Insider Selling: Palo Alto Networks, Inc. (NASDAQ:PANW) Director Sells 2,163 Shares of Stock

Palo Alto Networks, Inc. (NASDAQ:PANWGet Free Report) Director John P. Key sold 2,163 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $305.41, for a total value of $660,601.83. Following the sale, the director now owns 12,639 shares in the company, valued at $3,860,076.99. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock opened at $309.05 on Tuesday. Palo Alto Networks, Inc. has a 1-year low of $201.17 and a 1-year high of $380.84. The business’s fifty day moving average price is $294.12 and its two-hundred day moving average price is $304.09. The company has a market capitalization of $100.07 billion, a P/E ratio of 44.92, a PEG ratio of 4.65 and a beta of 1.10.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last released its earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the company earned $0.38 earnings per share. Palo Alto Networks’s revenue was up 15.3% compared to the same quarter last year. On average, research analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Aptus Capital Advisors LLC increased its stake in Palo Alto Networks by 89.9% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,965 shares of the network technology company’s stock worth $461,000 after purchasing an additional 930 shares in the last quarter. Greenleaf Trust increased its position in shares of Palo Alto Networks by 29.0% in the third quarter. Greenleaf Trust now owns 4,379 shares of the network technology company’s stock worth $1,027,000 after acquiring an additional 985 shares in the last quarter. Kensington Investment Counsel LLC raised its holdings in shares of Palo Alto Networks by 5.4% during the third quarter. Kensington Investment Counsel LLC now owns 2,357 shares of the network technology company’s stock valued at $553,000 after acquiring an additional 120 shares during the period. Hunter Associates Investment Management LLC lifted its position in shares of Palo Alto Networks by 9.8% in the 3rd quarter. Hunter Associates Investment Management LLC now owns 7,047 shares of the network technology company’s stock valued at $1,645,000 after acquiring an additional 627 shares in the last quarter. Finally, Marsico Capital Management LLC boosted its stake in Palo Alto Networks by 0.7% in the 3rd quarter. Marsico Capital Management LLC now owns 40,263 shares of the network technology company’s stock worth $9,439,000 after purchasing an additional 299 shares during the period. Institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on PANW shares. Royal Bank of Canada dropped their target price on Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. Piper Sandler lowered Palo Alto Networks from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $350.00 to $300.00 in a research note on Wednesday, February 21st. Mizuho lowered their price objective on Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Daiwa America upgraded Palo Alto Networks to a “strong-buy” rating in a research note on Wednesday, May 29th. Finally, Susquehanna raised their price objective on Palo Alto Networks from $325.00 to $340.00 and gave the company a “positive” rating in a research note on Tuesday, May 21st. Twelve equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $322.78.

Read Our Latest Stock Analysis on Palo Alto Networks

About Palo Alto Networks

(Get Free Report)

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.

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

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