Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Lee Klarich Sells 99,707 Shares

Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Lee Klarich sold 99,707 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $18,191,542.15. Following the transaction, the executive vice president now directly owns 358,197 shares of the company’s stock, valued at approximately $65,353,042.65. This trade represents a 21.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, January 6th, Lee Klarich sold 120,000 shares of Palo Alto Networks stock. The stock was sold at an average price of $179.70, for a total value of $21,564,000.00.

Palo Alto Networks Trading Up 0.3 %

NASDAQ:PANW traded up $0.61 on Tuesday, reaching $183.40. The stock had a trading volume of 5,549,549 shares, compared to its average volume of 6,126,139. Palo Alto Networks, Inc. has a 12-month low of $130.04 and a 12-month high of $207.24. The stock has a market cap of $120.35 billion, a P/E ratio of 47.76, a price-to-earnings-growth ratio of 5.27 and a beta of 1.14. The company has a 50-day moving average of $187.38 and a 200 day moving average of $180.06.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Wednesday, November 20th. The network technology company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. Palo Alto Networks had a return on equity of 23.36% and a net margin of 32.99%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same quarter last year, the firm earned $0.32 EPS. Palo Alto Networks’s quarterly revenue was up 13.9% on a year-over-year basis. On average, equities analysts predict that Palo Alto Networks, Inc. will post 1.74 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PANW. Citigroup lowered their price target on shares of Palo Alto Networks from $216.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Evercore ISI decreased their price target on Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 31st. StockNews.com cut Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Piper Sandler upped their target price on Palo Alto Networks from $165.00 to $192.50 and gave the company a “neutral” rating in a report on Thursday, November 21st. Finally, BNP Paribas started coverage on Palo Alto Networks in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $205.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.85.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. FFT Wealth Management LLC increased its position in shares of Palo Alto Networks by 70.6% in the 4th quarter. FFT Wealth Management LLC now owns 1,788 shares of the network technology company’s stock worth $325,000 after purchasing an additional 740 shares during the last quarter. Longbow Finance SA grew its stake in Palo Alto Networks by 109.9% in the fourth quarter. Longbow Finance SA now owns 30,278 shares of the network technology company’s stock worth $5,509,000 after purchasing an additional 15,856 shares in the last quarter. Schoolcraft Capital LLC increased its holdings in Palo Alto Networks by 100.0% in the fourth quarter. Schoolcraft Capital LLC now owns 1,380 shares of the network technology company’s stock valued at $251,000 after buying an additional 690 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in Palo Alto Networks by 60.2% during the fourth quarter. Illinois Municipal Retirement Fund now owns 34,532 shares of the network technology company’s stock valued at $6,283,000 after buying an additional 12,970 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in Palo Alto Networks by 102.3% during the 4th quarter. Amalgamated Bank now owns 136,937 shares of the network technology company’s stock worth $24,917,000 after buying an additional 69,231 shares during the last quarter. 79.82% of the stock is currently owned by 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.