Dipak Golechha Sells 5,000 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW) Stock

Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report) EVP Dipak Golechha sold 5,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the completion of the sale, the executive vice president now owns 101,135 shares of the company's stock, valued at $20,414,099.75. This trade represents a 4.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Palo Alto Networks Stock Performance

Shares of PANW stock traded down $1.63 on Tuesday, reaching $201.69. The stock had a trading volume of 4,947,922 shares, compared to its average volume of 5,438,798. The stock has a market cap of $134.49 billion, a P/E ratio of 115.25, a price-to-earnings-growth ratio of 5.56 and a beta of 0.97. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The company has a 50 day simple moving average of $188.10 and a 200 day simple moving average of $185.08.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The business's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 EPS. On average, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Csenge Advisory Group grew its position in shares of Palo Alto Networks by 2.4% during the 1st quarter. Csenge Advisory Group now owns 2,271 shares of the network technology company's stock valued at $381,000 after acquiring an additional 53 shares during the period. GSG Advisors LLC increased its position in Palo Alto Networks by 0.4% during the first quarter. GSG Advisors LLC now owns 12,450 shares of the network technology company's stock worth $2,154,000 after purchasing an additional 54 shares during the last quarter. Strategic Investment Solutions Inc. IL increased its stake in Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after acquiring an additional 55 shares during the last quarter. SYM FINANCIAL Corp increased its position in shares of Palo Alto Networks by 1.4% during the first quarter. SYM FINANCIAL Corp now owns 4,047 shares of the network technology company's stock valued at $691,000 after acquiring an additional 55 shares during the last quarter. Finally, Crew Capital Management Ltd. raised its holdings in shares of Palo Alto Networks by 2.5% in the 1st quarter. Crew Capital Management Ltd. now owns 2,310 shares of the network technology company's stock valued at $394,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 79.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PANW shares. Rosenblatt Securities restated a "buy" rating and set a $235.00 price target on shares of Palo Alto Networks in a research report on Tuesday, May 20th. Morgan Stanley reduced their target price on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Barclays decreased their price target on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a research note on Wednesday, May 21st. Roth Capital initiated coverage on shares of Palo Alto Networks in a research note on Thursday, May 15th. They set a "neutral" rating and a $210.00 price objective on the stock. Finally, Wells Fargo & Company raised their target price on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $208.00.

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.

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