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.

A number of hedge funds have recently made changes to their positions in the business. Parametric Portfolio Associates LLC boosted its position in Palo Alto Networks by 12.6% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 105,008 shares of the network technology company’s stock worth $15,132,000 after acquiring an additional 11,774 shares during the period. AXA boosted its position in Palo Alto Networks by 12.0% during the 3rd quarter. AXA now owns 119,513 shares of the network technology company’s stock worth $17,222,000 after acquiring an additional 12,826 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in Palo Alto Networks during the 3rd quarter worth $717,000. Public Employees Retirement System of Ohio boosted its position in Palo Alto Networks by 31.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 52,196 shares of the network technology company’s stock worth $7,521,000 after acquiring an additional 12,605 shares during the period. Finally, IFM Investors Pty Ltd acquired a new position in Palo Alto Networks during the 3rd quarter worth $366,000. Institutional investors own 79.91% of the company’s stock.

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.

COPYRIGHT VIOLATION WARNING: “Palo Alto Networks Inc (PANW) Director Sells $11,448,840.00 in Stock” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another website, it was stolen and reposted in violation of U.S. and international copyright and trademark legislation. The original version of this piece can be viewed at https://www.thecerbatgem.com/2018/01/02/palo-alto-networks-inc-panw-director-sells-11448840-00-in-stock.html.

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.

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

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.