Palo Alto Networks Inc’s recent filing unveils that its EVP, Chief Product Officer Klarich Lee unloaded Company’s shares for reported $16.08 million on Apr 05 ’24. In the deal valued at $268.04 per share,60,000 shares were sold. As a result of this transaction, Klarich Lee now holds 174,075 shares worth roughly $50.73 million.
Then, ZUK NIR sold 36,000 shares, generating $10,096,399 in total proceeds. Upon selling the shares at $280.46, the EVP, Chief Technology Officer now owns 1,331,567 shares.
Before that, Paul Josh D. sold 250 shares. Palo Alto Networks Inc shares valued at $71,272 were divested by the Chief Accounting Officer at a price of $285.09 per share. As a result of the transaction, Paul Josh D. now holds 26,294 shares, worth roughly $7.66 million.
Rosenblatt downgraded its Palo Alto Networks Inc [PANW] rating to a Neutral from a a Buy in a research note published on February 21, 2024; the price target was decreased to $265 from $290. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who decreased its forecast for the stock in late February from “an Overweight” to “a Neutral”. Northland Capital also remained covering PANW and has decreased its forecast on February 21, 2024 with a “Market perform” recommendation from previously “an Outperform” rating. Loop Capital revised its rating on February 21, 2024. It rated PANW as “a Hold” which previously was an “a Buy”.
Price Performance Review of PANW
On Friday, Palo Alto Networks Inc [NASDAQ:PANW] saw its stock jump 0.91% to $291.42. Over the last five days, the stock has gained 4.94%. Palo Alto Networks Inc shares have fallen nearly -1.17% since the year began. Nevertheless, the stocks have risen 58.56% over the past one year. While a 52-week high of $380.84 was reached on 02/09/24, a 52-week low of $176.30 was recorded on 02/21/24. SMA at 50 days reached $289.26, while 200 days put it at $274.19. A total of 2.24 million shares were traded, compared to the trading of 2.85 million shares in the previous session.
Levels Of Support And Resistance For PANW Stock
The 24-hour chart illustrates a support level at 287.86, which if violated will result in even more drops to 284.30. On the upside, there is a resistance level at 294.56. A further resistance level may holdings at 297.69. The Relative Strength Index (RSI) on the 14-day chart is 55.73, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 8.80, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 14.12%. Stochastics %K at 86.91% indicates the stock is a selling.
