Palo Alto Networks Inc’s recent filing unveils that its EVP, Chief Product Officer Klarich Lee unloaded Company’s shares for reported $1.64 million on May 07 ’24. In the deal valued at $304.70 per share,5,391 shares were sold. As a result of this transaction, Klarich Lee now holds 166,542 shares worth roughly $49.54 million.
Then, Klarich Lee sold 121,276 shares, generating $36,334,450 in total proceeds. Upon selling the shares at $299.60, the EVP, Chief Product Officer now owns 166,542 shares.
Before that, ZUK NIR sold 36,000 shares. Palo Alto Networks Inc shares valued at $10,376,810 were divested by the EVP, Chief Technology Officer at a price of $288.24 per share. As a result of the transaction, ZUK NIR now holds 1,295,567 shares, worth roughly $385.39 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 0.61% to $297.47. Over the last five days, the stock has gained 0.43%. Palo Alto Networks Inc shares have risen nearly 0.88% since the year began. Nevertheless, the stocks have risen 49.18% over the past one year. While a 52-week high of $380.84 was reached on 02/09/24, a 52-week low of $186.75 was recorded on 02/21/24. SMA at 50 days reached $285.46, while 200 days put it at $276.81. A total of 2.13 million shares were traded, compared to the trading of 3.01 million shares in the previous session.
Levels Of Support And Resistance For PANW Stock
The 24-hour chart illustrates a support level at 295.94, which if violated will result in even more drops to 294.41. On the upside, there is a resistance level at 299.98. A further resistance level may holdings at 302.50. The Relative Strength Index (RSI) on the 14-day chart is 55.76, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.51, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 41.36%. Stochastics %K at 67.66% indicates the stock is a holding.
