Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Lee Klarich Sells 3,500 Shares of Stock

Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) EVP Lee Klarich sold 3,500 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $479.46, for a total value of $1,678,110.00. Following the sale, the executive vice president now owns 252,551 shares in the company, valued at $121,088,102.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lee Klarich also recently made the following trade(s):

• On Monday, April 11th, Lee Klarich sold 4,781 shares of Palo Alto Networks stock. The shares were sold at an average price of $602.42, for a total value of $2,880,170.02.
• On Friday, March 11th, Lee Klarich sold 4,001 shares of Palo Alto Networks stock. The shares were sold at an average price of $559.22, for a total value of $2,237,439.22.

NASDAQ:PANW opened at $484.04 on Wednesday. The firm has a market cap of $47.67 billion, a PE ratio of -102.12 and a beta of 1.28. Palo Alto Networks, Inc. has a fifty-two week low of $322.23 and a fifty-two week high of $640.90. The business has a 50 day moving average price of $581.74 and a 200-day moving average price of $542.71.

Palo Alto Networks (NASDAQ:PANW – Get Rating) last released its quarterly earnings data on Tuesday, February 22nd. The network technology company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.22). The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Palo Alto Networks had a negative net margin of 9.50% and a negative return on equity of 42.84%. The business’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period last year, the company posted ($0.42) EPS. As a group, equities research analysts forecast that Palo Alto Networks, Inc. will post -1.29 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Patriot Financial Group Insurance Agency LLC lifted its stake in Palo Alto Networks by 108.7% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 48 shares of the network technology company’s stock worth $27,000 after acquiring an additional 25 shares during the period. North Star Investment Management Corp. purchased a new stake in Palo Alto Networks in the fourth quarter worth $28,000. Capital Advisory Group Advisory Services LLC purchased a new stake in Palo Alto Networks in the first quarter worth $29,000. JNBA Financial Advisors lifted its stake in Palo Alto Networks by 900.0% in the first quarter. JNBA Financial Advisors now owns 50 shares of the network technology company’s stock worth $31,000 after acquiring an additional 45 shares during the period. Finally, Tyler Stone Wealth Management purchased a new stake in Palo Alto Networks in the fourth quarter worth $33,000. 84.33% of the stock is owned by institutional investors.

Several equities research analysts have recently weighed in on the company. Northland Securities upped their price target on Palo Alto Networks from $585.00 to $605.00 and gave the company an “outperform” rating in a research report on Wednesday, February 23rd. The Goldman Sachs Group upped their price objective on shares of Palo Alto Networks from $650.00 to $700.00 in a research report on Tuesday, April 12th. Guggenheim restated a “buy” rating and issued a $625.00 price objective on shares of Palo Alto Networks in a research report on Friday, February 18th. JMP Securities initiated coverage on shares of Palo Alto Networks in a research report on Tuesday, February 22nd. They issued an “outperform” rating and a $620.00 price objective on the stock. Finally, Morgan Stanley upped their price objective on shares of Palo Alto Networks from $670.00 to $823.00 and gave the stock an “overweight” rating in a research report on Monday, April 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $631.94.

Palo Alto Networks Company Profile (Get Rating)

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 an end-customer's network and 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.

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