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Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) EVP Lee Klarich sold 8,754 shares of the stock in a transaction that occurred on Tuesday, October 11th. The stock was sold at an average price of $161.26, for a total transaction of $1,411,670.04. Following the transaction, the executive vice president now directly owns 687,720 shares in the company, valued at approximately $110,901,727.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Lee Klarich also recently made the following trade(s):
- On Wednesday, August 10th, Lee Klarich sold 4,135 shares of Palo Alto Networks stock. The stock was sold at an average price of $514.72, for a total transaction of $2,128,367.20.
Palo Alto Networks Price Performance
Palo Alto Networks stock traded down $5.77 during mid-day trading on Tuesday, hitting $157.37. 4,743,966 shares of the company’s stock traded hands, compared to its average volume of 4,746,436. The firm has a 50 day simple moving average of $182.58 and a two-hundred day simple moving average of $178.82. Palo Alto Networks, Inc. has a fifty-two week low of $140.52 and a fifty-two week high of $213.63. The stock has a market cap of $47.09 billion, a price-to-earnings ratio of -173.57, a P/E/G ratio of 7.98 and a beta of 1.14.
Palo Alto Networks (NASDAQ:PANW – Get Rating) last posted its quarterly earnings data on Monday, August 22nd. The network technology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.08. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Palo Alto Networks had a negative return on equity of 42.61% and a negative net margin of 4.85%. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.21) EPS. On average, research analysts anticipate that Palo Alto Networks, Inc. will post 0.68 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. KeyCorp raised their price target on shares of Palo Alto Networks from $210.00 to $226.67 and gave the company an “overweight” rating in a report on Tuesday, August 23rd. Atlantic Securities started coverage on shares of Palo Alto Networks in a research report on Friday, September 2nd. They issued a “neutral” rating and a $165.00 price target on the stock. Raymond James raised their price target on shares of Palo Alto Networks from $203.33 to $213.33 in a research report on Tuesday, August 23rd. Stifel Nicolaus lifted their price objective on shares of Palo Alto Networks from $200.00 to $215.00 in a research report on Tuesday, August 23rd. Finally, Evercore ISI reiterated an “outperform” rating and issued a $207.00 price objective on shares of Palo Alto Networks in a research report on Thursday, October 6th. Four equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average target price of $219.13.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. Main Street Financial Solutions LLC boosted its stake in shares of Palo Alto Networks by 1.8% during the first quarter. Main Street Financial Solutions LLC now owns 1,076 shares of the network technology company’s stock valued at $670,000 after purchasing an additional 19 shares in the last quarter. Tealwood Asset Management Inc. lifted its stake in shares of Palo Alto Networks by 0.8% in the first quarter. Tealwood Asset Management Inc. now owns 2,566 shares of the network technology company’s stock worth $1,597,000 after acquiring an additional 20 shares during the period. Westhampton Capital LLC boosted its holdings in shares of Palo Alto Networks by 0.7% during the 1st quarter. Westhampton Capital LLC now owns 2,950 shares of the network technology company’s stock worth $1,836,000 after buying an additional 20 shares in the last quarter. Tandem Capital Management Corp ADV boosted its stake in Palo Alto Networks by 3.6% during the second quarter. Tandem Capital Management Corp ADV now owns 570 shares of the network technology company’s stock worth $282,000 after acquiring an additional 20 shares in the last quarter. Finally, Ellevest Inc. boosted its stake in Palo Alto Networks by 7.4% during the second quarter. Ellevest Inc. now owns 292 shares of the network technology company’s stock worth $144,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 86.17% of the company’s stock.
Palo Alto Networks Company Profile
(Get Rating)
Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on a customer's network, as well as their instances in public or private cloud environments, as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.
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