Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report) EVP Lee Klarich sold 120,768 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $191.03, for a total value of $23,070,311.04. Following the completion of the transaction, the executive vice president directly owned 298,887 shares of the company's stock, valued at $57,096,383.61. This trade represents a 28.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Lee Klarich also recently made the following trade(s):
- On Wednesday, December 3rd, Lee Klarich sold 120,774 shares of Palo Alto Networks stock. The shares were sold at an average price of $191.91, for a total value of $23,177,738.34.
- On Monday, November 3rd, Lee Klarich sold 120,774 shares of Palo Alto Networks stock. The stock was sold at an average price of $217.94, for a total value of $26,321,485.56.
Palo Alto Networks Stock Performance
Shares of PANW opened at $188.88 on Tuesday. Palo Alto Networks, Inc. has a one year low of $144.15 and a one year high of $223.61. The stock's fifty day moving average is $193.23 and its 200-day moving average is $195.96. The firm has a market capitalization of $131.65 billion, a price-to-earnings ratio of 119.54, a price-to-earnings-growth ratio of 4.51 and a beta of 0.76.
Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.04. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.46 billion. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. Palo Alto Networks's revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.56 EPS. Analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.
Institutional Trading of Palo Alto Networks
Several institutional investors and hedge funds have recently bought and sold shares of PANW. Perkins Coie Trust Co boosted its holdings in shares of Palo Alto Networks by 0.8% in the fourth quarter. Perkins Coie Trust Co now owns 9,189 shares of the network technology company's stock worth $1,693,000 after buying an additional 70 shares during the period. First Merchants Corp raised its holdings in shares of Palo Alto Networks by 18.6% during the fourth quarter. First Merchants Corp now owns 3,764 shares of the network technology company's stock valued at $693,000 after acquiring an additional 590 shares during the period. LVM Capital Management Ltd. MI lifted its position in shares of Palo Alto Networks by 2.6% in the 4th quarter. LVM Capital Management Ltd. MI now owns 54,938 shares of the network technology company's stock valued at $10,120,000 after acquiring an additional 1,395 shares in the last quarter. Tilia Fiduciary Partners Inc. boosted its stake in Palo Alto Networks by 0.7% in the 4th quarter. Tilia Fiduciary Partners Inc. now owns 12,840 shares of the network technology company's stock worth $2,365,000 after purchasing an additional 89 shares during the period. Finally, PUREfi Wealth LLC purchased a new position in Palo Alto Networks during the 4th quarter worth approximately $215,000. Institutional investors and hedge funds own 79.82% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on PANW shares. UBS Group restated a "neutral" rating and issued a $220.00 target price (down from $230.00) on shares of Palo Alto Networks in a research report on Thursday, November 20th. Morgan Stanley restated an "overweight" rating and issued a $245.00 price objective (up previously from $228.00) on shares of Palo Alto Networks in a report on Thursday, December 18th. Sanford C. Bernstein lifted their target price on Palo Alto Networks from $207.00 to $210.00 and gave the stock an "outperform" rating in a report on Thursday, November 20th. Royal Bank Of Canada boosted their price target on shares of Palo Alto Networks from $232.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 12th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $240.00 price objective (up previously from $236.00) on shares of Palo Alto Networks in a research note on Thursday, November 20th. Thirty-one equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $227.99.
Read Our Latest Report on Palo Alto Networks
About Palo Alto Networks
(
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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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