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Palo Alto Networks, Inc. (NASDAQ:PANW) CAO Sells $160,840.00 in Stock

Palo Alto Networks logo with Computer and Technology background

Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report) CAO Josh D. Paul sold 800 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $201.05, for a total value of $160,840.00. Following the completion of the transaction, the chief accounting officer now directly owns 42,033 shares of the company's stock, valued at $8,450,734.65. The trade was a 1.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW traded down $1.96 during mid-day trading on Thursday, reaching $202.34. 5,260,328 shares of the company's stock were exchanged, compared to its average volume of 5,431,450. The firm has a market capitalization of $134.92 billion, a price-to-earnings ratio of 115.62, a PEG ratio of 5.70 and a beta of 0.97. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $208.39. The company's 50-day moving average is $190.04 and its 200-day moving average is $185.39.

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 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The company's revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 EPS. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palo Alto Networks

A number of hedge funds have recently modified their holdings of the business. AG2R LA Mondiale Gestion D Actifs purchased a new position in shares of Palo Alto Networks during the 1st quarter worth $4,159,000. Real Talk Capital LLC boosted its holdings in Palo Alto Networks by 1.5% during the 1st quarter. Real Talk Capital LLC now owns 8,859 shares of the network technology company's stock valued at $1,512,000 after acquiring an additional 131 shares during the period. Invst LLC purchased a new position in Palo Alto Networks during the 1st quarter valued at about $911,000. Strs Ohio purchased a new position in Palo Alto Networks during the 1st quarter valued at about $91,748,000. Finally, Intrua Financial LLC boosted its holdings in Palo Alto Networks by 14.1% during the 1st quarter. Intrua Financial LLC now owns 1,630 shares of the network technology company's stock valued at $278,000 after acquiring an additional 202 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PANW. Barclays reduced their target price on 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. HSBC raised Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 target price for the company in a research note on Thursday, April 10th. Truist Financial reduced their target price on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Rosenblatt Securities reaffirmed a "buy" rating and set a $235.00 target price on shares of Palo Alto Networks in a research note on Tuesday, May 20th. Finally, Guggenheim reaffirmed a "sell" rating and set a $130.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Two research 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $208.00.

Check Out Our Latest Stock Analysis on PANW

Palo Alto Networks Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Palo Alto Networks (NASDAQ:PANW)

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