Palo Alto Networks Inc (NYSE:PANW) Director Mark D. Mclaughlin sold 40,000 shares of Palo Alto Networks stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $204.84, for a total value of $8,193,600.00. Following the completion of the transaction, the director now owns 333,756 shares of the company’s stock, valued at approximately $68,366,579.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Palo Alto Networks opened at $209.34 on Friday, Marketbeat reports. The company has a market capitalization of $19.48 billion, a P/E ratio of -122.42 and a beta of 0.92. Palo Alto Networks Inc has a 52 week low of $126.56 and a 52 week high of $217.40.
Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Monday, June 4th. The network technology company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. The company had revenue of $567.10 million during the quarter, compared to the consensus estimate of $545.79 million. Palo Alto Networks had a negative net margin of 8.65% and a negative return on equity of 8.51%. analysts forecast that Palo Alto Networks Inc will post -0.27 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of PANW. Trust Co. of Vermont raised its stake in Palo Alto Networks by 107.7% in the first quarter. Trust Co. of Vermont now owns 671 shares of the network technology company’s stock worth $121,000 after buying an additional 348 shares in the last quarter. NuWave Investment Management LLC raised its stake in Palo Alto Networks by 10,260.0% in the first quarter. NuWave Investment Management LLC now owns 1,036 shares of the network technology company’s stock worth $184,000 after buying an additional 1,026 shares in the last quarter. Aristotle Atlantic Partners LLC bought a new position in Palo Alto Networks in the first quarter worth approximately $200,000. Violich Capital Management Inc. bought a new position in Palo Alto Networks in the first quarter worth approximately $205,000. Finally, Columbia Asset Management purchased a new position in Palo Alto Networks in the first quarter worth $209,000. 80.62% of the stock is owned by institutional investors.
Several research firms recently commented on PANW. Robert W. Baird lifted their price target on Palo Alto Networks from $190.00 to $216.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 5th. Credit Suisse Group lifted their price target on Palo Alto Networks from $150.00 to $175.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 5th. ValuEngine upgraded Palo Alto Networks from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. TheStreet upgraded Palo Alto Networks from a “d” rating to a “c-” rating in a research report on Monday, June 4th. Finally, BMO Capital Markets boosted their target price on Palo Alto Networks from $190.00 to $220.00 and gave the company a “market perform” rating in a research report on Thursday, May 31st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and thirty-seven have given a buy rating to the company’s stock. Palo Alto Networks currently has a consensus rating of “Buy” and a consensus price target of $198.93.
About Palo Alto Networks
Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.
Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.