Palo Alto Networks, Inc. (NASDAQ:PANW) CEO Nikesh Arora Sells 235,492 Shares

Palo Alto Networks, Inc. (NASDAQ:PANWGet Free Report) CEO Nikesh Arora sold 235,492 shares of Palo Alto Networks stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $183.32, for a total value of $43,170,393.44. Following the transaction, the chief executive officer now directly owns 1,086,404 shares in the company, valued at approximately $199,159,581.28. The trade was a 17.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Nikesh Arora also recently made the following trade(s):

  • On Monday, January 6th, Nikesh Arora sold 176,242 shares of Palo Alto Networks stock. The stock was sold at an average price of $180.04, for a total transaction of $31,730,609.68.
  • On Thursday, October 10th, Nikesh Arora sold 163,172 shares of Palo Alto Networks stock. The stock was sold at an average price of $184.00, for a total transaction of $30,022,832.14.

Palo Alto Networks Stock Down 1.5 %

Shares of NASDAQ:PANW opened at $172.83 on Thursday. The business’s 50 day moving average is $191.49 and its 200 day moving average is $178.27. The stock has a market cap of $113.41 billion, a P/E ratio of 22.50, a price-to-earnings-growth ratio of 5.75 and a beta of 1.14. Palo Alto Networks, Inc. has a 52-week low of $130.04 and a 52-week high of $207.24.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last posted its quarterly earnings results on Wednesday, November 20th. The network technology company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Palo Alto Networks had a return on equity of 23.36% and a net margin of 32.99%. The business’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 EPS. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 3.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Palo Alto Networks

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in Palo Alto Networks by 3.0% in the third quarter. Geode Capital Management LLC now owns 7,656,968 shares of the network technology company’s stock worth $2,609,486,000 after buying an additional 220,900 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Palo Alto Networks by 34,318.2% during the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after buying an additional 3,249,594 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Palo Alto Networks by 8.5% in the 2nd quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock valued at $1,099,564,000 after buying an additional 255,060 shares in the last quarter. Jennison Associates LLC grew its position in shares of Palo Alto Networks by 50.1% in the 3rd quarter. Jennison Associates LLC now owns 3,147,215 shares of the network technology company’s stock worth $1,075,718,000 after buying an additional 1,050,173 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Palo Alto Networks by 5.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company’s stock worth $757,321,000 after acquiring an additional 114,742 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PANW. HSBC downgraded shares of Palo Alto Networks from a “hold” rating to a “reduce” rating and dropped their target price for the stock from $152.00 to $145.50 in a report on Friday, November 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $190.00 price objective (down previously from $207.00) on shares of Palo Alto Networks in a research note on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $225.00 target price on shares of Palo Alto Networks in a research note on Thursday, November 21st. Oppenheimer restated an “outperform” rating and issued a $225.00 price target on shares of Palo Alto Networks in a research note on Thursday, November 21st. Finally, Bank of America lifted their price objective on shares of Palo Alto Networks from $200.00 to $215.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $199.29.

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About Palo Alto Networks

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Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.

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