Nir Zuk Sells 12,000 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW) Stock

Palo Alto Networks, Inc. (NASDAQ:PANWGet Rating) EVP Nir Zuk sold 12,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $500.58, for a total transaction of $6,006,960.00. Following the completion of the sale, the executive vice president now directly owns 671,812 shares in the company, valued at $336,295,650.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

  • On Friday, July 1st, Nir Zuk sold 12,000 shares of Palo Alto Networks stock. The shares were sold at an average price of $501.62, for a total transaction of $6,019,440.00.
  • On Wednesday, June 1st, Nir Zuk sold 12,000 shares of Palo Alto Networks stock. The shares were sold at an average price of $506.01, for a total transaction of $6,072,120.00.

Palo Alto Networks Trading Up 3.6 %

NASDAQ PANW opened at $529.07 on Thursday. The firm has a market capitalization of $52.71 billion, a price-to-earnings ratio of -132.93, a P/E/G ratio of 22.76 and a beta of 1.18. The firm’s 50 day simple moving average is $502.18 and its 200 day simple moving average is $530.34. Palo Alto Networks, Inc. has a 1 year low of $358.37 and a 1 year high of $640.90.

Palo Alto Networks (NASDAQ:PANWGet Rating) last posted its quarterly earnings results on Thursday, May 19th. The network technology company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.21). The firm had revenue of $1.39 billion for 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%. The business’s revenue was up 29.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.62) EPS. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post -0.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PANW. Cowen reaffirmed a “buy” rating and issued a $620.00 target price on shares of Palo Alto Networks in a report on Friday, May 20th. Citigroup dropped their target price on shares of Palo Alto Networks from $610.00 to $605.00 in a report on Friday, July 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Palo Alto Networks from $605.00 to $587.00 in a report on Tuesday, May 17th. Jefferies Financial Group lowered their price target on shares of Palo Alto Networks to $600.00 in a report on Tuesday, May 17th. Finally, Piper Sandler lowered their price target on shares of Palo Alto Networks from $675.00 to $650.00 in a report on Wednesday, July 13th. Three equities research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company. According to data from MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus target price of $630.88.

Hedge Funds Weigh In On Palo Alto Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Main Street Financial Solutions LLC lifted its stake in Palo Alto Networks by 1.8% in the 1st quarter. Main Street Financial Solutions LLC now owns 1,076 shares of the network technology company’s stock valued at $670,000 after purchasing an additional 19 shares during the last quarter. Tealwood Asset Management Inc. raised its stake in shares of Palo Alto Networks by 0.8% during the first quarter. Tealwood Asset Management Inc. now owns 2,566 shares of the network technology company’s stock valued at $1,597,000 after acquiring an additional 20 shares during the last quarter. Westhampton Capital LLC raised its stake in shares of Palo Alto Networks by 0.7% during the first quarter. Westhampton Capital LLC now owns 2,950 shares of the network technology company’s stock valued at $1,836,000 after acquiring an additional 20 shares during the last quarter. Tandem Capital Management Corp ADV raised its stake in shares of Palo Alto Networks by 3.6% during the second quarter. Tandem Capital Management Corp ADV now owns 570 shares of the network technology company’s stock valued at $282,000 after acquiring an additional 20 shares during the last quarter. Finally, Ellevest Inc. raised its stake in shares of Palo Alto Networks by 7.4% during the second quarter. Ellevest Inc. now owns 292 shares of the network technology company’s stock valued at $144,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

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.

Further Reading

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

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