Palo Alto Networks Inc (NYSE:PANW) CEO Purchases $5,538,500.00 in Stock

Palo Alto Networks Inc (NYSE:PANW) CEO Nikesh Arora purchased 25,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average price of $221.54 per share, with a total value of $5,538,500.00. Following the completion of the transaction, the chief executive officer now owns 479,429 shares of the company’s stock, valued at $106,212,700.66. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of NYSE PANW opened at $224.71 on Tuesday. The company has a market capitalization of $22.26 billion, a price-to-earnings ratio of 356.68 and a beta of 0.94. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.78 and a quick ratio of 1.78. The business has a 50-day moving average of $230.22 and a two-hundred day moving average of $215.49. Palo Alto Networks Inc has a 1 year low of $168.80 and a 1 year high of $260.63.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Monday, November 25th. The network technology company reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $1.22. The company had revenue of $772.00 million during the quarter, compared to the consensus estimate of $769.34 million. Palo Alto Networks had a positive return on equity of 2.43% and a negative net margin of 3.42%. Palo Alto Networks’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.17 EPS. As a group, equities research analysts expect that Palo Alto Networks Inc will post -0.12 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Carlson Capital L P increased its position in shares of Palo Alto Networks by 26.4% during the second quarter. Carlson Capital L P now owns 186,934 shares of the network technology company’s stock worth $38,090,000 after purchasing an additional 39,057 shares in the last quarter. Cumberland Partners Ltd increased its position in shares of Palo Alto Networks by 33.3% during the second quarter. Cumberland Partners Ltd now owns 2,000 shares of the network technology company’s stock worth $408,000 after purchasing an additional 500 shares in the last quarter. BBT Capital Management LLC acquired a new stake in shares of Palo Alto Networks during the second quarter worth about $756,000. Grandeur Peak Global Advisors LLC increased its position in shares of Palo Alto Networks by 3.4% during the second quarter. Grandeur Peak Global Advisors LLC now owns 6,075 shares of the network technology company’s stock worth $1,238,000 after purchasing an additional 200 shares in the last quarter. Finally, Hartford Investment Management Co. increased its position in shares of Palo Alto Networks by 2.9% during the second quarter. Hartford Investment Management Co. now owns 10,590 shares of the network technology company’s stock worth $2,158,000 after purchasing an additional 303 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Several research firms have recently commented on PANW. Rosenblatt Securities restated a “hold” rating and set a $220.00 price target on shares of Palo Alto Networks in a research report on Tuesday, November 26th. Goldman Sachs Group began coverage on Palo Alto Networks in a report on Tuesday, November 12th. They issued a “buy” rating and a $295.00 target price for the company. SunTrust Banks reiterated a “buy” rating and issued a $246.00 target price on shares of Palo Alto Networks in a report on Tuesday, November 26th. Wells Fargo & Co decreased their target price on Palo Alto Networks from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Finally, Northland Securities reiterated a “hold” rating and issued a $240.00 target price on shares of Palo Alto Networks in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Palo Alto Networks presently has an average rating of “Buy” and an average target price of $261.06.

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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