Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Lee Klarich Sells 125,866 Shares

Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Lee Klarich sold 125,866 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $335.00, for a total transaction of $42,165,110.00. Following the sale, the executive vice president now owns 166,542 shares in the company, valued at $55,791,570. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Thursday, June 6th, Lee Klarich sold 800 shares of Palo Alto Networks stock. The stock was sold at an average price of $300.21, for a total transaction of $240,168.00.
• On Monday, May 6th, Lee Klarich sold 121,276 shares of Palo Alto Networks stock. The stock was sold at an average price of $299.60, for a total transaction of $36,334,289.60.

Palo Alto Networks Price Performance

Shares of PANW traded up $0.88 during midday trading on Wednesday, hitting $337.06. 2,010,552 shares of the company traded hands, compared to its average volume of 4,696,071. The stock has a 50-day moving average of $313.98 and a 200-day moving average of $308.92. The firm has a market cap of $109.14 billion, a P/E ratio of 48.38, a PEG ratio of 5.17 and a beta of 1.14. Palo Alto Networks, Inc. has a one year low of $201.17 and a one year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results 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 business 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%. Palo Alto Networks’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the firm posted $0.38 earnings per share. Sell-side analysts forecast that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PANW shares. Macquarie boosted their price target on shares of Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Stifel Nicolaus restated a “buy” rating and issued a $330.00 price target on shares of Palo Alto Networks in a research report on Wednesday, March 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $350.00 price target on shares of Palo Alto Networks in a research report on Friday, June 21st. KeyCorp boosted their price target on shares of Palo Alto Networks from $355.00 to $384.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Finally, Daiwa Capital Markets assumed coverage on shares of Palo Alto Networks in a research report on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 price target on the stock. Twelve equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $326.29.

Institutional Investors Weigh In On Palo Alto Networks

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pathway Financial Advisers LLC purchased a new stake in Palo Alto Networks in the first quarter valued at approximately $25,000. Frank Rimerman Advisors LLC purchased a new stake in Palo Alto Networks in the fourth quarter valued at approximately $27,000. Webster Bank N. A. raised its stake in shares of Palo Alto Networks by 607.1% during the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after acquiring an additional 85 shares in the last quarter. Financial Synergies Wealth Advisors Inc. raised its stake in shares of Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after acquiring an additional 96 shares in the last quarter. Finally, Cedar Mountain Advisors LLC raised its stake in shares of Palo Alto Networks by 87.0% during the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after acquiring an additional 47 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

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.