Lee Klarich Sells 121,276 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW) Stock

Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Lee Klarich sold 121,276 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $299.60, for a total value of $36,334,289.60. Following the transaction, the executive vice president now directly owns 166,542 shares of the company’s stock, valued at $49,895,983.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, April 5th, Lee Klarich sold 60,000 shares of Palo Alto Networks stock. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00.
• On Monday, March 11th, Lee Klarich sold 60,000 shares of Palo Alto Networks stock. The shares were sold at an average price of $284.33, for a total value of $17,059,800.00.

Palo Alto Networks Price Performance

Shares of PANW stock opened at $295.67 on Friday. Palo Alto Networks, Inc. has a fifty-two week low of $186.75 and a fifty-two week high of $380.84. The stock’s 50-day moving average is $285.49 and its two-hundred day moving average is $294.53. The firm has a market cap of $95.53 billion, a P/E ratio of 46.20, a PEG ratio of 4.03 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.58 by $0.22. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. As a group, research analysts expect that Palo Alto Networks, Inc. will post 2.77 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Loop Capital cut shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a report on Wednesday, February 21st. Susquehanna lowered their target price on Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating on the stock in a research report on Monday, February 26th. Northland Securities downgraded Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 target price on the stock. in a research note on Wednesday, February 21st. Piper Sandler cut Palo Alto Networks from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $350.00 to $300.00 in a research note on Wednesday, February 21st. Finally, Rosenblatt Securities cut shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and cut their price objective for the company from $290.00 to $265.00 in a research note on Wednesday, February 21st. Eleven research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. According to MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $314.82.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Verdence Capital Advisors LLC boosted its stake in shares of Palo Alto Networks by 23.1% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,336 shares of the network technology company’s stock worth $313,000 after acquiring an additional 251 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in Palo Alto Networks by 25.5% during the third quarter. Chicago Partners Investment Group LLC now owns 1,868 shares of the network technology company’s stock worth $460,000 after purchasing an additional 380 shares during the period. Advisor Partners II LLC grew its holdings in Palo Alto Networks by 3.6% during the third quarter. Advisor Partners II LLC now owns 4,830 shares of the network technology company’s stock valued at $1,132,000 after purchasing an additional 169 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of Palo Alto Networks by 10.5% in the third quarter. Park Avenue Securities LLC now owns 15,796 shares of the network technology company’s stock valued at $3,703,000 after purchasing an additional 1,502 shares during the period. Finally, Graypoint LLC lifted its stake in shares of Palo Alto Networks by 11.1% in the third quarter. Graypoint LLC now owns 3,730 shares of the network technology company’s stock worth $874,000 after buying an additional 374 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Company Profile

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.