Mark D. Mclaughlin Sells 40,000 Shares of Palo Alto Networks Inc (NYSE:PANW) Stock

Palo Alto Networks Inc (NYSE:PANW) Director Mark D. Mclaughlin sold 40,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $241.63, for a total value of $9,665,200.00. Following the completion of the sale, the director now owns 250,205 shares in the company, valued at approximately $60,457,034.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of PANW traded up $0.38 during mid-day trading on Friday, reaching $245.84. The company’s stock had a trading volume of 587,786 shares, compared to its average volume of 1,293,337. Palo Alto Networks Inc has a 12-month low of $160.08 and a 12-month high of $260.63. The company has a market cap of $22.99 billion, a P/E ratio of -446.98, a PEG ratio of 10.78 and a beta of 0.85. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.87 and a current ratio of 1.87.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Tuesday, February 26th. The network technology company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.20. The firm had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $682.32 million. Palo Alto Networks had a positive return on equity of 4.69% and a negative net margin of 3.47%. The business’s revenue was up 30.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 EPS. As a group, analysts predict that Palo Alto Networks Inc will post 0.96 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. C J Advisory Inc acquired a new stake in shares of Palo Alto Networks in the 1st quarter valued at about $30,000. Bruderman Asset Management LLC acquired a new stake in shares of Palo Alto Networks in the 4th quarter valued at about $38,000. Karp Capital Management Corp acquired a new stake in shares of Palo Alto Networks in the 4th quarter valued at about $40,000. Financial Advocates Investment Management boosted its position in shares of Palo Alto Networks by 65.2% in the 4th quarter. Financial Advocates Investment Management now owns 114 shares of the network technology company’s stock valued at $43,000 after purchasing an additional 45 shares during the period. Finally, Captrust Financial Advisors boosted its position in shares of Palo Alto Networks by 278.8% in the 4th quarter. Captrust Financial Advisors now owns 250 shares of the network technology company’s stock valued at $47,000 after purchasing an additional 184 shares during the period. 80.87% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have weighed in on PANW. Zacks Investment Research downgraded Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Friday. Mizuho began coverage on Palo Alto Networks in a report on Tuesday, March 26th. They set a “buy” rating and a $285.00 price target on the stock. Oppenheimer upped their price target on Palo Alto Networks from $270.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, February 27th. Dougherty & Co restated a “buy” rating and set a $300.00 price target (up previously from $260.00) on shares of Palo Alto Networks in a report on Wednesday, February 27th. Finally, Monness Crespi & Hardt restated a “buy” rating and set a $280.00 price target (up previously from $235.00) on shares of Palo Alto Networks in a report on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Palo Alto Networks currently has an average rating of “Buy” and an average target price of $268.42.

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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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