James J. Goetz Sells 78,000 Shares of Palo Alto Networks Inc (PANW) Stock

Palo Alto Networks Inc (NYSE:PANW) Director James J. Goetz sold 78,000 shares of the firm’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $146.78, for a total transaction of $11,448,840.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of Palo Alto Networks Inc (NYSE PANW) opened at $149.68 on Thursday. The firm has a market cap of $13,750.00, a P/E ratio of -60.85 and a beta of 0.99. Palo Alto Networks Inc has a fifty-two week low of $107.31 and a fifty-two week high of $157.65.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.06. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. The business had revenue of $505.50 million during the quarter, compared to analyst estimates of $489.36 million. During the same quarter last year, the business posted $0.55 earnings per share. Palo Alto Networks’s revenue for the quarter was up 27.0% compared to the same quarter last year. equities research analysts anticipate that Palo Alto Networks Inc will post -0.37 earnings per share for the current fiscal year.

A number of research analysts have commented on the stock. Dougherty & Co restated a “buy” rating and set a $180.00 price target (up previously from $170.00) on shares of Palo Alto Networks in a research note on Tuesday, November 21st. FBN Securities raised shares of Palo Alto Networks from a “sector perform” rating to an “outperform” rating in a report on Tuesday, November 21st. Zacks Investment Research raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $169.00 price objective for the company in a report on Tuesday, November 28th. BidaskClub raised shares of Palo Alto Networks from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, Oppenheimer reaffirmed a “buy” rating and set a $180.00 price objective (up previously from $173.00) on shares of Palo Alto Networks in a report on Tuesday, November 21st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty-two have given a buy rating to the company. Palo Alto Networks currently has a consensus rating of “Buy” and an average target price of $164.89.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PANW. Schwab Charles Investment Management Inc. grew its holdings in Palo Alto Networks by 8.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 153,838 shares of the network technology company’s stock worth $20,586,000 after acquiring an additional 11,488 shares during the period. Prudential Financial Inc. boosted its position in shares of Palo Alto Networks by 14.9% during the second quarter. Prudential Financial Inc. now owns 6,000 shares of the network technology company’s stock worth $803,000 after purchasing an additional 780 shares in the last quarter. Neuberger Berman Group LLC boosted its position in shares of Palo Alto Networks by 67.4% during the second quarter. Neuberger Berman Group LLC now owns 89,415 shares of the network technology company’s stock worth $11,965,000 after purchasing an additional 35,996 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Palo Alto Networks by 1.2% during the second quarter. Principal Financial Group Inc. now owns 5,590 shares of the network technology company’s stock worth $748,000 after purchasing an additional 68 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its position in shares of Palo Alto Networks by 25.3% during the second quarter. Eagle Asset Management Inc. now owns 155,297 shares of the network technology company’s stock worth $20,780,000 after purchasing an additional 31,406 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

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About Palo Alto Networks

Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

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