Key Points
- EVP Lee Klarich sold 120,774 shares on December 3 at an average price of $191.91 for a total of $23,177,738.34, leaving him with 327,645 shares (a 26.93% reduction in his position).
- Klarich executed the same-sized sales on November 3 and October 6 as well, for roughly $26.32M and $25.59M respectively, signaling multiple recent insider dispositions.
- Palo Alto Networks recently beat quarterly estimates with $0.93 EPS and $2.47B revenue (revenue up 15.7% YoY), and analysts hold a consensus of "Moderate Buy" with an average price target of $225.09.
Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report) EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $191.91, for a total transaction of $23,177,738.34. Following the sale, the executive vice president directly owned 327,645 shares of the company's stock, valued at $62,878,351.95. This represents a 26.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Lee Klarich also recently made the following trade(s):
- On Monday, November 3rd, Lee Klarich sold 120,774 shares of Palo Alto Networks stock. The shares were sold at an average price of $217.94, for a total transaction of $26,321,485.56.
- On Monday, October 6th, Lee Klarich sold 120,774 shares of Palo Alto Networks stock. The stock was sold at an average price of $211.92, for a total transaction of $25,594,426.08.
Palo Alto Networks Price Performance
Shares of PANW opened at $195.68 on Friday. The firm has a 50 day simple moving average of $206.05 and a two-hundred day simple moving average of $197.20. Palo Alto Networks, Inc. has a one year low of $144.15 and a one year high of $223.61. The company has a market cap of $136.39 billion, a P/E ratio of 123.85, a P/E/G ratio of 4.58 and a beta of 0.79.
Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.04. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. Palo Alto Networks had a return on equity of 17.05% and a net margin of 11.69%.The company's revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.56 EPS. On average, analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.
Institutional Trading of Palo Alto Networks
Large investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Palo Alto Networks during the first quarter worth about $261,000. Strive Asset Management LLC boosted its stake in Palo Alto Networks by 16.6% during the 1st quarter. Strive Asset Management LLC now owns 2,099 shares of the network technology company's stock valued at $358,000 after purchasing an additional 299 shares during the last quarter. Schroder Investment Management Group increased its holdings in Palo Alto Networks by 7.9% during the 2nd quarter. Schroder Investment Management Group now owns 2,234,551 shares of the network technology company's stock worth $457,279,000 after purchasing an additional 163,718 shares in the last quarter. Richmond Investment Services LLC increased its holdings in Palo Alto Networks by 87.2% during the 2nd quarter. Richmond Investment Services LLC now owns 3,286 shares of the network technology company's stock worth $672,000 after purchasing an additional 1,531 shares in the last quarter. Finally, Oak Associates Ltd. OH purchased a new stake in shares of Palo Alto Networks in the second quarter worth approximately $904,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on PANW shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of Palo Alto Networks in a report on Monday, November 24th. Guggenheim raised their price objective on Palo Alto Networks from $130.00 to $135.00 and gave the stock a "sell" rating in a research report on Tuesday, August 19th. BMO Capital Markets lifted their price objective on Palo Alto Networks from $225.00 to $230.00 and gave the stock an "outperform" rating in a research note on Monday, November 17th. The Goldman Sachs Group reissued a "buy" rating and set a $240.00 target price (up previously from $236.00) on shares of Palo Alto Networks in a research report on Thursday, November 20th. Finally, Barclays boosted their price target on shares of Palo Alto Networks from $215.00 to $230.00 and gave the stock an "overweight" rating in a research report on Monday, November 10th. Thirty research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $225.09.
View Our Latest Analysis on Palo Alto Networks
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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