Palo Alto Networks, Inc. (NASDAQ:PANW) CEO Sells $1,647,156.25 in Stock

Posted by on Jun 9th, 2022

Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) CEO Nikesh Arora sold 3,125 shares of the firm’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $527.09, for a total value of $1,647,156.25. Following the completion of the sale, the chief executive officer now owns 481,142 shares of the company’s stock, valued at $253,605,136.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Nikesh Arora also recently made the following trade(s):

  • On Wednesday, May 25th, Nikesh Arora sold 3,125 shares of Palo Alto Networks stock. The stock was sold at an average price of $500.52, for a total value of $1,564,125.00.
  • On Thursday, March 17th, Nikesh Arora sold 25,250 shares of Palo Alto Networks stock. The stock was sold at an average price of $552.67, for a total value of $13,954,917.50.

NASDAQ PANW traded down $8.73 during trading on Thursday, hitting $516.15. The company’s stock had a trading volume of 977,517 shares, compared to its average volume of 1,750,388. The company has a market cap of $51.43 billion, a PE ratio of -131.88 and a beta of 1.29. The business’s 50 day simple moving average is $547.13 and its 200-day simple moving average is $540.21. Palo Alto Networks, Inc. has a fifty-two week low of $351.00 and a fifty-two week high of $640.90.

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

A number of hedge funds and other institutional investors have recently modified their holdings of PANW. Profund Advisors LLC lifted its holdings in shares of Palo Alto Networks by 22.8% during the third quarter. Profund Advisors LLC now owns 926 shares of the network technology company’s stock worth $444,000 after purchasing an additional 172 shares during the period. Ensign Peak Advisors Inc lifted its holdings in shares of Palo Alto Networks by 18.8% during the third quarter. Ensign Peak Advisors Inc now owns 6,640 shares of the network technology company’s stock worth $3,181,000 after purchasing an additional 1,050 shares during the period. Neuberger Berman Group LLC lifted its holdings in shares of Palo Alto Networks by 1,265.6% during the third quarter. Neuberger Berman Group LLC now owns 181,326 shares of the network technology company’s stock worth $86,674,000 after purchasing an additional 168,048 shares during the period. Wealthspire Advisors LLC lifted its holdings in shares of Palo Alto Networks by 7.7% during the third quarter. Wealthspire Advisors LLC now owns 1,195 shares of the network technology company’s stock worth $572,000 after purchasing an additional 85 shares during the period. Finally, Penserra Capital Management LLC lifted its holdings in shares of Palo Alto Networks by 10.6% during the third quarter. Penserra Capital Management LLC now owns 343 shares of the network technology company’s stock worth $164,000 after purchasing an additional 33 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on PANW. KeyCorp raised their price target on Palo Alto Networks from $610.00 to $729.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 17th. BTIG Research lifted their target price on Palo Alto Networks from $610.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, April 8th. Raymond James reiterated a “buy” rating and set a $610.00 target price on shares of Palo Alto Networks in a research report on Friday, May 20th. JPMorgan Chase & Co. upgraded Palo Alto Networks from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $600.00 to $620.00 in a research report on Wednesday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Palo Alto Networks from $605.00 to $587.00 in a research report on Tuesday, May 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Buy” and an average target price of $626.48.

About Palo Alto Networks (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.

Further Reading

Insider Buying and Selling by Quarter for Palo Alto Networks (NASDAQ:PANW)

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