Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Nir Zuk Sells 36,000 Shares of Stock

Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $339.16, for a total transaction of $12,209,760.00. Following the sale, the executive vice president now owns 1,223,567 shares in the company, valued at approximately $414,984,983.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Nir Zuk also recently made the following trade(s):

• On Monday, June 3rd, Nir Zuk sold 36,000 shares of Palo Alto Networks stock. The stock was sold at an average price of $293.31, for a total transaction of $10,559,160.00.
• On Wednesday, May 1st, Nir Zuk sold 36,000 shares of Palo Alto Networks stock. The shares were sold at an average price of $288.24, for a total value of $10,376,640.00.

Palo Alto Networks Stock Performance

PANW opened at $341.20 on Thursday. The company’s 50-day simple moving average is $309.18 and its two-hundred day simple moving average is $307.63. Palo Alto Networks, Inc. has a 52-week low of $201.17 and a 52-week high of $380.84. The stock has a market capitalization of $110.48 billion, a P/E ratio of 49.59, a P/E/G ratio of 5.21 and a beta of 1.14.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Beese Fulmer Investment Management Inc. purchased a new stake in shares of Palo Alto Networks during the 2nd quarter valued at about $217,000. Modus Advisors LLC lifted its position in Palo Alto Networks by 2.1% during the second quarter. Modus Advisors LLC now owns 18,482 shares of the network technology company’s stock valued at $6,266,000 after purchasing an additional 374 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Palo Alto Networks by 1,767.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 11,767 shares of the network technology company’s stock valued at $3,989,000 after purchasing an additional 11,137 shares during the period. First Hawaiian Bank bought a new stake in Palo Alto Networks during the second quarter valued at about $1,883,000. Finally, GAMMA Investing LLC increased its position in Palo Alto Networks by 49.6% in the second quarter. GAMMA Investing LLC now owns 3,860 shares of the network technology company’s stock worth $1,309,000 after buying an additional 1,280 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Morgan Stanley reiterated an “overweight” rating and set a $360.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, June 12th. JPMorgan Chase & Co. lifted their target price on shares of Palo Alto Networks from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Argus raised their price objective on Palo Alto Networks from $336.00 to $348.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. DA Davidson assumed coverage on Palo Alto Networks in a research note on Friday, June 21st. They issued a “buy” rating and a $380.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $350.00 target price on shares of Palo Alto Networks in a report on Friday, June 21st. Twelve research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $326.29.

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.