Nir Zuk Sells 36,000 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW) Stock

Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the sale, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, August 1st, Nir Zuk sold 36,000 shares of Palo Alto Networks stock. The stock was sold at an average price of $317.77, for a total value of $11,439,720.00.

Palo Alto Networks Stock Up 1.9 %

PANW stock opened at $342.36 on Friday. The stock has a market cap of $110.86 billion, a PE ratio of 49.76, a price-to-earnings-growth ratio of 4.87 and a beta of 1.13. The firm’s 50-day simple moving average is $337.94 and its 200 day simple moving average is $316.89. Palo Alto Networks, Inc. has a fifty-two week low of $233.81 and a fifty-two week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the business earned $0.80 earnings per share. Palo Alto Networks’s revenue was up 12.1% compared to the same quarter last year. Equities analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Pathway Financial Advisers LLC acquired a new stake in Palo Alto Networks in the first quarter worth about $25,000. Frank Rimerman Advisors LLC bought a new stake in shares of Palo Alto Networks during the 4th quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. raised its position in shares of Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after buying an additional 96 shares in the last quarter. Central Bank & Trust Co. lifted its stake in shares of Palo Alto Networks by 89.3% in the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after acquiring an additional 50 shares during the period. Finally, Cape Investment Advisory Inc. boosted its holdings in shares of Palo Alto Networks by 1,111.1% in the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PANW. Sanford C. Bernstein raised their target price on Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. UBS Group lifted their price objective on shares of Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. KeyCorp upped their target price on shares of Palo Alto Networks from $380.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Redburn Atlantic downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $350.00 to $325.00 in a research note on Thursday, July 18th. Finally, The Goldman Sachs Group upped their price objective on shares of Palo Alto Networks from $330.00 to $376.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Twelve equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $369.26.

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.