Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) EVP Lee Klarich sold 15,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $166.74, for a total transaction of $2,501,100.00. Following the transaction, the executive vice president now directly owns 634,905 shares in the company, valued at $105,864,059.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Lee Klarich also recently made the following trade(s):
- On Thursday, November 10th, Lee Klarich sold 16,602 shares of Palo Alto Networks stock. The shares were sold at an average price of $162.68, for a total transaction of $2,700,813.36.
- On Tuesday, October 11th, Lee Klarich sold 8,754 shares of Palo Alto Networks stock. The shares were sold at an average price of $161.26, for a total transaction of $1,411,670.04.
Palo Alto Networks Stock Down 0.3 %
Shares of NASDAQ PANW traded down $0.52 during midday trading on Wednesday, hitting $160.23. The stock had a trading volume of 1,884,524 shares, compared to its average volume of 4,680,041. The company has a market capitalization of $48.13 billion, a PE ratio of -328.09, a P/E/G ratio of 6.41 and a beta of 1.10. The stock has a 50 day simple moving average of $164.27 and a 200-day simple moving average of $192.49. Palo Alto Networks, Inc. has a 1 year low of $140.07 and a 1 year high of $213.63.
Analyst Ratings Changes
Several equities analysts have issued reports on PANW shares. Cowen reaffirmed a “buy” rating and issued a $207.00 price target on shares of Palo Alto Networks in a report on Friday, November 18th. MKM Partners decreased their price target on Palo Alto Networks from $250.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, November 15th. Atlantic Securities began coverage on Palo Alto Networks in a research note on Friday, September 2nd. They issued a “neutral” rating and a $165.00 price target for the company. Guggenheim increased their price target on Palo Alto Networks from $208.33 to $213.33 and gave the company a “buy” rating in a research note on Tuesday, August 23rd. Finally, Royal Bank of Canada increased their price target on Palo Alto Networks from $226.67 to $233.33 in a research note on Tuesday, August 23rd. Five research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average target price of $232.92.
Hedge Funds Weigh In On Palo Alto Networks
Institutional investors have recently added to or reduced their stakes in the stock. Ronald Blue Trust Inc. purchased a new position in Palo Alto Networks during the second quarter worth approximately $28,000. Avondale Wealth Management purchased a new position in Palo Alto Networks during the second quarter worth approximately $25,000. Adirondack Trust Co. lifted its position in Palo Alto Networks by 246.7% during the second quarter. Adirondack Trust Co. now owns 52 shares of the network technology company’s stock worth $26,000 after buying an additional 37 shares in the last quarter. Quent Capital LLC purchased a new stake in Palo Alto Networks in the second quarter valued at $27,000. Finally, Worth Asset Management LLC acquired a new position in shares of Palo Alto Networks in the 1st quarter valued at $26,000. Hedge funds and other institutional investors own 86.17% of the company’s stock.
About Palo Alto Networks
Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on a customer’s network, as well as their instances in public or private cloud environments, as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.