Palo Alto Networks Inc (PANW) CMO Rene Bonvanie Sells 13,503 Shares

Palo Alto Networks Inc (NYSE:PANW) CMO Rene Bonvanie sold 13,503 shares of the firm’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $199.03, for a total value of $2,687,502.09. Following the transaction, the chief marketing officer now owns 74,733 shares of the company’s stock, valued at $14,874,108.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Palo Alto Networks traded up $3.10, reaching $216.15, during mid-day trading on Thursday, MarketBeat.com reports. The stock had a trading volume of 55,077 shares, compared to its average volume of 1,472,989. Palo Alto Networks Inc has a fifty-two week low of $126.56 and a fifty-two week high of $214.69. The stock has a market capitalization of $18.46 billion, a PE ratio of -126.65 and a beta of 0.99.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Monday, June 4th. The network technology company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.08. Palo Alto Networks had a negative return on equity of 8.51% and a negative net margin of 8.65%. The firm had revenue of $567.10 million during the quarter, compared to analysts’ expectations of $545.79 million. analysts expect that Palo Alto Networks Inc will post -0.26 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on PANW shares. Evercore ISI set a $180.00 price objective on Palo Alto Networks and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Dougherty & Co restated a “buy” rating and set a $205.00 price objective (up from $180.00) on shares of Palo Alto Networks in a research report on Tuesday, February 27th. Citigroup raised their price objective on Palo Alto Networks from $170.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Deutsche Bank raised their price objective on Palo Alto Networks from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, Maxim Group restated a “buy” rating and set a $212.00 price objective (up from $196.00) on shares of Palo Alto Networks in a research report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and thirty-seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $198.68.

A number of institutional investors have recently made changes to their positions in the business. Sands Capital Management LLC boosted its position in shares of Palo Alto Networks by 27.7% during the fourth quarter. Sands Capital Management LLC now owns 3,962,586 shares of the network technology company’s stock valued at $574,337,000 after buying an additional 860,117 shares during the last quarter. Summit Trail Advisors LLC boosted its position in shares of Palo Alto Networks by 19,903.8% during the first quarter. Summit Trail Advisors LLC now owns 848,163 shares of the network technology company’s stock valued at $848,000 after buying an additional 843,923 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Palo Alto Networks by 18.4% during the fourth quarter. Renaissance Technologies LLC now owns 4,379,100 shares of the network technology company’s stock valued at $634,707,000 after buying an additional 681,200 shares during the last quarter. Millennium Management LLC boosted its position in shares of Palo Alto Networks by 335.9% during the fourth quarter. Millennium Management LLC now owns 803,544 shares of the network technology company’s stock valued at $116,466,000 after buying an additional 619,215 shares during the last quarter. Finally, Hunt Lane Capital LP purchased a new position in shares of Palo Alto Networks during the fourth quarter valued at approximately $53,222,000. 82.27% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.

Insider Buying and Selling by Quarter for Palo Alto Networks (NYSE:PANW)

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