The sale comes ahead of the cybersecurity company's fiscal third quarter results next week.
Shortly after the opening bell, we will be selling 25 shares of Palo Alto Networks at roughly $315.50. Following the trade, Jim Cramer 's Charitable Trust will own 275 shares of PANW, decreasing its weighting in the portfolio to 2.67% from 2.90%. We talked Wednesday on our Morning Meeting about how Palo Alto Networks may have a positive setup into earnings Monday night , according to Morgan Stanley.
The stock has climbed more than 17% since April 4 and is up about 5% over the past three sessions alone. And in early trading Thursday, it looks like it will tack on another percent and change after announcing a deal to buy the cloud security software assets from IBM alongside an expanded partnership between the two tech companies. Many analysts are positive on the move.
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