Insider Buying: Palo Alto Networks Inc (NYSE:PANW) CEO Buys 25,000 Shares of Stock

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Palo Alto Networks Inc (NYSE:PANW) CEO Nikesh Arora purchased 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were acquired at an average price of $221.54 per share, for a total transaction of $5,538,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 479,429 shares of the company’s stock, valued at approximately $106,212,700.66. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of NYSE PANW traded down $2.51 during mid-day trading on Monday, hitting $224.71. The company had a trading volume of 1,668,996 shares, compared to its average volume of 1,326,670. The company has a market capitalization of $22.26 billion, a price-to-earnings ratio of 356.68 and a beta of 0.94. Palo Alto Networks Inc has a 1 year low of $168.80 and a 1 year high of $260.63. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.20. The stock’s 50-day moving average price is $230.22 and its 200-day moving average price is $215.49.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Monday, November 25th. The network technology company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $1.22. The company had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $769.34 million. Palo Alto Networks had a positive return on equity of 2.43% and a negative net margin of 3.42%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.17 earnings per share. As a group, equities research analysts forecast that Palo Alto Networks Inc will post -0.12 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Carlson Capital L P grew its position in shares of Palo Alto Networks by 26.4% in the second quarter. Carlson Capital L P now owns 186,934 shares of the network technology company’s stock valued at $38,090,000 after purchasing an additional 39,057 shares in the last quarter. Cumberland Partners Ltd grew its position in Palo Alto Networks by 33.3% during the second quarter. Cumberland Partners Ltd now owns 2,000 shares of the network technology company’s stock worth $408,000 after buying an additional 500 shares in the last quarter. BBT Capital Management LLC purchased a new position in Palo Alto Networks during the second quarter worth about $756,000. Grandeur Peak Global Advisors LLC grew its position in Palo Alto Networks by 3.4% during the second quarter. Grandeur Peak Global Advisors LLC now owns 6,075 shares of the network technology company’s stock worth $1,238,000 after buying an additional 200 shares in the last quarter. Finally, Hartford Investment Management Co. grew its position in Palo Alto Networks by 2.9% during the second quarter. Hartford Investment Management Co. now owns 10,590 shares of the network technology company’s stock worth $2,158,000 after buying an additional 303 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Several brokerages have issued reports on PANW. JPMorgan Chase & Co. boosted their target price on Palo Alto Networks from $270.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Goldman Sachs Group began coverage on Palo Alto Networks in a research note on Tuesday, November 12th. They issued a “buy” rating and a $295.00 target price on the stock. SunTrust Banks restated a “buy” rating and issued a $246.00 target price on shares of Palo Alto Networks in a research note on Tuesday, November 26th. Bank of America lowered their target price on Palo Alto Networks from $307.00 to $275.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Finally, Credit Suisse Group restated a “sell” rating and issued a $195.00 target price on shares of Palo Alto Networks in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $261.06.

About Palo Alto Networks

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network 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.

See Also: Bull Market

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

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