Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) EVP Nir Zuk sold 12,000 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $506.01, for a total transaction of $6,072,120.00. Following the completion of the transaction, the executive vice president now owns 696,273 shares in the company, valued at approximately $352,321,100.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Nir Zuk also recently made the following trade(s):
- On Monday, May 2nd, Nir Zuk sold 12,000 shares of Palo Alto Networks stock. The stock was sold at an average price of $563.41, for a total transaction of $6,760,920.00.
- On Friday, April 1st, Nir Zuk sold 12,000 shares of Palo Alto Networks stock. The stock was sold at an average price of $616.26, for a total transaction of $7,395,120.00.
Shares of NASDAQ:PANW traded up $15.61 on Thursday, hitting $517.34. 1,243,459 shares of the company were exchanged, compared to its average volume of 1,792,839. The company’s 50 day moving average price is $557.26 and its two-hundred day moving average price is $540.29. Palo Alto Networks, Inc. has a one year low of $350.96 and a one year high of $640.90. The firm has a market capitalization of $51.55 billion, a price-to-earnings ratio of -129.98 and a beta of 1.29.
Several research firms have weighed in on PANW. UBS Group lifted their price objective on shares of Palo Alto Networks to $545.00 in a research report on Friday, May 20th. Cowen reiterated a “buy” rating and set a $620.00 price objective on shares of Palo Alto Networks in a research report on Friday, May 20th. Loop Capital lowered their price objective on shares of Palo Alto Networks from $530.00 to $510.00 and set a “hold” rating on the stock in a research report on Wednesday, February 23rd. Wells Fargo & Company reiterated a “buy” rating and set a $700.00 price objective on shares of Palo Alto Networks in a research report on Friday, May 20th. Finally, Wedbush decreased their target price on shares of Palo Alto Networks from $660.00 to $580.00 and set an “outperform” rating for the company in a research note on Friday, May 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirty have issued a buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks has an average rating of “Buy” and an average price target of $626.48.
A number of hedge funds and other institutional investors have recently bought and sold shares of PANW. Assetmark Inc. increased its stake in Palo Alto Networks by 51.4% in the third quarter. Assetmark Inc. now owns 109 shares of the network technology company’s stock valued at $52,000 after acquiring an additional 37 shares during the period. Greenleaf Trust bought a new stake in Palo Alto Networks during the third quarter worth about $249,000. Clearstead Advisors LLC grew its stake in Palo Alto Networks by 5.4% during the third quarter. Clearstead Advisors LLC now owns 1,545 shares of the network technology company’s stock worth $740,000 after buying an additional 79 shares during the last quarter. Fiduciary Trust Co. bought a new stake in Palo Alto Networks during the third quarter worth about $770,000. Finally, Bell Investment Advisors Inc bought a new stake in Palo Alto Networks during the third quarter worth about $36,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.
About Palo Alto Networks (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.
- Get a free copy of the StockNews.com research report on Palo Alto Networks (PANW)
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