Palo Alto Networks Executive Sells $65M in Stock
Nir Zuk, co-founder and chief technology officer of Palo Alto Networks (PANW), recently sold a significant portion of his shares in the company, worth $65.1 million. Palo Alto Networks is a cybersecurity company that offers advanced firewall and cloud security solutions to protect organizations from cyber threats.
According to a recent SEC filing, Zuk divested 168,000 shares of PANW on November 22 and November 25, at prices ranging from $383.45 to $395.91. Prior to the sale, he exercised an option to purchase 1,509,057 shares at a significantly lower price of $64.50 per share. Even after these transactions, Zuk still holds shares of Palo Alto Networks worth approximately $810.11 million.
Zuk’s insider sale comes on the heels of Palo Alto Networks’ mixed fiscal Q1 results. While the company reported sales below analyst estimates, its earnings exceeded expectations. Despite this, PANW raised its Fiscal 2025 guidance, projecting higher revenues and adjusted EPS.
Zuk is not alone in reducing his stake in the company. Other insiders have sold a total of $68.5 million worth of PANW stock in the last three months, reflecting negative insider sentiment, according to TipRanks’ Insider Trading Activity Tool.
Investors may find it beneficial to monitor insider transactions, as they can indicate insider confidence in the company’s future. TipRanks provides daily insider transactions, a list of top corporate insiders, and hot stocks showing positive insider confidence signals.
On Wall Street, PANW stock currently has a Strong Buy consensus rating based on 31 Buys, four Holds, and one Sell in the last three months. With an average price target of $424.15, there is a potential 7% upside for Palo Alto Networks shares, which have gained 34.43% year-to-date.
Please note that all information in this article is based on verified sources and publicly available data.
