Palo Alto Networks, Inc. (NASDAQ:PANW) President William D. Jenkins, Jr. Sells 1,475 Shares

Palo Alto Networks, Inc. (NASDAQ:PANW) President William D. Jenkins, Jr. sold 1,475 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the transaction, the president now owns 19,026 shares of the company’s stock, valued at $6,452,097.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $341.20 on Thursday. The business has a fifty day moving average price of $309.18 and a 200 day moving average price of $307.63. Palo Alto Networks, Inc. has a one year low of $201.17 and a one year high of $380.84. The company has a market cap of $110.48 billion, a P/E ratio of 49.59, a P/E/G ratio of 5.19 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the company earned $0.38 EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Redburn Atlantic upped their price objective on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. JPMorgan Chase & Co. upped their price objective on shares of Palo Alto Networks from $330.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Sanford C. Bernstein upped their price objective on shares of Palo Alto Networks from $335.00 to $364.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. KeyCorp upped their price objective on shares of Palo Alto Networks from $355.00 to $384.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Finally, Royal Bank of Canada cut their price objective on shares of Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. Twelve research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $326.29.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks in the 1st quarter worth $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Palo Alto Networks in the 4th quarter worth $27,000. Financial Synergies Wealth Advisors Inc. grew its holdings in shares of Palo Alto Networks by 3,200.0% during the 1st 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 period. Webster Bank N. A. grew its holdings in shares of Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after purchasing an additional 85 shares during the period. Finally, Cedar Mountain Advisors LLC grew its holdings in shares of Palo Alto Networks by 87.0% during the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after purchasing an additional 47 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

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.