Palo Alto Networks, Inc. (NASDAQ:PANW) Director John P. Key Sells 2,163 Shares of Stock

Palo Alto Networks, Inc. (NASDAQ:PANWGet Free Report) Director John P. Key sold 2,163 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $305.41, for a total transaction of $660,601.83. Following the completion of the transaction, the director now owns 12,639 shares in the company, valued at approximately $3,860,076.99. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Palo Alto Networks Stock Up 2.4 %

NASDAQ PANW opened at $309.05 on Tuesday. The firm has a market cap of $100.07 billion, a PE ratio of 44.92, a P/E/G ratio of 4.65 and a beta of 1.10. Palo Alto Networks, Inc. has a 52 week low of $201.17 and a 52 week high of $380.84. The business’s fifty day simple moving average is $294.12 and its 200-day simple moving average is $304.09.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last issued its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. Palo Alto Networks’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. Research analysts expect that Palo Alto Networks, Inc. will post 2.94 EPS for the current year.

Institutional Trading of Palo Alto Networks

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Horizon Family Wealth Inc. increased its stake in Palo Alto Networks by 1.1% during the fourth quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock worth $726,000 after purchasing an additional 28 shares during the period. MV Capital Management Inc. increased its stake in Palo Alto Networks by 37.2% during the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after purchasing an additional 29 shares during the period. Manchester Capital Management LLC increased its stake in Palo Alto Networks by 17.2% during the fourth quarter. Manchester Capital Management LLC now owns 204 shares of the network technology company’s stock worth $60,000 after purchasing an additional 30 shares during the period. Quent Capital LLC increased its stake in Palo Alto Networks by 15.9% during the fourth quarter. Quent Capital LLC now owns 233 shares of the network technology company’s stock worth $69,000 after purchasing an additional 32 shares during the period. Finally, Parisi Gray Wealth Management increased its stake in Palo Alto Networks by 2.2% during the fourth quarter. Parisi Gray Wealth Management now owns 1,519 shares of the network technology company’s stock worth $448,000 after purchasing an additional 33 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PANW has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $350.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, April 17th. Scotiabank lowered their price objective on Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, February 21st. Daiwa Capital Markets initiated coverage on Palo Alto Networks in a research report on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on Palo Alto Networks from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Finally, Citigroup upped their price objective on Palo Alto Networks from $335.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Twelve analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $322.78.

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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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Insider Buying and Selling by Quarter for Palo Alto Networks (NASDAQ:PANW)

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