Key Points
- EVP Dipak Golechha sold 5,000 Palo Alto Networks shares on Dec. 23 at an average price of $188.18 for total proceeds of $940,900, cutting his stake by 3.12% to 155,119 shares, per an SEC filing.
- The company recently reported quarterly results of $0.93 EPS (vs. $0.89 expected) and $2.47 billion in revenue, a 15.7% year‑over‑year increase.
- Several analysts have raised price targets (Wolfe Research and RBC to $250), and MarketBeat shows an average rating of Moderate Buy with an average price target of $226.20.
Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report) EVP Dipak Golechha sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $188.18, for a total transaction of $940,900.00. Following the transaction, the executive vice president directly owned 155,119 shares of the company's stock, valued at $29,190,293.42. The trade was a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Palo Alto Networks Trading Down 0.8%
Shares of PANW stock opened at $186.85 on Tuesday. Palo Alto Networks, Inc. has a 12-month low of $144.15 and a 12-month high of $223.61. The stock has a market capitalization of $130.23 billion, a P/E ratio of 118.26, a P/E/G ratio of 4.48 and a beta of 0.79. The firm's 50 day moving average is $199.44 and its 200 day moving average is $196.96.
Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.04. Palo Alto Networks had a return on equity of 17.05% and a net margin of 11.69%.The firm had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.46 billion. During the same period in the prior year, the firm earned $1.56 EPS. The company's revenue was up 15.7% compared to the same quarter last year. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on PANW shares. Wolfe Research boosted their price objective on shares of Palo Alto Networks from $225.00 to $250.00 and gave the company an "outperform" rating in a research report on Monday, December 15th. Oppenheimer reissued an "outperform" rating and set a $245.00 price target on shares of Palo Alto Networks in a report on Thursday, November 20th. Royal Bank Of Canada upped their price target on Palo Alto Networks from $232.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 12th. Northland Securities lifted their price objective on Palo Alto Networks from $177.00 to $190.00 and gave the company a "market perform" rating in a research report on Thursday, November 20th. Finally, Piper Sandler reiterated an "overweight" rating and set a $230.00 price objective (up from $225.00) on shares of Palo Alto Networks in a research note on Thursday, November 20th. Thirty-one analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Palo Alto Networks currently has an average rating of "Moderate Buy" and an average price target of $226.20.
Check Out Our Latest Stock Analysis on PANW
Hedge Funds Weigh In On Palo Alto Networks
Several institutional investors have recently bought and sold shares of the stock. Mirova lifted its stake in Palo Alto Networks by 30.3% in the 3rd quarter. Mirova now owns 39,935 shares of the network technology company's stock worth $8,132,000 after purchasing an additional 9,287 shares in the last quarter. Advisors Management Group Inc. ADV lifted its position in shares of Palo Alto Networks by 32.7% in the third quarter. Advisors Management Group Inc. ADV now owns 23,894 shares of the network technology company's stock worth $4,865,000 after buying an additional 5,894 shares in the last quarter. Strategic Investment Advisors MI bought a new position in Palo Alto Networks during the third quarter valued at approximately $215,000. Garde Capital Inc. grew its holdings in Palo Alto Networks by 3.8% during the 3rd quarter. Garde Capital Inc. now owns 1,706 shares of the network technology company's stock valued at $347,000 after buying an additional 63 shares in the last quarter. Finally, Mirabella Financial Services LLP increased its stake in Palo Alto Networks by 162.3% in the 3rd quarter. Mirabella Financial Services LLP now owns 11,645 shares of the network technology company's stock worth $2,367,000 after acquiring an additional 7,205 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.
Palo Alto Networks Company Profile
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Get Free Report)
Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.
The company's product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.
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