Dipak Golechha Sells 500 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW) Stock

Posted by on Jun 8th, 2022

Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) CFO Dipak Golechha sold 500 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $525.00, for a total value of $262,500.00. Following the transaction, the chief financial officer now owns 30,780 shares of the company’s stock, valued at $16,159,500. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Palo Alto Networks stock traded up $12.98 during trading on Tuesday, reaching $527.00. 963,848 shares of the company’s stock were exchanged, compared to its average volume of 1,766,241. The company’s 50-day moving average is $550.74 and its two-hundred day moving average is $540.42. Palo Alto Networks, Inc. has a 52-week low of $351.00 and a 52-week high of $640.90. The firm has a market cap of $52.51 billion, a price-to-earnings ratio of -132.41 and a beta of 1.29.

Palo Alto Networks (NASDAQ:PANW – Get Rating) last posted its quarterly earnings data on Thursday, May 19th. The network technology company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.21). The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Palo Alto Networks had a negative net margin of 7.54% and a negative return on equity of 57.50%. The business’s quarterly revenue was up 29.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.62) earnings per share. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post -0.73 EPS for the current fiscal year.

PANW has been the subject of several research reports. The Goldman Sachs Group lifted their price objective on Palo Alto Networks from $650.00 to $700.00 in a research report on Tuesday, April 12th. Loop Capital cut their price objective on Palo Alto Networks from $530.00 to $510.00 and set a “hold” rating for the company in a research report on Wednesday, February 23rd. Jefferies Financial Group cut their price objective on Palo Alto Networks to $600.00 in a research report on Tuesday, May 17th. Raymond James reiterated a “buy” rating and issued a $610.00 price target on shares of Palo Alto Networks in a report on Friday, May 20th. Finally, KeyCorp boosted their price target on Palo Alto Networks from $610.00 to $729.00 and gave the company an “overweight” rating in a report on Tuesday, May 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirty have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $626.48.

A number of large investors have recently bought and sold shares of PANW. Nuveen Asset Management LLC boosted its position in Palo Alto Networks by 317.3% in the 4th quarter. Nuveen Asset Management LLC now owns 1,237,932 shares of the network technology company’s stock valued at $689,231,000 after buying an additional 941,271 shares during the last quarter. Norges Bank purchased a new position in Palo Alto Networks in the 4th quarter valued at about $522,352,000. Winslow Capital Management LLC purchased a new position in Palo Alto Networks in the 1st quarter valued at about $410,696,000. Liontrust Investment Partners LLP acquired a new stake in shares of Palo Alto Networks in the 3rd quarter valued at about $176,464,000. Finally, Cadian Capital Management LP raised its stake in shares of Palo Alto Networks by 75.6% in the 1st quarter. Cadian Capital Management LP now owns 551,653 shares of the network technology company’s stock valued at $343,410,000 after purchasing an additional 237,500 shares in the last quarter. 84.33% of the stock is owned by institutional investors.

Palo Alto Networks Company Profile (Get Rating)

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer's network and instances in public or private cloud environments, as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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