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 $21,639,066 were sold by Klarich Lee on Nov 04 ’24. At $360.65 per share, Klarich Lee sold 60,000 shares. The insider’s holdings dropped to 182,928 shares worth approximately $70.46 million following the completion of this transaction.
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Also, Paul Josh D. sold 200 shares, netting a total of over 71,806 in proceeds. Following the sale of shares at $359.03 each, the insider now holds 26,220 shares.
Before that, Lee Klarich had added 60,000 shares to its account. In a trade valued at $21,667,200, the Officer bought Palo Alto Networks Inc shares for $361.12 each.
Analysts at Exane BNP Paribas started covering the stock with ‘”an Outperform”‘ outlook in a report released in early October. As of July 18, 2024, Redburn Atlantic has decreased its “Buy” rating to a “Neutral” for PANW. Earlier on June 21, 2024, DA Davidson initiated its rating. Their recommendation was “a Buy” for PANW stock.
Analyzing PANW Stock Performance
During the last five days, there has been a surge of approximately 7.14%. Over the course of the year, Palo Alto Networks Inc shares have jumped approximately 30.62%. Shares of the company reached a 52-week high of $386.20 on 11/06/24 and a 52-week low of $260.09 on 02/21/24. A 50-day SMA is recorded $353.74, while a 200-day SMA reached $323.45. Nevertheless, trading volume fell to 2.48 million shares from 1.35 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 378.72, which, if violated, would cause prices to drop to 372.26. In the upper region, resistance lies at 388.92. The next price resistance is at 392.66. RSI (Relative Strength Index) is 66.34 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.62, which suggests the price will increase in the coming days. Percent R is at 3.38%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
