Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Sells $65,081,520.00 in Stock

Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Nir Zuk sold 168,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $387.39, for a total transaction of $65,081,520.00. Following the sale, the executive vice president now directly owns 1,821,758 shares of the company’s stock, valued at $705,730,831.62. This represents a 8.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, October 1st, Nir Zuk sold 36,000 shares of Palo Alto Networks stock. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock traded up $10.02 on Tuesday, hitting $396.40. The company had a trading volume of 2,849,945 shares, compared to its average volume of 3,863,863. The business has a 50-day simple moving average of $365.13 and a 200-day simple moving average of $340.53. The company has a market cap of $129.07 billion, a PE ratio of 50.31, a PEG ratio of 5.51 and a beta of 1.12. Palo Alto Networks, Inc. has a 52 week low of $260.09 and a 52 week high of $408.53.

Palo Alto Networks shares are set to split before the market opens on Monday, December 16th. The 2-1 split was announced on Wednesday, November 20th. The newly issued shares will be issued to shareholders after the market closes on Friday, December 13th.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Wednesday, November 20th. The network technology company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.08. Palo Alto Networks had a net margin of 32.99% and a return on equity of 23.36%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The company’s revenue was up 13.9% compared to the same quarter last year. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PANW has been the subject of several research reports. Hsbc Global Res cut shares of Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research note on Friday. BTIG Research increased their price objective on shares of Palo Alto Networks from $395.00 to $414.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. KeyCorp increased their price objective on shares of Palo Alto Networks from $400.00 to $435.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. The Goldman Sachs Group increased their target price on shares of Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, DA Davidson raised their price objective on shares of Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $402.03.

Hedge Funds Weigh In On Palo Alto Networks

Institutional investors have recently modified their holdings of the stock. Tradewinds LLC. increased its holdings in shares of Palo Alto Networks by 1.2% in the third quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock valued at $791,000 after purchasing an additional 28 shares during the last quarter. Kathmere Capital Management LLC increased its position in Palo Alto Networks by 3.4% during the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock valued at $312,000 after purchasing an additional 30 shares during the period. FLC Capital Advisors increased its position in Palo Alto Networks by 0.7% during the 3rd quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after purchasing an additional 30 shares during the period. Cromwell Holdings LLC grew its position in shares of Palo Alto Networks by 3.0% during the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after buying an additional 30 shares during the period. Finally, Rosenberg Matthew Hamilton lifted its stake in shares of Palo Alto Networks by 9.4% in the third quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock valued at $119,000 after buying an additional 30 shares in the last quarter. 79.82% of the stock is owned by institutional investors.

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.