Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Nir Zuk Sells 12,000 Shares of Stock

Posted by Hanz Christensen on Aug 3rd, 2022

Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) EVP Nir Zuk sold 12,000 shares of Palo Alto Networks stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $500.58, for a total value of $6,006,960.00. Following the sale, the executive vice president now directly owns 671,812 shares of the company’s stock, valued at approximately $336,295,650.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Nir Zuk also recently made the following trade(s):

On Friday, July 1st, Nir Zuk sold 12,000 shares of Palo Alto Networks stock. The stock was sold at an average price of $501.62, for a total value of $6,019,440.00.
On Wednesday, June 1st, Nir Zuk sold 12,000 shares of Palo Alto Networks stock. The stock was sold at an average price of $506.01, for a total value of $6,072,120.00.

Palo Alto Networks Stock Up 0.6 %

Palo Alto Networks stock opened at $510.69 on Wednesday. The company has a market capitalization of $50.89 billion, a P/E ratio of -128.31 and a beta of 1.18. The stock’s 50 day moving average is $501.71 and its 200 day moving average is $530.35. Palo Alto Networks, Inc. has a twelve month low of $358.37 and a twelve month high of $640.90.

Palo Alto Networks (NASDAQ:PANW – Get Rating) last posted its quarterly earnings results on Thursday, May 19th. The network technology company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.21). The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Palo Alto Networks had a negative return on equity of 57.50% and a negative net margin of 7.54%. The business’s quarterly revenue was up 29.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.62) EPS. As a group, equities analysts expect that Palo Alto Networks, Inc. will post -0.73 EPS for the current year.

Analyst Ratings Changes

PANW has been the subject of a number of recent research reports. Jefferies Financial Group lowered their target price on Palo Alto Networks to $600.00 in a research note on Tuesday, May 17th. UBS Group boosted their target price on Palo Alto Networks to $545.00 in a research note on Friday, May 20th. Cowen reissued a “buy” rating and issued a $620.00 target price on shares of Palo Alto Networks in a research note on Friday, May 20th. Cowen reissued a “buy” rating and issued a $620.00 target price on shares of Palo Alto Networks in a research note on Friday, May 20th. Finally, Raymond James reissued a “buy” rating and issued a $610.00 target price on shares of Palo Alto Networks in a research note on Friday, May 20th. Three research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company. According to data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average target price of $630.88.

Hedge Funds Weigh In On Palo Alto Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Foundry Partners LLC lifted its position in Palo Alto Networks by 8.8% in the 1st quarter. Foundry Partners LLC now owns 727 shares of the network technology company’s stock valued at $453,000 after acquiring an additional 59 shares in the last quarter. Stonebridge Financial Planning Group LLC lifted its position in Palo Alto Networks by 17.1% in the 4th quarter. Stonebridge Financial Planning Group LLC now owns 205 shares of the network technology company’s stock valued at $102,000 after acquiring an additional 30 shares in the last quarter. Mission Wealth Management LP lifted its position in Palo Alto Networks by 5.9% in the 1st quarter. Mission Wealth Management LP now owns 499 shares of the network technology company’s stock valued at $310,000 after acquiring an additional 28 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of Palo Alto Networks by 26.3% during the 4th quarter. Illinois Municipal Retirement Fund now owns 6,004 shares of the network technology company’s stock valued at $3,343,000 after buying an additional 1,249 shares during the period. Finally, KB Financial Partners LLC bought a new position in shares of Palo Alto Networks during the 4th quarter valued at $114,000. 84.33% of the stock is owned by institutional investors.

Palo Alto Networks Company Profile

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Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer's network and instances in public or private cloud environments, 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.