Insider Selling: Palo Alto Networks, Inc. (NASDAQ:PANW) CEO Sells $43,170,393.44 in Stock

Palo Alto Networks, Inc. (NASDAQ:PANWGet Free Report) CEO Nikesh Arora sold 235,492 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $183.32, for a total transaction of $43,170,393.44. Following the sale, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at approximately $199,159,581.28. The trade was a 17.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Nikesh Arora also recently made the following trade(s):

  • On Monday, January 6th, Nikesh Arora sold 176,242 shares of Palo Alto Networks stock. The shares were sold at an average price of $180.04, for a total value of $31,730,609.68.
  • On Thursday, October 10th, Nikesh Arora sold 163,172 shares of Palo Alto Networks stock. The stock was sold at an average price of $184.00, for a total value of $30,022,832.14.

Palo Alto Networks Stock Performance

PANW opened at $172.83 on Thursday. The company’s 50-day simple moving average is $191.49 and its two-hundred day simple moving average is $178.27. Palo Alto Networks, Inc. has a 52-week low of $130.04 and a 52-week high of $207.24. The stock has a market capitalization of $113.41 billion, a P/E ratio of 22.50, a P/E/G ratio of 5.75 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last issued its earnings results on Wednesday, November 20th. The network technology company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.04. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Palo Alto Networks had a net margin of 32.99% and a return on equity of 23.36%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the company posted $0.32 earnings per share. Research analysts forecast that Palo Alto Networks, Inc. will post 3.49 EPS for the current fiscal year.

Institutional Trading of Palo Alto Networks

Hedge funds have recently bought and sold shares of the company. Capital Advisors Ltd. LLC grew its stake in shares of Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 41 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Palo Alto Networks by 352.6% in the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 67 shares during the period. Strategic Investment Solutions Inc. IL boosted its holdings in shares of Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after buying an additional 55 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Palo Alto Networks during the third quarter valued at approximately $29,000. Finally, True Wealth Design LLC increased its holdings in Palo Alto Networks by 2,933.3% during the third quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock valued at $31,000 after buying an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Palo Alto Networks from $192.50 to $220.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Barclays cut their price target on shares of Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Robert W. Baird upped their price objective on shares of Palo Alto Networks from $212.50 to $217.50 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Northland Securities reissued a “market perform” rating and issued a $185.00 target price (up from $175.00) on shares of Palo Alto Networks in a research note on Thursday, November 21st. Finally, BMO Capital Markets boosted their price target on Palo Alto Networks from $195.00 to $212.50 and gave the company an “outperform” rating in a report on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus price target of $199.29.

Check Out Our Latest Research Report on Palo Alto Networks

Palo Alto Networks Company Profile

(Get Free Report)

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.

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Insider Buying and Selling by Quarter for Palo Alto Networks (NASDAQ:PANW)

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