st. JMP Securities restated a “market outperform” rating and issued a $380.00 price target on shares of Palo Alto Networks in a research note on Wednesday, February 21st. Truist Financial raised their price target on Palo Alto Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Finally, Northland Securities downgraded Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 target price on the stock. in a research report on Wednesday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $314.82.

Palo Alto Networks Stock Up 0.7 %

The company has a fifty day moving average price of $306.12 and a 200-day moving average price of $288.56. The stock has a market capitalization of $90.79 billion, a P/E ratio of 43.91, a PEG ratio of 3.66 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. As a group, research analysts expect that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Palo Alto Networks

Several large investors have recently added to or reduced their stakes in PANW. Norges Bank bought a new stake in Palo Alto Networks during the fourth quarter worth approximately $751,276,000. International Assets Investment Management LLC increased its stake in Palo Alto Networks by 29,086.9% during the fourth quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock worth $606,854,000 after acquiring an additional 2,050,917 shares during the last quarter. Moneta Group Investment Advisors LLC bought a new stake in Palo Alto Networks during the fourth quarter worth approximately $204,728,000. Jennison Associates LLC boosted its position in shares of Palo Alto Networks by 83.1% during the fourth quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock valued at $771,643,000 after buying an additional 1,187,915 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Palo Alto Networks by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock valued at $8,129,800,000 after buying an additional 1,058,127 shares during the period. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.