Palo Alto Networks, Inc. (NASDAQ:PANW) Director Sells $99,940.00 in Stock

Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report) Director Aparna Bawa sold 526 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $190.00, for a total transaction of $99,940.00. Following the completion of the transaction, the director owned 8,632 shares in the company, valued at $1,640,080. The trade was a 5.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Palo Alto Networks Price Performance

Palo Alto Networks stock traded down $9.65 during midday trading on Thursday, reaching $196.41. 3,468,557 shares of the company traded hands, compared to its average volume of 5,377,295. The firm has a market capitalization of $130.97 billion, a price-to-earnings ratio of 112.69, a price-to-earnings-growth ratio of 5.69 and a beta of 0.97. The business has a 50 day moving average of $194.93 and a two-hundred day moving average of $185.76. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The firm'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 earnings per share. As a group, equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Transce3nd LLC bought a new position in Palo Alto Networks in the fourth quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL raised its position in Palo Alto Networks by 64.0% in 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 period. Kiely Wealth Advisory Group Inc. raised its position in Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after acquiring an additional 75 shares during the period. Anchor Investment Management LLC raised its position in Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after acquiring an additional 78 shares during the period. Finally, Capital A Wealth Management LLC bought a new position in Palo Alto Networks in the fourth quarter worth approximately $29,000. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. TD Securities reiterated a "buy" rating and set a $230.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Wells Fargo & Company boosted their price target on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Stephens cut shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Roth Capital assumed coverage on shares of Palo Alto Networks in a research report on Thursday, May 15th. They set a "neutral" rating and a $210.00 price target on the stock. Finally, KeyCorp reiterated an "overweight" rating and set a $220.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently 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.