Palo Alto Networks, Inc. (NASDAQ:PANW) EVP Lee Klarich Sells 120,774 Shares

Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report) EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the transaction, the executive vice president now owns 321,774 shares in the company, valued at $48,629,704.62. The trade was a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Lee Klarich also recently made the following trade(s):

• On Monday, February 3rd, Lee Klarich sold 99,707 shares of Palo Alto Networks stock. The shares were sold at an average price of $182.45, for a total value of $18,191,542.15.

Palo Alto Networks Stock Up 0.0 %

Shares of NASDAQ PANW traded up $0.07 during midday trading on Friday, reaching $168.34. 6,295,092 shares of the company were exchanged, compared to its average volume of 5,904,752. Palo Alto Networks, Inc. has a one year low of $135.18 and a one year high of $208.39. The stock has a market cap of $111.46 billion, a P/E ratio of 94.84, a PEG ratio of 5.64 and a beta of 1.07. The stock's 50-day moving average price is $182.29 and its 200-day moving average price is $184.79.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.75 by $0.06. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. On average, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Institutional Trading of Palo Alto Networks

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Palo Alto Networks by 104.4% during the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock worth $11,142,122,000 after acquiring an additional 31,281,359 shares during the last quarter. Geode Capital Management LLC raised its holdings in Palo Alto Networks by 87.8% during the 4th quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock worth $2,611,013,000 after purchasing an additional 6,725,148 shares during the last quarter. Capital Research Global Investors raised its holdings in Palo Alto Networks by 83.8% during the 4th quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock worth $1,533,419,000 after purchasing an additional 3,841,359 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Palo Alto Networks by 133.7% in the 4th quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock valued at $1,427,048,000 after purchasing an additional 4,486,654 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Palo Alto Networks by 17.6% during the fourth quarter. Ameriprise Financial Inc. now owns 7,277,739 shares of the network technology company's stock worth $1,324,387,000 after buying an additional 1,088,631 shares during the period. Institutional investors own 79.82% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. BTIG Research lowered Palo Alto Networks from a "buy" rating to a "neutral" rating in a research report on Wednesday, January 8th. Susquehanna boosted their price objective on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a research report on Tuesday, February 18th. Westpark Capital reissued a "hold" rating and issued a $196.40 price target on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Citigroup increased their price objective on Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Finally, KeyCorp boosted their target price on Palo Alto Networks from $217.00 to $240.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $204.52.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.