Palo Alto Networks (NASDAQ:PANW) Stock Price Down 3.4% on Insider Selling

Palo Alto Networks, Inc. (NASDAQ:PANW)’s stock price dropped 3.4% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $167.26 and last traded at $169.46. Approximately 3,666,808 shares changed hands during trading, a decline of 29% from the average daily volume of 5,139,548 shares. The stock had previously closed at $175.51.

Specifically, EVP Lee Klarich sold 120,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $179.70, for a total value of $21,564,000.00. Following the completion of the sale, the executive vice president now directly owns 365,856 shares of the company’s stock, valued at approximately $65,744,323.20. This represents a 24.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nikesh Arora sold 176,242 shares of the business’s stock in a transaction that occurred on 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 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 position. The disclosure for this sale can be found here. In other Palo Alto Networks news, CEO Nikesh Arora sold 235,492 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $183.32, for a total transaction of $43,170,393.44. Following the completion of the transaction, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at approximately $199,159,581.28. This trade represents a 17.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 target price on shares of Palo Alto Networks in a report on Thursday, November 21st. Needham & Company LLC lifted their price target on shares of Palo Alto Networks from $192.50 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. boosted their target price on Palo Alto Networks from $193.50 to $224.50 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Robert W. Baird raised their price objective on shares of Palo Alto Networks from $212.50 to $217.50 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Susquehanna boosted their target price on shares of Palo Alto Networks from $210.00 to $217.50 and gave the company a “positive” rating in a research note on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and an average price target of $199.29.

Palo Alto Networks Trading Down 3.4 %

The stock has a fifty day moving average of $191.63 and a two-hundred day moving average of $178.30. The stock has a market capitalization of $111.20 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 5.75 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Wednesday, November 20th. The network technology company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.04. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Palo Alto Networks had a net margin of 32.99% and a return on equity of 23.36%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. Equities analysts expect that Palo Alto Networks, Inc. will post 3.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Capital Advisors Ltd. LLC raised its position in shares of 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 worth $26,000 after acquiring an additional 41 shares during the last quarter. Sound Income Strategies LLC raised its position in shares of Palo Alto Networks by 352.6% during the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL increased its holdings in Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 55 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Palo Alto Networks during the third quarter worth about $29,000. Finally, True Wealth Design LLC increased its stake in shares of Palo Alto Networks by 2,933.3% in the 3rd quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock valued at $31,000 after acquiring an additional 88 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

About Palo Alto Networks

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.