Palo Alto Networks, Inc. (NASDAQ:PANW) CEO Nikesh Arora Sells 490,723 Shares of Stock

Palo Alto Networks, Inc. (NASDAQ:PANW) CEO Nikesh Arora sold 490,723 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $89,532,411.35. Following the sale, the chief executive officer now directly owns 1,086,404 shares in the company, valued at $198,214,409.80. This trade represents a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Nikesh Arora also recently made the following trade(s):

• On Monday, January 6th, Nikesh Arora sold 176,242 shares of Palo Alto Networks stock. The stock was sold at an average price of $180.04, for a total value of $31,730,609.68.
• On Friday, January 3rd, Nikesh Arora sold 235,492 shares of Palo Alto Networks stock. The stock was sold at an average price of $183.32, for a total transaction of $43,170,393.44.

Palo Alto Networks Trading Up 1.9 %

PANW opened at $186.85 on Thursday. Palo Alto Networks, Inc. has a 1 year low of $130.04 and a 1 year high of $207.24. The stock has a market cap of $122.61 billion, a PE ratio of 48.66, a P/E/G ratio of 5.27 and a beta of 1.14. The stock’s 50 day simple moving average is $187.09 and its 200-day simple moving average is $180.19.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Wednesday, November 20th. The network technology company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. Palo Alto Networks had a return on equity of 23.36% and a net margin of 32.99%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the previous year, the firm earned $0.32 EPS. Palo Alto Networks’s quarterly revenue was up 13.9% on a year-over-year basis. Equities analysts forecast that Palo Alto Networks, Inc. will post 1.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palo Alto Networks

Several institutional investors have recently bought and sold shares of the business. Capital Advisors Ltd. LLC boosted its holdings in Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 41 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Palo Alto Networks during the third quarter worth about $29,000. Sound Income Strategies LLC raised its holdings in Palo Alto Networks by 352.6% during the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after buying an additional 67 shares during the period. Strategic Investment Solutions Inc. IL lifted its stake in Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after buying an additional 55 shares in the last quarter. Finally, True Wealth Design LLC boosted its holdings in shares of Palo Alto Networks by 2,933.3% in the third quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock valued at $31,000 after buying an additional 88 shares during the period. Institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PANW. Truist Financial upped their price target on shares of Palo Alto Networks from $200.00 to $212.50 and gave the company a “buy” rating in a research report on Monday, November 18th. Evercore ISI decreased their target price on Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating for the company in a research report on Tuesday, December 31st. Hsbc Global Res lowered Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 22nd. HSBC lowered Palo Alto Networks from a “hold” rating to a “reduce” rating and decreased their price objective for the stock from $152.00 to $145.50 in a research report on Friday, November 22nd. Finally, Guggenheim lowered shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price target for the company. in a research report on Monday, January 6th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $200.85.

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.