Nir Zuk Sells 100,000 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW) Stock

Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report) EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total value of $19,866,000.00. Following the completion of the transaction, the executive vice president directly owned 3,243,516 shares in the company, valued at approximately $644,356,888.56. The trade was a 2.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, June 2nd, Nir Zuk sold 100,000 shares of Palo Alto Networks stock. The stock was sold at an average price of $193.36, for a total value of $19,336,000.00.
• On Friday, April 11th, Nir Zuk sold 100,000 shares of Palo Alto Networks stock. The stock was sold at an average price of $165.41, for a total transaction of $16,541,000.00.

Palo Alto Networks Stock Performance

NASDAQ:PANW traded up $4.53 on Thursday, hitting $201.50. 2,561,725 shares of the stock were exchanged, compared to its average volume of 5,385,172. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39. The stock has a market capitalization of $134.36 billion, a price-to-earnings ratio of 115.14, a P/E/G ratio of 5.52 and a beta of 0.97. The company's 50-day moving average price is $192.85 and its 200 day moving average price is $185.45.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Truist Financial cut their price target on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Sanford C. Bernstein set a $225.00 price target on shares of Palo Alto Networks and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. TD Securities reiterated a "buy" rating and issued a $230.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Guggenheim restated a "sell" rating and set a $130.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Finally, Barclays decreased their price target on Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $208.00.

Institutional Investors Weigh In On Palo Alto Networks

Several large investors have recently modified their holdings of PANW. TrueWealth Advisors LLC grew its position in shares of Palo Alto Networks by 62.9% in the 2nd quarter. TrueWealth Advisors LLC now owns 2,807 shares of the network technology company's stock valued at $574,000 after purchasing an additional 1,084 shares during the period. HBW Advisory Services LLC lifted its stake in Palo Alto Networks by 9.8% in the second quarter. HBW Advisory Services LLC now owns 2,381 shares of the network technology company's stock valued at $487,000 after buying an additional 213 shares in the last quarter. Jacobs & Co. CA boosted its holdings in shares of Palo Alto Networks by 4.1% in the second quarter. Jacobs & Co. CA now owns 31,029 shares of the network technology company's stock valued at $6,349,000 after buying an additional 1,235 shares during the period. LVM Capital Management Ltd. MI increased its position in shares of Palo Alto Networks by 1.0% during the second quarter. LVM Capital Management Ltd. MI now owns 47,526 shares of the network technology company's stock worth $9,726,000 after acquiring an additional 483 shares in the last quarter. Finally, Harbor Investment Advisory LLC raised its holdings in shares of Palo Alto Networks by 19.9% during the second quarter. Harbor Investment Advisory LLC now owns 7,014 shares of the network technology company's stock worth $1,435,000 after acquiring an additional 1,165 shares during the period. 79.82% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.