Palo Alto Networks (NYSE:PANW) CEO Mark D. Mclaughlin sold 40,000 shares of the business’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $179.34, for a total value of $7,173,600.00. Following the sale, the chief executive officer now owns 296,450 shares in the company, valued at approximately $53,165,343. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of PANW stock opened at $193.84 on Friday. The company has a market cap of $17,381.37, a PE ratio of -113.36 and a beta of 0.93. Palo Alto Networks has a 1-year low of $107.37 and a 1-year high of $197.20.
Palo Alto Networks (NYSE:PANW) last announced its earnings results on Monday, February 26th. The network technology company reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.19). The business had revenue of $542.40 million for the quarter, compared to analyst estimates of $525.37 million. Palo Alto Networks had a negative return on equity of 14.74% and a negative net margin of 9.96%. research analysts anticipate that Palo Alto Networks will post -0.37 earnings per share for the current year.
A number of brokerages have recently weighed in on PANW. Monness Crespi & Hardt boosted their price target on Palo Alto Networks from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, March 22nd. Zacks Investment Research upgraded Palo Alto Networks from a “sell” rating to a “hold” rating in a research note on Thursday, March 8th. ValuEngine upgraded Palo Alto Networks from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Oppenheimer upped their target price on Palo Alto Networks from $180.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Finally, Royal Bank of Canada upped their target price on Palo Alto Networks to $200.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and thirty-nine have given a buy rating to the company’s stock. Palo Alto Networks has an average rating of “Buy” and an average price target of $181.86.
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About Palo Alto Networks
Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.
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