Traders Sell Shares of Palo Alto Networks (PANW) on Strength (PANW)
Traders sold shares of Palo Alto Networks Inc (NYSE:PANW) on strength during trading hours on Tuesday. $37.33 million flowed into the stock on the tick-up and $74.77 million flowed out of the stock on the tick-down, for a money net flow of $37.44 million out of the stock. Of all equities tracked, Palo Alto Networks had the 28th highest net out-flow for the day. Palo Alto Networks traded up $1.64 for the day and closed at $156.89
PANW has been the topic of a number of recent research reports. Oppenheimer reiterated a “buy” rating and issued a $180.00 target price (up previously from $173.00) on shares of Palo Alto Networks in a research report on Tuesday, November 21st. Zacks Investment Research lowered Palo Alto Networks from a “hold” rating to a “sell” rating in a research report on Monday, November 13th. Northland Securities set a $175.00 target price on Palo Alto Networks and gave the company a “buy” rating in a research report on Wednesday, October 18th. Telsey Advisory Group upped their target price on Palo Alto Networks from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, November 22nd. Finally, Sanford C. Bernstein upped their target price on Palo Alto Networks from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Tuesday, November 21st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and thirty-four have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $167.39.
The firm has a market cap of $14,420.00, a PE ratio of -63.78 and a beta of 1.04.
In other news, President Mark Anderson sold 15,614 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $144.16, for a total transaction of $2,250,914.24. Following the transaction, the president now owns 186,413 shares in the company, valued at approximately $26,873,298.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley J. Meresman sold 2,000 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $159.00, for a total value of $318,000.00. Following the transaction, the director now owns 13,834 shares in the company, valued at approximately $2,199,606. The disclosure for this sale can be found here. Insiders have sold a total of 396,644 shares of company stock worth $59,381,588 in the last quarter. Insiders own 4.80% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cerebellum GP LLC acquired a new position in Palo Alto Networks in the 4th quarter valued at $127,000. Penserra Capital Management LLC acquired a new position in Palo Alto Networks in the 3rd quarter valued at $162,000. Benjamin F. Edwards & Company Inc. raised its stake in Palo Alto Networks by 495.2% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,232 shares of the network technology company’s stock valued at $178,000 after purchasing an additional 1,025 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in Palo Alto Networks in the 4th quarter valued at $192,000. Finally, Shelton Capital Management acquired a new position in Palo Alto Networks in the 2nd quarter valued at $201,000. 79.18% of the stock is owned by hedge funds and other institutional investors.
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Palo Alto Networks Company Profile
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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