Stanley J. Meresman Sells 1,958 Shares of Palo Alto Networks Inc (PANW) Stock
Palo Alto Networks Inc (NYSE:PANW) Director Stanley J. Meresman sold 1,958 shares of the firm’s stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $177.48, for a total value of $347,505.84. Following the transaction, the director now directly owns 1,658 shares in the company, valued at $294,261.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
NYSE:PANW traded down $6.51 during mid-day trading on Friday, reaching $175.27. 48,729 shares of the stock were exchanged, compared to its average volume of 1,678,056. The company has a quick ratio of 1.93, a current ratio of 2.10 and a debt-to-equity ratio of 1.10. Palo Alto Networks Inc has a 1-year low of $140.75 and a 1-year high of $239.50. The firm has a market cap of $16.82 billion, a P/E ratio of -318.27, a PEG ratio of 10.63 and a beta of 1.14.
Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Thursday, November 29th. The network technology company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.02. Palo Alto Networks had a negative return on equity of 1.72% and a negative net margin of 5.04%. The business had revenue of $656.00 million during the quarter, compared to analyst estimates of $632.16 million. During the same quarter last year, the company posted $0.74 EPS. Palo Alto Networks’s revenue for the quarter was up 30.7% on a year-over-year basis. Sell-side analysts expect that Palo Alto Networks Inc will post 0.71 EPS for the current year.
PANW has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on Palo Alto Networks to $276.00 and gave the company a “top pick” rating in a report on Monday, October 8th. Zacks Investment Research lowered Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. Robert W. Baird reissued an “outperform” rating on shares of Palo Alto Networks in a report on Thursday, October 18th. Summit Insights lowered Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Monday, October 29th. Finally, Wedbush initiated coverage on Palo Alto Networks in a report on Thursday, October 18th. They set a “neutral” rating and a $225.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $239.94.
About Palo Alto Networks
Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network 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.
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