Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report) EVP Lee Klarich sold 60,000 shares of the firm's stock in a transaction on Friday, April 5th. The shares were 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 directly owns 174,075 shares of the company's stock, valued at approximately $46,659,063. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Lee Klarich also recently made the following trade(s):
- On Monday, March 11th, Lee Klarich sold 60,000 shares of Palo Alto Networks stock. The shares were sold at an average price of $284.33, for a total value of $17,059,800.00.
- On Monday, January 29th, Lee Klarich sold 45,000 shares of Palo Alto Networks stock. The shares were sold at an average price of $343.03, for a total value of $15,436,350.00.
Palo Alto Networks Trading Up 3.9 %
Shares of NASDAQ PANW opened at $279.13 on Wednesday. Palo Alto Networks, Inc. has a twelve month low of $176.30 and a twelve month high of $380.84. The company has a market capitalization of $90.19 billion, a price-to-earnings ratio of 43.61, a price-to-earnings-growth ratio of 3.67 and a beta of 1.19. The business has a 50 day simple moving average of $307.27 and a 200-day simple moving average of $288.61.
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Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.22. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Palo Alto Networks in the fourth quarter worth $751,276,000. International Assets Investment Management LLC grew its stake in shares of Palo Alto Networks by 29,086.9% in 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 purchasing an additional 2,050,917 shares in the last quarter. Moneta Group Investment Advisors LLC bought a new position in shares of Palo Alto Networks in the fourth quarter worth $204,728,000. Jennison Associates LLC grew its stake in shares of Palo Alto Networks by 83.1% in the fourth quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company's stock worth $771,643,000 after purchasing an additional 1,187,915 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Palo Alto Networks by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company's stock worth $8,129,800,000 after purchasing an additional 1,058,127 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on PANW. Piper Sandler downgraded Palo Alto Networks from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $350.00 to $300.00 in a research note on Wednesday, February 21st. Scotiabank cut their price target on Palo Alto Networks from $363.00 to $337.00 and set a "sector outperform" rating for the company in a research note on Wednesday, February 21st. JMP Securities reaffirmed a "market outperform" rating and set a $380.00 price target on shares of Palo Alto Networks in a research note on Wednesday, February 21st. Truist Financial lifted their price objective on Palo Alto Networks from $330.00 to $385.00 and gave the stock a "buy" rating in a research report on Tuesday, February 20th. Finally, Barclays dropped their price objective on Palo Alto Networks from $400.00 to $345.00 and set an "overweight" rating for the company in a research report on Wednesday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $314.82.
View Our Latest Stock Report on PANW
Palo Alto Networks Company Profile
(
Get Free Report)
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.
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