Palo Alto Networks Inc’s filing revealed that its Chief Executive Officer Arora Nikesh unloaded Company’s shares for reported $30.02 million on Oct 10 ’24. In the deal valued at $367.99 per share,81,586 shares were sold. As a result of this transaction, Arora Nikesh now holds 618,715 shares worth roughly $226.72 million.
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Then, Nikesh Arora bought 81,586 shares, generating $30,137,868 in total proceeds.
Before that, Lee Klarich bought 60,000 shares. Palo Alto Networks Inc shares valued at $20,541,600 were divested by the Officer at a price of $342.36 per share.
Exane BNP Paribas initiated its Palo Alto Networks Inc [PANW] rating to an Outperform in a research note published on October 08, 2024; the price target was $410. A number of analysts have revised their coverage, including Redburn Atlantic’s analysts, who decreased its forecast for the stock in mid July from “a Buy” to “a Neutral”. DA Davidson began covering PANW with “Buy” recommendation on June 21, 2024. Daiwa Securities started covering the stock on May 29, 2024. It rated PANW as “an Outperform”.
Price Performance Review of PANW
On Friday, Palo Alto Networks Inc [NASDAQ:PANW] saw its stock jump 0.51% to $366.44. Over the last five days, the stock has lost -2.24%. Palo Alto Networks Inc shares have risen nearly 24.27% since the year began. Nevertheless, the stocks have risen 49.70% over the past one year. While a 52-week high of $384.00 was reached on 10/21/24, a 52-week low of $233.81 was recorded on 02/21/24. SMA at 50 days reached $351.34, while 200 days put it at $322.21.
Levels Of Support And Resistance For PANW Stock
The 24-hour chart illustrates a support level at 363.99, which if violated will result in even more drops to 361.53. On the upside, there is a resistance level at 370.65. A further resistance level may holdings at 374.85. The Relative Strength Index (RSI) on the 14-day chart is 55.55, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -6.71, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 45.03%. Stochastics %K at 53.50% indicates the stock is a holding.
How much short interest is there in Palo Alto Networks Inc?
A steep rise in short interest was recorded in Palo Alto Networks Inc stocks on 2024-10-15, dropping by -1.33 million shares to a total of 9.12 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 10.45 million shares. There was a decline of -14.57%, which implies that there is a negative sentiment for the stock.
