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New CEO Makes Palo Alto’s First Insider Stock Buy

barrons.com
New CEO Makes Palo Alto’s First Insider Stock Buy

Palo Alto Networks’ new chairman and chief executive cemented his place at the company in his second and third days on the job. Nikesh Arora was named to the chairman and CEO posts effective June 6. On June 7 and 8 he bought 33,255 Palo Alto shares (ticker: PANW) for $6.6 million, or $199.20 each on average. These are the first open-market stock purchases by a Palo Alto executive or director since the company went public in July 2012.