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Barchart
Anushka Dutta

CEO Nikesh Arora Just Bought $10 Million of Palo Alto Networks Stock. Should You Load Up on PANW Too?

Palo Alto Networks Nikesh Arora PANW Palo Alto CyberArk JPMorgan Wells Fargo

Cybersecurity company Palo Alto Networks (PANW) received a boost after its CEO, Nikesh Arora, disclosed buying $10 million worth of the company’s stock, boosting his direct stake by more than 24% through an open-market purchase of 68,085 shares. 

JPMorgan analysts also viewed this as a bullish signal, calling the move a “substantial vote of confidence.” Analyst Brian Essex believes that the stock’s selloff has moved beyond reason, and this insider support looks encouraging. 

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