Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Sells $19,336,000.00 in Stock

Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report) EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $193.36, for a total transaction of $19,336,000.00. Following the completion of the sale, the executive vice president now owns 3,343,516 shares in the company, valued at approximately $646,502,253.76. The trade was a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, April 11th, Nir Zuk sold 100,000 shares of Palo Alto Networks stock. The shares were sold at an average price of $165.41, for a total value of $16,541,000.00.

Palo Alto Networks Price Performance

Shares of PANW stock traded up $2.66 during trading on Friday, reaching $199.77. The company had a trading volume of 1,678,859 shares, compared to its average volume of 5,516,292. The firm's 50 day simple moving average is $179.91 and its two-hundred day simple moving average is $185.06. The company has a market capitalization of $133.21 billion, a PE ratio of 112.39, a PEG ratio of 5.64 and a beta of 0.97. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the company posted $0.66 EPS. The company's revenue was up 15.3% compared to the same quarter last year. Analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Institutional Trading of Palo Alto Networks

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Sanford C. Bernstein set a $225.00 price target on shares of Palo Alto Networks and gave the company an "outperform" rating in a research report on Wednesday, May 21st. Royal Bank of Canada reiterated an "outperform" rating and set a $225.00 target price on shares of Palo Alto Networks in a research report on Monday, February 10th. JMP Securities boosted their price objective on Palo Alto Networks from $208.00 to $212.00 and gave the company a "market outperform" rating in a report on Friday, February 14th. Roth Capital initiated coverage on 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, Northland Securities dropped their price objective on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $208.00.

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.