Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Palo Alto Networks Inc shares valued at $1,642,647 were sold by Klarich Lee on May 07 ’24. At $304.70 per share, Klarich Lee sold 5,391 shares. The insider’s holdings dropped to 166,542 shares worth approximately $50.46 million following the completion of this transaction.
Also, Klarich Lee sold 121,276 shares, netting a total of over 36,334,450 in proceeds. Following the sale of shares at $299.60 each, the insider now holds 166,542 shares.
Before that, ZUK NIR had sold 36,000 shares from its account. In a trade valued at $10,376,810, the EVP, Chief Technology Officer traded Palo Alto Networks Inc shares for $288.24 each. Upon closing the transaction, the insider’s holdings decreased to 36,000 shares, worth approximately $392.57 million.
As published in a research note from Rosenblatt on February 21, 2024, Palo Alto Networks Inc [PANW] has been rated down from a Buy to a Neutral and the price target has been revised to $265 from $290. Analysts at Piper Sandler downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in late February. As of February 21, 2024, Northland Capital has decreased its “an Outperform” rating to a “Market perform” for PANW. Earlier on February 21, 2024, Loop Capital downgraded its rating. Their new recommendation was “a Hold” for PANW stock which previously was a “a Buy”.
Analyzing PANW Stock Performance
During the last five days, there has been a surge of approximately 5.45%. Over the course of the year, Palo Alto Networks Inc shares have jumped approximately 2.76%. Shares of the company reached a 52-week high of $380.84 on 02/09/24 and a 52-week low of $260.09 on 02/21/24. A 50-day SMA is recorded $286.13, while a 200-day SMA reached $276.28. Nevertheless, trading volume fell to 3.11 million shares from 2.89 million shares the previous day.
Support And Resistance Levels for Palo Alto Networks Inc (PANW)
According to the 24-hour chart, there is a support level at 300.26, which, if violated, would cause prices to drop to 297.50. In the upper region, resistance lies at 305.02. The next price resistance is at 307.02. RSI (Relative Strength Index) is 61.81 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 10.23, which suggests the price will increase in the coming days. Percent R is at 16.86%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
