Palo Alto Networks, Inc. (NASDAQ:PANW – Get Free Report) CEO Nikesh Arora sold 66,668 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $336.54, for a total transaction of $22,436,448.72. Following the completion of the transaction, the chief executive officer now directly owns 694,228 shares in the company, valued at approximately $233,635,491.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Palo Alto Networks Trading Up 0.2 %
Shares of NASDAQ:PANW traded up $0.76 during trading on Wednesday, reaching $341.20. The company’s stock had a trading volume of 1,022,400 shares, compared to its average volume of 4,774,639. The firm’s 50 day simple moving average is $309.18 and its two-hundred day simple moving average is $307.63. Palo Alto Networks, Inc. has a 12 month low of $201.17 and a 12 month high of $380.84. The stock has a market capitalization of $110.48 billion, a PE ratio of 49.57, a price-to-earnings-growth ratio of 5.19 and a beta of 1.14.
Palo Alto Networks (NASDAQ:PANW – Get Free Report) last issued its quarterly 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 company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the company earned $0.38 earnings per share. Research analysts anticipate that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.
Hedge Funds Weigh In On Palo Alto Networks
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on PANW. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Robert W. Baird lifted their price target on shares of Palo Alto Networks from $340.00 to $360.00 and gave the stock an “outperform” rating in a report on Thursday, June 27th. Redburn Atlantic increased their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Royal Bank of Canada lowered their target price on shares of Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. Finally, Daiwa America upgraded Palo Alto Networks to a “strong-buy” rating in a research report on Wednesday, May 29th. Twelve investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average target price of $326.29.
Get Our Latest Stock Report on PANW
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.
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