Palo Alto Networks Inc. (NYSE:PANW) President Mark Anderson sold 19,210 shares of Palo Alto Networks stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $153.23, for a total transaction of $2,943,548.30. Following the completion of the transaction, the president now directly owns 273,202 shares of the company’s stock, valued at approximately $41,862,742.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Mark Anderson also recently made the following trade(s):
- On Wednesday, September 21st, Mark Anderson sold 2,202 shares of Palo Alto Networks stock. The stock was sold at an average price of $148.98, for a total transaction of $328,053.96.
Palo Alto Networks Inc. (NYSE:PANW) opened at 154.56 on Thursday. The company has a 50 day moving average price of $142.68 and a 200-day moving average price of $139.32. The firm’s market capitalization is $14.04 billion. 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 had revenue of $400.80 million for the quarter, compared to analyst estimates of $389.90 million. Palo Alto Networks had a negative return on equity of 34.28% and a negative net margin of 16.39%. Palo Alto Networks’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS. Equities analysts predict that Palo Alto Networks Inc. will post $2.78 earnings per share for the current year.
Several equities analysts have recently issued reports on PANW shares. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $177.00 price target on shares of Palo Alto Networks in a report on Thursday, September 1st. Wunderlich reissued a “buy” rating on shares of Palo Alto Networks in a report on Wednesday, July 6th. Nomura reissued a “buy” rating and set a $200.00 price target on shares of Palo Alto Networks in a report on Wednesday, August 24th. Citigroup Inc. reduced their price target on shares of Palo Alto Networks from $145.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, August 31st. Finally, Zacks Investment Research raised shares of Palo Alto Networks from a “strong sell” rating to a “hold” rating in a report on Thursday, September 1st. Eight analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $180.96.
A number of large investors have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. raised its stake in shares of Palo Alto Networks by 2.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 7,540 shares of the network technology company’s stock worth $1,328,000 after buying an additional 160 shares in the last quarter. Norges Bank purchased a new stake in shares of Palo Alto Networks during the fourth quarter worth $51,647,000. Aperio Group LLC raised its stake in shares of Palo Alto Networks by 1.5% in the first quarter. Aperio Group LLC now owns 15,047 shares of the network technology company’s stock worth $2,455,000 after buying an additional 220 shares in the last quarter. Mn Services Vermogensbeheer B.V. purchased a new stake in shares of Palo Alto Networks during the first quarter worth $292,000. Finally, Cornerstone Financial Partners LLC purchased a new stake in shares of Palo Alto Networks during the first quarter worth $1,453,000. Institutional investors and hedge funds own 80.06% of the company’s stock.
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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