Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Lee Klarich Sells 60,000 Shares of Stock

Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the transaction, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $54,854,924.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, August 5th, Lee Klarich sold 60,000 shares of Palo Alto Networks stock. The shares were sold at an average price of $295.93, for a total transaction of $17,755,800.00.
• On Monday, July 8th, Lee Klarich sold 125,866 shares of Palo Alto Networks stock. The shares were sold at an average price of $335.00, for a total transaction of $42,165,110.00.

Palo Alto Networks Trading Down 2.3 %

Palo Alto Networks stock opened at $335.82 on Friday. The company has a market capitalization of $108.74 billion, a PE ratio of 48.81, a P/E/G ratio of 5.29 and a beta of 1.13. The stock has a 50-day moving average price of $335.82 and a two-hundred day moving average price of $310.48. Palo Alto Networks, Inc. has a 12 month low of $224.64 and a 12 month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the business earned $0.80 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, analysts predict that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on PANW. Scotiabank upped their price objective on Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Evercore ISI lifted their price objective on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. JMP Securities reissued a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Truist Financial upped their price objective on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, Susquehanna lifted their target price on Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a report on Thursday. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $366.08.

Institutional Trading of Palo Alto Networks

Several institutional investors have recently modified their holdings of PANW. Norges Bank acquired a new position in Palo Alto Networks during the 4th quarter worth about $1,563,020,000. Vanguard Group Inc. raised its holdings in Palo Alto Networks by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock worth $8,129,800,000 after purchasing an additional 1,058,127 shares during the last quarter. Axiom Investors LLC DE lifted its position in shares of Palo Alto Networks by 359.3% in the 4th quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock worth $282,406,000 after purchasing an additional 749,199 shares during the period. Swedbank AB bought a new stake in shares of Palo Alto Networks in the 1st quarter valued at $177,933,000. Finally, Altshuler Shaham Ltd raised its stake in Palo Alto Networks by 444,100.0% during the second quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock worth $150,520,000 after buying an additional 444,100 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

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.