Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Sells $1,009,250.00 in Stock

Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Dipak Golechha sold 5,000 shares of the firm’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the transaction, the executive vice president now directly owns 101,135 shares of the company’s stock, valued at $20,414,099.75. The trade was a 4.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $201.69 on Wednesday. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39. The company has a market cap of $134.49 billion, a PE ratio of 115.25, a PEG ratio of 5.67 and a beta of 0.97. The firm has a 50-day moving average of $188.66 and a 200-day moving average of $185.20.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the business posted $0.66 earnings per share. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, equities research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palo Alto Networks

Several large investors have recently bought and sold shares of the stock. Transce3nd LLC purchased a new stake in shares of Palo Alto Networks in the fourth quarter valued at about $25,000. Strategic Investment Solutions Inc. IL grew its position in Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after buying an additional 79 shares during the last quarter. Anchor Investment Management LLC lifted its position in shares of Palo Alto Networks by 100.0% during the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock worth $28,000 after buying an additional 78 shares in the last quarter. Finally, Kiely Wealth Advisory Group Inc. boosted its stake in shares of Palo Alto Networks by 100.0% in the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock worth $29,000 after buying an additional 75 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on PANW. Northland Securities lowered their target price on Palo Alto Networks from $210.00 to $177.00 and set a “market perform” rating for the company in a research report on Wednesday, May 21st. Truist Financial lowered their price objective on Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Morgan Stanley reduced their target price on Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. HSBC upgraded shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price target for the company in a report on Thursday, April 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $223.00 price objective on shares of Palo Alto Networks in a research note on Monday, May 19th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

Palo Alto Networks Company Profile

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.