Palo Alto Networks Insider Sells $2,410,500 in Stock (PANW)

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Palo Alto Networks (NASDAQ:PANW) Insider Nir Zuk sold 30,000 shares of the stock on the open market in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $80.35, for a total value of $2,410,500.00. Following the completion of the sale, the insider now directly owns 2,789,836 shares of the company’s stock, valued at approximately $224,163,323. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Several analysts have recently commented on the stock. Analysts at Piper Jaffray initiated coverage on shares of Palo Alto Networks in a research note on Tuesday. They set an “overweight” rating and a $100.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Palo Alto Networks from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 29th. They now have a $83.10 price target on the stock. Finally, analysts at Pacific Crest reiterated an “outperform” rating on shares of Palo Alto Networks in a research note on Thursday, July 17th. They now have a $105.00 price target on the stock, up previously from $90.00. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. Palo Alto Networks currently has a consensus rating of “Buy” and a consensus price target of $85.87.

Shares of Palo Alto Networks (NASDAQ:PANW) opened at 81.26 on Wednesday. Palo Alto Networks has a 1-year low of $40.36 and a 1-year high of $85.78. The stock’s 50-day moving average is $80.08 and its 200-day moving average is $72.43. The company’s market cap is $6.263 billion.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Wednesday, May 28th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $150.70 million for the quarter, compared to the consensus estimate of $146.13 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 48.8% on a year-over-year basis. Analysts expect that Palo Alto Networks will post $0.40 EPS for the current fiscal year.

Palo Alto Networks, Inc offers a network security platform that allows enterprises, service providers, and government entities to secure their networks.

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