Insider Selling: Palo Alto Networks, Inc. (NASDAQ:PANW) Director Sells $102,447.45 in Stock

Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) Director Aparna Bawa sold 555 shares of the business’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $184.59, for a total transaction of $102,447.45. Following the completion of the transaction, the director now directly owns 5,223 shares of the company’s stock, valued at approximately $964,113.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Palo Alto Networks Stock Down 0.3 %

PANW stock opened at $189.12 on Friday. The company’s 50-day simple moving average is $166.80 and its 200-day simple moving average is $162.54. Palo Alto Networks, Inc. has a 52-week low of $132.22 and a 52-week high of $213.63. The firm has a market cap of $57.23 billion, a P/E ratio of 2,579.03, a PEG ratio of 5.04 and a beta of 1.16.

Institutional Investors Weigh In On Palo Alto Networks

Hedge funds have recently modified their holdings of the company. Ronald Blue Trust Inc. purchased a new stake in shares of Palo Alto Networks during the 2nd quarter worth about $28,000. Worth Asset Management LLC purchased a new stake in shares of Palo Alto Networks during the 1st quarter worth about $26,000. Covestor Ltd boosted its stake in shares of Palo Alto Networks by 61.8% during the 1st quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock worth $35,000 after acquiring an additional 21 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Palo Alto Networks during the 2nd quarter worth about $37,000. Finally, Salem Investment Counselors Inc. raised its position in shares of Palo Alto Networks by 1,071.4% during the 2nd quarter. Salem Investment Counselors Inc. now owns 82 shares of the network technology company’s stock worth $41,000 after purchasing an additional 75 shares during the last quarter. 81.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PANW has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Palo Alto Networks from $195.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 22nd. Redburn Partners initiated coverage on shares of Palo Alto Networks in a research note on Thursday, December 1st. They issued a “buy” rating and a $270.00 price objective for the company. Citigroup boosted their price objective on shares of Palo Alto Networks from $195.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, February 22nd. Morgan Stanley upped their price target on Palo Alto Networks from $240.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 22nd. Finally, Roth Mkm upped their price target on Palo Alto Networks from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, February 22nd. Five analysts have rated the stock with a hold rating and thirty-four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.77.

About Palo Alto Networks

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Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: the United States, Israel, and Other Countries. The company was founded by Nir Zuk in March 2005 and is headquartered in Santa Clara, CA.