The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Palo Alto Networks Inc shares valued at $30,022,832 were sold by Arora Nikesh on Oct 10 ’24. At $367.99 per share, Arora Nikesh sold 81,586 shares. The insider’s holdings dropped to 618,715 shares worth approximately $222.43 million following the completion of this transaction.
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Also, Nikesh Arora purchased 81,586 shares, netting a total of over 30,137,868 in proceeds.
Before that, Lee Klarich had added 60,000 shares to its account. In a trade valued at $20,541,600, the Officer bought Palo Alto Networks Inc shares for $342.36 each.
As published in their initiating research note from Exane BNP Paribas on October 08, 2024, Palo Alto Networks Inc [PANW] has been an Outperform and the price target has been revised to $410. Analysts at Redburn Atlantic downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid July. As of June 21, 2024, DA Davidson has initiated its “Buy” rating for PANW. Earlier on May 29, 2024, Daiwa Securities initiated its rating. Their recommendation was “an Outperform” for PANW stock.
Analyzing PANW Stock Performance
During the last five days, there has been a surge of approximately 0.37%. Over the course of the year, Palo Alto Networks Inc shares have jumped approximately 21.92%. Shares of the company reached a 52-week high of $384.00 on 10/21/24 and a 52-week low of $260.09 on 02/21/24. A 50-day SMA is recorded $352.17, while a 200-day SMA reached $322.74. Nevertheless, trading volume fell to 1.46 million shares from 2.21 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 356.17, which, if violated, would cause prices to drop to 352.83. In the upper region, resistance lies at 365.37. The next price resistance is at 371.22. RSI (Relative Strength Index) is 49.86 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -7.35, which suggests the price will decrease in the coming days. Percent R is at 92.69%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
