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Palo Alto Networks Inc [PANW] Records 200-Day SMA of $291.41

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 $22,436,132 were sold by Arora Nikesh on Jul 01 ’24. At $336.54 per share, Arora Nikesh sold 66,668 shares. The insider’s holdings dropped to 694,228 shares worth approximately $236.73 million following the completion of this transaction.

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Also, ZUK NIR sold 36,000 shares, netting a total of over 12,209,676 in proceeds. Following the sale of shares at $339.16 each, the insider now holds 1,223,567 shares.

Before that, Jenkins William D Jr had sold 1,475 shares from its account. In a trade valued at $500,202, the President traded Palo Alto Networks Inc shares for $339.12 each. Upon closing the transaction, the insider’s holdings decreased to 1,475 shares, worth approximately $6.49 million.

As published in their initiating research note from DA Davidson on June 21, 2024, Palo Alto Networks Inc [PANW] has been a Buy and the price target has been revised to $380. Analysts at Daiwa Securities started covering the stock with ‘”an Outperform”‘ outlook in a report released in late May. As of February 21, 2024, Rosenblatt has decreased its “Buy” rating to a “Neutral” for PANW. Earlier on February 21, 2024, Piper Sandler downgraded its rating. Their new recommendation was “a Neutral” for PANW stock which previously was a “an Overweight”.

Analyzing PANW Stock Performance

During the last five days, there has been a surge of approximately 4.84%. Over the course of the year, Palo Alto Networks Inc shares have jumped approximately 15.64%. 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 $309.11, while a 200-day SMA reached $291.41. Nevertheless, trading volume fell to 1.02 million shares from 2.12 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 338.97, which, if violated, would cause prices to drop to 336.75. In the upper region, resistance lies at 342.93. The next price resistance is at 344.67. RSI (Relative Strength Index) is 68.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 14.28, which suggests the price will increase in the coming days. Percent R is at 12.82%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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