Nancy Pelosi’s Spouse Gathers Palo Alto Networks Stock Options
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Former speaker, Nancy Pelosi, has become a poster child in the arena of Congressional Trading for the extensive stock trading trends of her husband, Paul Pelosi. After profiting from several high Market Cap stocks like Alphabet Inc. (GOOGL:US) and NVIDIA Inc. (NVDA:US), she recently reported a trade involving cybersecurity solutions provider, Palo Alto Networks Inc (PANW:US).
On Feb 12 and 21, Paul Pelosi purchased stock options of PANW in two transactions:
Feb 12: He bought 20 call options with an expiration date of 1/17/25 and a total value between $100,001 and $250,000.
Feb 21: He bought 50 call options with an expiration date of 1/17/25 and a total value between $500,001 and $1,000,000.
Considering data from the past three years, this is the Pelosis’ first trade in PANW. Other congressmembers who have been trading in the tech stock included Rep. Ro Khanna, who reported two trades of a maximum of $30,000 value under his Spouse and Child’s names. Additionally, Rep. Bill Keating invested up to $15,000 in Palo Alto stock on Jan 24.
Palo Alto Networks, Inc., headquartered in Santa Clara, California, is a global provider of cybersecurity solutions, offering firewall appliances, software, and Panorama, a security management solution. Despite a recent dip on Feb 20, the company's stock has shown a consistent upward trend, with a notable surge of 7.33% on Feb 26’s trading session. Over the past six months, Palo Alto's stock has risen by nearly 30.27% in value, reflecting strong market performance.
On February 20, 2024, Palo Alto disclosed its Fiscal Q2 2024 Financial Results. Among the results, the company listed the quarter’s revenue at $2.0 billion; this marked a YoY rise of 19%. Furthermore, the GAAP net income for the company came at $4.89 per diluted share. Palo Alto also wrapped up the report with a positive outlook for the next quarter and full-year earnings.
Nancy Pelosi’s trade in Palo Alto is her husband’s first this year. Their last trade - an up to $5 million purchase of NVDA’s stock options - has since trading surged by 62.35% as per NVDA’s stock price. The advancement of AI in the tech field has made several stocks in the sector ripe for picking. But the Pelosis’ investment always adds another layer to this discussion.
