Palo Alto Networks Inc (PANW) Director Sells $11,448,840.00 in Stock
Palo Alto Networks Inc (NYSE:PANW) Director James J. Goetz sold 78,000 shares of Palo Alto Networks stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $146.78, for a total value of $11,448,840.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Palo Alto Networks Inc (NYSE PANW) traded up $3.61 during mid-day trading on Tuesday, reaching $148.55. The company’s stock had a trading volume of 763,023 shares, compared to its average volume of 620,641. Palo Alto Networks Inc has a one year low of $107.31 and a one year high of $157.65. The firm has a market cap of $13,650.00, a price-to-earnings ratio of -60.39 and a beta of 1.00.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.06. Palo Alto Networks had a negative return on equity of 15.77% and a negative net margin of 11.97%. The company had revenue of $505.50 million during the quarter, compared to analyst estimates of $489.36 million. During the same quarter in the previous year, the firm posted $0.55 EPS. The firm’s quarterly revenue was up 27.0% on a year-over-year basis. research analysts expect that Palo Alto Networks Inc will post -0.37 EPS for the current fiscal year.
Several research analysts have recently commented on the company. Zacks Investment Research upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $169.00 target price for the company in a research report on Tuesday, November 28th. Jefferies Group reiterated a “buy” rating and issued a $183.00 target price (up previously from $168.00) on shares of Palo Alto Networks in a research report on Tuesday, November 21st. Piper Jaffray Companies reiterated an “overweight” rating and issued a $173.00 target price (up previously from $155.00) on shares of Palo Alto Networks in a research report on Tuesday, November 21st. Royal Bank of Canada lifted their target price on Palo Alto Networks from $159.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 21st. Finally, Maxim Group reiterated a “buy” rating and issued a $195.00 target price (up previously from $168.00) on shares of Palo Alto Networks in a research report on Thursday, September 28th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty-two have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $164.89.
About Palo Alto Networks
Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
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