Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Sells $65,081,520.00 in Stock

Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Nir Zuk sold 168,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $387.39, for a total value of $65,081,520.00. Following the sale, the executive vice president now owns 1,821,758 shares in the company, valued at $705,730,831.62. This trade represents a 8.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, October 1st, Nir Zuk sold 36,000 shares of Palo Alto Networks stock. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded up $10.02 on Tuesday, hitting $396.40. The company had a trading volume of 2,849,945 shares, compared to its average volume of 3,863,863. The stock has a market capitalization of $129.07 billion, a price-to-earnings ratio of 50.31, a P/E/G ratio of 5.51 and a beta of 1.12. Palo Alto Networks, Inc. has a 1 year low of $260.09 and a 1 year high of $408.53. The stock has a 50 day moving average of $365.13 and a 200-day moving average of $340.53.

Palo Alto Networks’s stock is going to split on Monday, December 16th. The 2-1 split was announced on Wednesday, November 20th. The newly created shares will be issued to shareholders after the market closes on Friday, December 13th.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Wednesday, November 20th. The network technology company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.08. 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 during the quarter, compared to analyst estimates of $2.12 billion. During the same period in the prior year, the company earned $0.63 earnings per share. Palo Alto Networks’s revenue was up 13.9% compared to the same quarter last year. Equities analysts anticipate that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

Analyst Ratings Changes

PANW has been the subject of a number of analyst reports. BTIG Research boosted their target price on shares of Palo Alto Networks from $395.00 to $414.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Northland Securities restated a “market perform” rating and set a $370.00 target price (up from $350.00) on shares of Palo Alto Networks in a research report on Thursday, November 21st. Robert W. Baird increased their price target on shares of Palo Alto Networks from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $450.00 price target on shares of Palo Alto Networks in a research note on Thursday, November 21st. Finally, BNP Paribas began coverage on shares of Palo Alto Networks in a report on Tuesday, October 8th. They set an “outperform” rating and a $410.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus price target of $402.03.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Capital Advisors Ltd. LLC grew its stake in shares of Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after buying an additional 41 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Palo Alto Networks during the 3rd quarter valued at $29,000. Sound Income Strategies LLC raised its holdings in Palo Alto Networks by 352.6% in the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 67 shares during the period. Strategic Investment Solutions Inc. IL raised its holdings in Palo Alto Networks by 177.4% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 55 shares during the period. Finally, Pathway Financial Advisers LLC bought a new stake in Palo Alto Networks during the first quarter valued at about $25,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

About Palo Alto Networks

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.