Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Nir Zuk Sells 36,000 Shares

Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the transaction, the executive vice president now directly owns 1,115,567 shares in the company, valued at $370,926,027.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 value of $11,439,720.00.

Palo Alto Networks Stock Up 1.1 %

PANW traded up $3.81 during trading hours on Thursday, hitting $335.94. The stock had a trading volume of 2,009,655 shares, compared to its average volume of 4,132,277. The company’s fifty day simple moving average is $337.31 and its 200 day simple moving average is $316.36. Palo Alto Networks, Inc. has a 1 year low of $233.35 and a 1 year high of $380.84. The stock has a market cap of $109.38 billion, a PE ratio of 48.27, a price-to-earnings-growth ratio of 4.87 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results 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. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the company earned $0.80 EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PANW. Deutsche Bank Aktiengesellschaft upped their target price on Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Northland Securities upped their target price on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. upped their target price on Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. KeyCorp upped their target price on Palo Alto Networks from $380.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, Sanford C. Bernstein upped their target price on Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Twelve investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average target price of $369.26.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Kathmere Capital Management LLC increased its stake in shares of Palo Alto Networks by 3.4% during the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock valued at $312,000 after buying an additional 30 shares during the period. Cascade Investment Group Inc. grew its stake in Palo Alto Networks by 2.9% in the second quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock worth $376,000 after purchasing an additional 31 shares during the period. Sheets Smith Wealth Management grew its stake in Palo Alto Networks by 2.4% in the first quarter. Sheets Smith Wealth Management now owns 1,479 shares of the network technology company’s stock worth $420,000 after purchasing an additional 34 shares during the period. Pin Oak Investment Advisors Inc. grew its stake in Palo Alto Networks by 41.2% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 120 shares of the network technology company’s stock worth $35,000 after purchasing an additional 35 shares during the period. Finally, First County Bank CT grew its stake in Palo Alto Networks by 1.0% in the fourth quarter. First County Bank CT now owns 3,537 shares of the network technology company’s stock worth $1,043,000 after purchasing an additional 35 shares during the period. Institutional investors own 79.82% of the company’s stock.

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.