Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Sells $12,209,760.00 in Stock

Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $339.16, for a total value of $12,209,760.00. Following the transaction, the executive vice president now owns 1,223,567 shares of the company’s stock, valued at $414,984,983.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, June 3rd, Nir Zuk sold 36,000 shares of Palo Alto Networks stock. The stock was sold at an average price of $293.31, for a total transaction of $10,559,160.00.
• On Wednesday, May 1st, Nir Zuk sold 36,000 shares of Palo Alto Networks stock. The shares were sold at an average price of $288.24, for a total value of $10,376,640.00.

Palo Alto Networks Stock Up 0.2 %

Shares of NASDAQ PANW opened at $341.20 on Friday. Palo Alto Networks, Inc. has a fifty-two week low of $201.17 and a fifty-two week high of $380.84. The firm has a market cap of $110.48 billion, a PE ratio of 49.59, a price-to-earnings-growth ratio of 5.21 and a beta of 1.14. The business has a 50 day moving average price of $310.13 and a two-hundred day moving average price of $307.86.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results 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 net margin of 31.42% and a return on equity of 32.74%. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the business posted $0.38 EPS. The company’s quarterly revenue was up 15.3% on a year-over-year basis. On average, analysts anticipate that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

PANW has been the topic of several analyst reports. Evercore ISI lowered their target price on Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 14th. Daiwa Capital Markets initiated coverage on shares of Palo Alto Networks in a research report on Wednesday, May 29th. They set an “outperform” rating and a $350.00 target price on the stock. Macquarie lifted their price target on Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Needham & Company LLC restated a “buy” rating and set a $345.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Finally, BMO Capital Markets lifted their price target on shares of Palo Alto Networks from $327.00 to $334.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Twelve equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus target price of $326.29.

Hedge Funds Weigh In On Palo Alto Networks

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Beese Fulmer Investment Management Inc. acquired a new stake in Palo Alto Networks in the 2nd quarter valued at approximately $217,000. Modus Advisors LLC increased its holdings in shares of Palo Alto Networks by 2.1% during the second quarter. Modus Advisors LLC now owns 18,482 shares of the network technology company’s stock valued at $6,266,000 after purchasing an additional 374 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in shares of Palo Alto Networks by 1,767.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 11,767 shares of the network technology company’s stock valued at $3,989,000 after purchasing an additional 11,137 shares in the last quarter. First Hawaiian Bank acquired a new stake in Palo Alto Networks in the second quarter worth about $1,883,000. Finally, GAMMA Investing LLC grew its position in Palo Alto Networks by 49.6% in the 2nd quarter. GAMMA Investing LLC now owns 3,860 shares of the network technology company’s stock valued at $1,309,000 after buying an additional 1,280 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

About Palo Alto Networks

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.