Palo Alto Networks, Inc. (NASDAQ:PANW – Get Free Report) Director Aparna Bawa sold 536 shares of Palo Alto Networks stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $280.00, for a total value of $150,080.00. Following the sale, the director directly owned 7,704 shares in the company, valued at approximately $2,157,120. This trade represents a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Aparna Bawa also recently made the following trade(s):
- On Thursday, June 11th, Aparna Bawa sold 555 shares of Palo Alto Networks stock. The shares were sold at an average price of $270.00, for a total value of $149,850.00.
- On Wednesday, June 10th, Aparna Bawa sold 377 shares of Palo Alto Networks stock. The shares were sold at an average price of $265.00, for a total value of $99,905.00.
Palo Alto Networks Price Performance
NASDAQ PANW opened at $279.62 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average is $216.44 and its two-hundred day moving average is $189.26. The company has a market capitalization of $227.89 billion, a price-to-earnings ratio of 229.20, a PEG ratio of 10.38 and a beta of 0.94. Palo Alto Networks, Inc. has a 1-year low of $139.57 and a 1-year high of $302.95.
Institutional Investors Weigh In On Palo Alto Networks
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Palo Alto Networks by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 67,929,063 shares of the network technology company’s stock valued at $12,512,533,000 after purchasing an additional 2,659,100 shares in the last quarter. State Street Corp raised its position in Palo Alto Networks by 2.0% in the 4th quarter. State Street Corp now owns 30,331,705 shares of the network technology company’s stock worth $5,587,100,000 after purchasing an additional 594,789 shares during the last quarter. Bank of America Corp DE raised its position in Palo Alto Networks by 16.0% in the 1st quarter. Bank of America Corp DE now owns 22,476,753 shares of the network technology company’s stock worth $3,603,473,000 after purchasing an additional 3,101,267 shares during the last quarter. Geode Capital Management LLC raised its position in Palo Alto Networks by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 15,989,257 shares of the network technology company’s stock worth $2,934,935,000 after purchasing an additional 540,756 shares during the last quarter. Finally, Norges Bank bought a new position in Palo Alto Networks in the 4th quarter worth approximately $1,415,364,000. 79.82% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. New Street Research decreased their price objective on Palo Alto Networks from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. Wedbush lifted their price objective on Palo Alto Networks from $300.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. TD Cowen reaffirmed a “buy” rating and set a $330.00 price objective (up from $255.00) on shares of Palo Alto Networks in a report on Wednesday, June 3rd. BMO Capital Markets lifted their target price on shares of Palo Alto Networks from $270.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Finally, Guggenheim lowered Palo Alto Networks from a “neutral” rating to a “reduce” rating in a research report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $306.59.
View Our Latest Research Report on Palo Alto Networks
About Palo Alto Networks
Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.
The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.
See Also
- Five stocks we like better than Palo Alto Networks
- 3 ETFs Giving Ready-Made Access to the Discounted International Small-Cap Space
- What to Expect From Q2 Earnings as Tech Strength Broadens
- Viasat’s Orbiting Profits: Space Force Jackpot?
- Robinhood Wants a Bigger Role in IPOs—Here’s Why It Matters
Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.
