Lee Klarich Sells 120,774 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW) Stock

Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Lee Klarich sold 120,774 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $189.27, for a total value of $22,858,894.98. Following the completion of the sale, the executive vice president now directly owns 293,010 shares of the company’s stock, valued at approximately $55,458,002.70. The trade was a 29.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, April 7th, Lee Klarich sold 120,774 shares of Palo Alto Networks stock. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62.

Palo Alto Networks Trading Up 0.2 %

Shares of Palo Alto Networks stock opened at $188.53 on Friday. The stock has a market capitalization of $124.83 billion, a price-to-earnings ratio of 106.21, a P/E/G ratio of 5.64 and a beta of 1.02. The firm’s 50-day moving average price is $176.02 and its two-hundred day moving average price is $184.73. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. As a group, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PANW shares. JMP Securities increased their target price on shares of Palo Alto Networks from $208.00 to $212.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Westpark Capital reissued a “hold” rating and set a $196.40 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. Truist Financial reduced their target price on Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating for the company in a report on Monday, March 31st. HSBC upgraded Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price target on the stock in a report on Thursday, April 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $225.00 price objective on shares of Palo Alto Networks in a report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $203.06.

Institutional Investors Weigh In On Palo Alto Networks

A number of hedge funds have recently added to or reduced their stakes in the stock. Transce3nd LLC bought a new stake in shares of Palo Alto Networks during the fourth quarter valued at approximately $25,000. SJS Investment Consulting Inc. boosted its position in Palo Alto Networks by 97.2% in the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock valued at $25,000 after buying an additional 69 shares during the last quarter. Strategic Investment Solutions Inc. IL increased its stake in shares of Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after buying an additional 55 shares during the period. Valued Wealth Advisors LLC raised its position in shares of Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock worth $26,000 after acquiring an additional 101 shares during the last quarter. Finally, Abound Wealth Management lifted its stake in shares of Palo Alto Networks by 97.3% during the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after acquiring an additional 72 shares during the period. Institutional investors 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.