Palo Alto Networks Inc. (NYSE:PANW) CEO Mark D. Mclaughlin sold 4,404 shares of the business’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $148.98, for a total value of $656,107.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Palo Alto Networks Inc. (NYSE:PANW) opened at 151.22 on Friday. The company’s market cap is $13.74 billion. The firm has a 50-day moving average of $140.81 and a 200 day moving average of $139.45. Palo Alto Networks Inc. has a 52 week low of $111.09 and a 52 week high of $194.73.
Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Tuesday, August 30th. The network technology company reported $0.50 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.50. The business earned $400.80 million during the quarter, compared to the consensus estimate of $389.90 million. Palo Alto Networks had a negative net margin of 16.39% and a negative return on equity of 34.28%. The company’s revenue was up 41.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 earnings per share. Equities analysts expect that Palo Alto Networks Inc. will post $2.78 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Wunderlich Capital Managemnt purchased a new position in shares of Palo Alto Networks during the first quarter worth $103,000. Winslow Evans & Crocker Inc. increased its position in shares of Palo Alto Networks by 10.3% in the second quarter. Winslow Evans & Crocker Inc. now owns 814 shares of the network technology company’s stock worth $100,000 after buying an additional 76 shares during the period. Ayalon Holdings Ltd. increased its position in Palo Alto Networks by 110.0% in the second quarter. Ayalon Holdings Ltd. now owns 840 shares of the network technology company’s stock valued at $102,000 after buying an additional 440 shares during the period. Integrated Investment Consultants LLC increased its position in Palo Alto Networks by 6.7% in the second quarter. Integrated Investment Consultants LLC now owns 1,040 shares of the network technology company’s stock valued at $128,000 after buying an additional 65 shares during the period. Finally, Checchi Capital Advisers LLC increased its position in Palo Alto Networks by 128.3% in the second quarter. Checchi Capital Advisers LLC now owns 1,155 shares of the network technology company’s stock valued at $142,000 after buying an additional 649 shares during the period. Institutional investors and hedge funds own 80.06% of the company’s stock.
PANW has been the subject of a number of recent research reports. Deutsche Bank AG lowered Palo Alto Networks from a “buy” rating to a “hold” rating and lowered their target price for the company from $210.00 to $150.00 in a research note on Friday, May 27th. Zacks Investment Research lowered Palo Alto Networks from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 26th. Vetr lowered Palo Alto Networks from a “strong-buy” rating to a “buy” rating and set a $138.42 price target for the company. in a research report on Monday, August 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $185.00 price target on shares of Palo Alto Networks in a research report on Wednesday, August 17th. Finally, Goldman Sachs Group Inc. lowered their price target on Palo Alto Networks from $188.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, May 27th. Eight equities research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Palo Alto Networks currently has an average rating of “Buy” and an average price target of $180.96.
About Palo Alto Networks
Palo Alto Networks, Inc is a security company. The Company’s security platform consists of three elements: its Next-Generation Firewall, its Advanced Endpoint Protection, and its Threat Intelligence Cloud. The Company’s Next-Generation Firewall delivers application, user, and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
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