Stock News Recap: Palo Alto Networks (NYSE:PANW)

Financial

Palo Alto Networks (NYSE:PANW) has market cap of $19434.68 million and holds 92.9 million shares outstanding. The stock accomplished trade value at $209.2 with -1.30% and traded volume 857304 shares in recent trading period versus to an average volume of 1204.8K. The stock demonstrated move of -1.50% in previous 5 days graph. Its quarterly performance stands with the percentage of -3.41% while its year to date performance showed change of 44.34%.

Palo Alto Networks (NYSE:PANW), the global cybersecurity leader, announced that its board of directors has named Amit K. Singh as president, effective November 1, 2018. As president, Singh succeeds Mark Anderson, who will move into an advisory role until May 1, 2019, to facilitate a smooth transition of responsibilities. Singh will report to Nikesh Arora, Palo Alto Networks CEO.

Previously, Singh was the president of Google Cloud and, most recently, Google’s vice president of business and operations in emerging computing platforms, including augmented and virtual reality. He established and helped scale the Google Cloud business, leading several thousand people and growing it into a multibillion-dollar business. Prior to joining Google, Singh spent 20 years with Oracle in various product, engineering, sales and strategy roles. He helped Oracle acquire and successfully integrate PeopleSoft, Agile and Demantra, helping them accelerate their growth rate post acquisition.

“I’m pleased to welcome Amit to Palo Alto Networks,” said Nikesh Arora, CEO of Palo Alto Networks. “I have been continually impressed by Amit’s leadership and believe his experience growing cloud businesses and driving revenue at scale will help us strengthen our position as the clear leader in cybersecurity.”

Singh said, “I’m excited and honored to join Nikesh and the team at Palo Alto Networks. After extensive discussions with the leadership team and the board, I am convinced that Palo Alto Networks is best positioned to help companies protect their information. I look forward to applying my cloud experience to the challenges facing cybersecurity.”

The stock has monthly performance of -10.83% while its yearly performance remained at 39.55%. Its return on investment (ROI) for the last 12 months was -5.10% and its return on equity (ROE) of -19.80% while return on assets (ROA) is at -3.50%. The Company has an insider ownership of 2.40% and institutional ownership remained 84.10%.

Gabriel Smith joined the mosttradedstocks.com, after more than 10 years of experience in writing financial and business news, most recently as Investment Editor and writer. He also has a vast knowledge of stock trading. He earned bachelor degree from Union College with a focus in Business Administration. Wayne is the Senior Editor for mosttradedstocks.com and market movers section. He also holds an MBA from Penn State University He has two daughter and two children.

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