Palo Alto Networks ipo stock symbol and shares prices

Palo Alto Networks ipo stock symbol and shares prices, Palo Alto Networks ipo prospectus : Palo Alto Networks expects to price its initial public offering at $34 to $37 a share. The company plans to sell 6.2 million shares, including 1,512,741 from selling holders. The deal is led by Morgan Stanley, Goldman Sachs and Citigroup; other banks involved include Credit Suisse, Barclays, UBS and Raymond James.

After the offering, the provider of network security products will have 66.6 million shares outstanding, or 67.5 million is the over-allotment option on the offering is exercised. It the over-allotment option is exercised and the stock is priced at the top of the range, the company would have a valuation of just under $2.5 billion.

For the 9 months ended April 30, the company posted revenue of $179.5 million and net income of $5.3 million, up from $78.4 million and a loss of $6.5 million in the comparable year-earlier period. For the July 2011 fiscal year, the company had revenue of $118.6 million and a loss of $12.5 million.

I would note that most of the selling holders are insiders and other individuals; the two largest venture investors – Greylock Partners and Sequoia Capital, each with a 22.3% stake before the offering, 20.7% after – are not selling shares in the IPO.

The company plans to trade on the New York Stock Exchange under the symbol PANW.

The company provides a unique firewall that caters to the idea of “bringing your own device,” or BYOD. That is, as IT departments become more fearful of people using personal technology in the workplace, they will use solutions such as firewalls to block certain services such as Dropbox and Facebook. Some of these services, however, can add to the productivity of an employees, and business recognize this. Thus Palo Alto Networks came up with a firewall that is able to block specific parts of an application, as determined by the IT manager.

So your company can allow access to Facebook’s status sharing feature to promote content but can block the chatting feature if they think it’s too distracting. They can also block things like attachments in e-mails or photo-sharing in order to keep proprietary information secret.

In 2011, Palo Alto Networks made $118.6 million in revenue, 143 percent higher than revenue for 2010.

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