Palo Alto Networks, Inc. (NASDAQ:PANW – Get Free Report) CEO Nikesh Arora sold 176,242 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $180.04, for a total value of $31,730,609.68. Following the completion of the sale, the chief executive officer now directly owns 1,086,404 shares in the company, valued at approximately $195,596,176.16. The trade was a 13.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Nikesh Arora also recently made the following trade(s):
- On Friday, January 3rd, Nikesh Arora sold 235,492 shares of Palo Alto Networks stock. The shares were sold at an average price of $183.32, for a total transaction of $43,170,393.44.
- On Thursday, October 10th, Nikesh Arora sold 163,172 shares of Palo Alto Networks stock. The shares were sold at an average price of $184.00, for a total transaction of $30,022,832.14.
Palo Alto Networks Price Performance
Shares of NASDAQ PANW traded down $3.75 during midday trading on Monday, reaching $179.50. 7,104,380 shares of the company traded hands, compared to its average volume of 5,307,088. The company has a market cap of $117.79 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 5.75 and a beta of 1.14. The stock has a 50-day moving average price of $191.81 and a 200 day moving average price of $178.03. Palo Alto Networks, Inc. has a 52 week low of $130.04 and a 52 week high of $207.24.
Analyst Ratings Changes
A number of equities research analysts have issued reports on PANW shares. JPMorgan Chase & Co. boosted their price target on Palo Alto Networks from $193.50 to $224.50 and gave the company an “overweight” rating in a research report on Monday, November 18th. Stifel Nicolaus increased their target price on shares of Palo Alto Networks from $192.50 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Robert W. Baird lifted their price target on shares of Palo Alto Networks from $212.50 to $217.50 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Jefferies Financial Group increased their price objective on shares of Palo Alto Networks from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Palo Alto Networks from $197.50 to $207.50 and gave the company a “buy” rating in a report on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average price target of $199.72.
View Our Latest Research Report on PANW
Hedge Funds Weigh In On Palo Alto Networks
Several hedge funds have recently modified their holdings of the company. Capital Advisors Ltd. LLC boosted its stake in Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after buying an additional 41 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Palo Alto Networks during the 3rd quarter valued at about $29,000. Sound Income Strategies LLC grew its stake in shares of Palo Alto Networks by 352.6% in the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL raised its holdings in shares of Palo Alto Networks by 177.4% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 55 shares in the last quarter. Finally, True Wealth Design LLC boosted its stake in shares of Palo Alto Networks by 2,933.3% during the 3rd quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock worth $31,000 after acquiring an additional 88 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.
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.
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