Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Sells $11,970,000.00 in Stock

Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the sale, the executive vice president now directly owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Nir Zuk also recently made the following trade(s):

• On Thursday, August 1st, Nir Zuk sold 36,000 shares of Palo Alto Networks stock. The stock was sold at an average price of $317.77, for a total transaction of $11,439,720.00.

Palo Alto Networks Stock Up 1.9 %

NASDAQ PANW opened at $342.36 on Friday. The company has a fifty day moving average of $337.94 and a two-hundred day moving average of $317.14. The firm has a market capitalization of $110.86 billion, a price-to-earnings ratio of 49.76, a PEG ratio of 4.87 and a beta of 1.13. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. Palo Alto Networks’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.80 earnings per share. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Pathway Financial Advisers LLC purchased a new position in Palo Alto Networks during the first quarter worth $25,000. Frank Rimerman Advisors LLC bought a new stake in shares of Palo Alto Networks during the fourth quarter worth $27,000. Financial Synergies Wealth Advisors Inc. lifted its position in shares of Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after purchasing an additional 96 shares during the last quarter. Central Bank & Trust Co. lifted its position in shares of Palo Alto Networks by 89.3% during the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. Finally, Cape Investment Advisory Inc. lifted its position in shares of Palo Alto Networks by 1,111.1% during the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PANW. Robert W. Baird increased their price objective on shares of Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Needham & Company LLC increased their price objective on shares of Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Barclays increased their price objective on shares of Palo Alto Networks from $350.00 to $370.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. increased their price objective on shares of Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Finally, BTIG Research raised their target price on shares of Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $369.26.

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.