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 $3,648,465 were sold by Eschenbach Carl M. on Dec 04 ’24. At $405.38 per share, Eschenbach Carl M. sold 9,000 shares. The insider’s holdings dropped to 9,232 shares worth approximately $3.72 million following the completion of this transaction.
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Also, ESCHENBACH FAMILY TRUST purchased 9,000 shares, netting a total of over 3,648,465 in proceeds.
Before that, Klarich Lee had sold 60,000 shares from its account. In a trade valued at $23,364,704, the EVP, Chief Product Officer traded Palo Alto Networks Inc shares for $389.41 each. Upon closing the transaction, the insider’s holdings decreased to 60,000 shares, worth approximately $73.73 million.
As published in a research note from HSBC Securities on November 22, 2024, Palo Alto Networks Inc [PANW] has been rated down from a Hold to a Reduce and the price target has been revised to $291 from $304. Analysts at Rosenblatt upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late November. As of November 21, 2024, Wells Fargo has reiterated its “an Overweight” rating for PANW. Earlier on November 21, 2024, Susquehanna resumed its rating. Their recommendation was “a Positive” for PANW stock.
Analyzing PANW Stock Performance
During the last five days, there has been a surge of approximately 4.85%. Over the course of the year, Palo Alto Networks Inc shares have jumped approximately 36.68%. Shares of the company reached a 52-week high of $408.53 on 11/13/24 and a 52-week low of $260.09 on 02/21/24. A 50-day SMA is recorded $372.92, while a 200-day SMA reached $327.71. Nevertheless, trading volume fell to 1.68 million shares from 1.74 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 400.57, which, if violated, would cause prices to drop to 398.10. In the upper region, resistance lies at 406.50. The next price resistance is at 409.96. RSI (Relative Strength Index) is 61.86 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 8.55, which suggests the price will increase in the coming days. Percent R is at 13.84%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
