Stanley J. Meresman Sells 1,979 Shares of Palo Alto Networks Inc (PANW) Stock

Palo Alto Networks Inc (NYSE:PANW) Director Stanley J. Meresman sold 1,979 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $234.22, for a total value of $463,521.38. Following the completion of the transaction, the director now owns 5,716 shares of the company’s stock, valued at $1,338,801.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

NYSE:PANW traded down $1.48 during midday trading on Friday, hitting $234.62. 986,443 shares of the stock were exchanged, compared to its average volume of 1,334,259. Palo Alto Networks Inc has a one year low of $135.85 and a one year high of $239.50. The stock has a market cap of $21.94 billion, a price-to-earnings ratio of -426.58, a PEG ratio of 16.59 and a beta of 0.83.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Thursday, September 6th. The network technology company reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.11. Palo Alto Networks had a negative return on equity of 4.57% and a negative net margin of 6.51%. The firm had revenue of $658.10 million for the quarter, compared to analysts’ expectations of $634.14 million. During the same quarter in the previous year, the company earned $0.92 earnings per share. The firm’s quarterly revenue was up 29.3% compared to the same quarter last year. equities analysts predict that Palo Alto Networks Inc will post 0.61 earnings per share for the current fiscal year.

A number of equities analysts have commented on PANW shares. Royal Bank of Canada lifted their target price on Palo Alto Networks to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, May 23rd. Deutsche Bank lifted their target price on Palo Alto Networks from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, May 24th. Deutsche Bank lifted their target price on Palo Alto Networks from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, May 24th. Barclays lifted their target price on Palo Alto Networks from $206.00 to $235.00 and gave the company an “overweight” rating in a research note on Wednesday, May 30th. Finally, Stifel Nicolaus lifted their target price on Palo Alto Networks from $200.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, May 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $237.78.

A number of large investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its holdings in shares of Palo Alto Networks by 84.7% in the second quarter. Canada Pension Plan Investment Board now owns 1,461,226 shares of the network technology company’s stock valued at $300,238,000 after buying an additional 670,016 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Palo Alto Networks by 1.8% in the first quarter. Northern Trust Corp now owns 1,089,570 shares of the network technology company’s stock valued at $197,778,000 after buying an additional 19,336 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in shares of Palo Alto Networks by 19,903.8% in the first quarter. Summit Trail Advisors LLC now owns 848,163 shares of the network technology company’s stock valued at $848,000 after buying an additional 843,923 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Palo Alto Networks by 193.7% in the second quarter. Bank of Montreal Can now owns 545,383 shares of the network technology company’s stock valued at $112,061,000 after buying an additional 359,685 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Palo Alto Networks by 199.8% in the second quarter. First Trust Advisors LP now owns 529,520 shares of the network technology company’s stock valued at $108,800,000 after buying an additional 352,914 shares in the last quarter. 81.57% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Company Profile

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.

Further Reading: Risk Tolerance

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

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