On August 23, 2024, John Key, Director at Palo Alto Networks Inc (NASDAQ:PANW), sold 3,000 shares of the company’s stock. The transaction was reported in an SEC filing. Following this transaction, the insider now directly owns 8,639 shares of the company’s stock.
Palo Alto Networks Inc. is a global cybersecurity leader known for its comprehensive cybersecurity solutions that protect businesses across clouds, networks and mobile devices.
Over the last year, John Key has sold a total of 8,460 shares of Palo Alto Networks Inc. and made no purchases. This recent sale is part of a broader trend seen within the company. Over the last year, there have been 62 insider sales and no insider purchases.
Palo Alto Networks Inc.’s stock price on the day of sale was $349.68. The company currently has a market capitalization of around $114.03 billion. The company’s price-to-earnings ratio is 48.38, which is higher than the industry average of 25.24.
The stock is considered significantly overvalued with a price-to-GF-Value ratio of 1.38, based on a GF-Value of $252.60. The GF-Value is calculated by taking into account historical trading multiples, an adjustment factor based on past earnings and growth, and estimates of future business performance.
This insider sale may be of interest to investors who follow insider behavior as an indicator of the company’s future performance and valuation.
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