Stanley J. Meresman Sells 1,958 Shares of Palo Alto Networks Inc (PANW) Stock

Palo Alto Networks Inc (NYSE:PANW) Director Stanley J. Meresman sold 1,958 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $177.48, for a total value of $347,505.84. Following the completion of the sale, the director now owns 1,658 shares in the company, valued at $294,261.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Shares of NYSE PANW opened at $175.09 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.93 and a current ratio of 2.10. The firm has a market capitalization of $16.82 billion, a P/E ratio of -318.35, a P/E/G ratio of 10.63 and a beta of 1.14. Palo Alto Networks Inc has a 52-week low of $142.67 and a 52-week high of $239.50.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Thursday, November 29th. The network technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.02. The business had revenue of $656.00 million for the quarter, compared to analysts’ expectations of $632.16 million. Palo Alto Networks had a negative return on equity of 1.72% and a negative net margin of 5.04%. The company’s quarterly revenue was up 30.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. As a group, research analysts expect that Palo Alto Networks Inc will post 0.71 EPS for the current fiscal year.

Several research firms recently commented on PANW. Zacks Investment Research upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $201.00 target price on the stock in a research report on Wednesday. Raymond James restated a “buy” rating on shares of Palo Alto Networks in a research report on Sunday, December 2nd. Gabelli upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $207.00 target price on the stock in a research report on Friday, November 30th. Credit Suisse Group lowered their target price on Palo Alto Networks from $185.00 to $160.00 and set an “underweight” rating on the stock in a research report on Friday, November 30th. Finally, Maxim Group raised their target price on Palo Alto Networks from $274.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, November 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $239.94.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Advisors Capital Management LLC grew its holdings in shares of Palo Alto Networks by 1.3% in the 3rd quarter. Advisors Capital Management LLC now owns 19,705 shares of the network technology company’s stock worth $4,439,000 after acquiring an additional 246 shares during the last quarter. Tradewinds Capital Management LLC grew its holdings in shares of Palo Alto Networks by 12.0% in the 2nd quarter. Tradewinds Capital Management LLC now owns 2,330 shares of the network technology company’s stock worth $479,000 after acquiring an additional 250 shares during the last quarter. ACG Wealth grew its holdings in shares of Palo Alto Networks by 15.8% in the 3rd quarter. ACG Wealth now owns 1,901 shares of the network technology company’s stock worth $428,000 after acquiring an additional 260 shares during the last quarter. Utah Retirement Systems boosted its position in shares of Palo Alto Networks by 1.8% in the third quarter. Utah Retirement Systems now owns 16,700 shares of the network technology company’s stock worth $3,762,000 after buying an additional 300 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Palo Alto Networks by 10.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,102 shares of the network technology company’s stock worth $637,000 after buying an additional 305 shares during the period. Institutional investors and hedge funds own 80.83% of the company’s stock.

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About Palo Alto Networks

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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