Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Lee Klarich Sells 121,276 Shares

Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Lee Klarich sold 121,276 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $299.60, for a total value of $36,334,289.60. Following the completion of the sale, the executive vice president now owns 166,542 shares in the company, valued at approximately $49,895,983.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Lee Klarich also recently made the following trade(s):

• On Friday, April 5th, Lee Klarich sold 60,000 shares of Palo Alto Networks stock. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00.
• On Monday, March 11th, Lee Klarich sold 60,000 shares of Palo Alto Networks stock. The stock was sold at an average price of $284.33, for a total value of $17,059,800.00.

Palo Alto Networks Stock Down 0.8 %

PANW stock opened at $303.01 on Thursday. The business has a fifty day moving average of $285.75 and a two-hundred day moving average of $294.47. The stock has a market cap of $97.90 billion, a price-to-earnings ratio of 47.35, a price-to-earnings-growth ratio of 4.03 and a beta of 1.18. Palo Alto Networks, Inc. has a 52-week low of $186.75 and a 52-week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. As a group, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 2.77 EPS for the current year.

Institutional Investors Weigh In On Palo Alto Networks

A number of institutional investors have recently modified their holdings of the company. Horizon Family Wealth Inc. grew its stake in shares of Palo Alto Networks by 1.1% in the fourth quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock valued at $726,000 after buying an additional 28 shares in the last quarter. MV Capital Management Inc. grew its stake in shares of Palo Alto Networks by 37.2% in the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after buying an additional 29 shares in the last quarter. Manchester Capital Management LLC grew its stake in shares of Palo Alto Networks by 17.2% in the fourth quarter. Manchester Capital Management LLC now owns 204 shares of the network technology company’s stock valued at $60,000 after buying an additional 30 shares in the last quarter. Quent Capital LLC grew its stake in shares of Palo Alto Networks by 15.9% in the fourth quarter. Quent Capital LLC now owns 233 shares of the network technology company’s stock valued at $69,000 after buying an additional 32 shares in the last quarter. Finally, Parisi Gray Wealth Management grew its stake in Palo Alto Networks by 2.2% during the 4th quarter. Parisi Gray Wealth Management now owns 1,519 shares of the network technology company’s stock worth $448,000 after purchasing an additional 33 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Loop Capital downgraded Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research note on Wednesday, February 21st. JMP Securities restated a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 21st. Royal Bank of Canada upped their target price on Palo Alto Networks to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Redburn Atlantic increased their price target on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research report on Monday, January 29th. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $314.82.

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.