Palo Alto Networks (NYSE:PANW) issued its earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.06, Bloomberg Earnings reports. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. The business had revenue of $505.50 million during the quarter, compared to analysts’ expectations of $489.36 million. During the same quarter in the prior year, the business posted $0.55 EPS. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. Palo Alto Networks updated its Q2 guidance to $0.78-0.80 EPS and its FY18 guidance to $3.35-3.41 EPS.
Palo Alto Networks (NYSE PANW) traded down $1.45 during mid-day trading on Wednesday, reaching $141.37. The company’s stock had a trading volume of 1,719,513 shares, compared to its average volume of 1,771,524. Palo Alto Networks has a 12-month low of $107.31 and a 12-month high of $157.65.
In related news, President Mark Anderson sold 15,614 shares of Palo Alto Networks stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $144.16, for a total transaction of $2,250,914.24. Following the completion of the sale, the president now directly owns 186,413 shares of the company’s stock, valued at approximately $26,873,298.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Nir Zuk sold 2,000 shares of Palo Alto Networks stock in a transaction on Monday, September 11th. The shares were sold at an average price of $145.01, for a total value of $290,020.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 346,785 shares of company stock valued at $51,471,366. Corporate insiders own 4.80% of the company’s stock.
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About Palo Alto Networks
Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
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