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 $35,563,320 were purchased by Nir Zuk on Oct 01 ’24. At $329.29 per share, Nir Zuk acquired 108,000 shares.
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Also, ZUK NIR sold 36,000 shares, netting a total of over 12,929,956 in proceeds. Following the sale of shares at $359.17 each, the insider now holds 1,151,567 shares.
Before that, Klarich Lee had sold 60,000 shares from its account. In a trade valued at $20,698,788, the EVP, Chief Product Officer traded Palo Alto Networks Inc shares for $344.98 each. Upon closing the transaction, the insider’s holdings decreased to 60,000 shares, worth approximately $52.81 million.
As published in a research note from Redburn Atlantic on July 18, 2024, Palo Alto Networks Inc [PANW] has been rated down from a Buy to a Neutral and the price target has been revised to $325 from $350. Analysts at DA Davidson started covering the stock with ‘”a Buy”‘ outlook in a report released in late June. As of May 29, 2024, Daiwa Securities has initiated its “an Outperform” rating for PANW. Earlier on February 21, 2024, Rosenblatt downgraded its rating. Their new recommendation was “a Neutral” for PANW stock which previously was a “a Buy”.
Analyzing PANW Stock Performance
During the last five days, there has been a drop of approximately -2.46%. Over the course of the year, Palo Alto Networks Inc shares have jumped approximately 12.63%. 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 $336.54, while a 200-day SMA reached $316.54. Nevertheless, trading volume fell to 2.04 million shares from 2.7 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 327.91, which, if violated, would cause prices to drop to 323.70. In the upper region, resistance lies at 336.98. The next price resistance is at 341.84. RSI (Relative Strength Index) is 44.59 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.19, which suggests the price will decrease in the coming days. Percent R is at 84.07%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
