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Palo Alto network sharply down on termination of key sales expedition



Shares in Palo Alto Networks (PANW – Get Report) fell sharply on Friday following news of a management departure.

The shares of the security company ended down $ 15.36, or 7%, to $ 199.25 after a report that the sales manager resigned after three years on the job.

Dave Peranich served as Executive Vice President of Worldwide Sales at the firm, and played a major role in increasing the firm's revenue to $ 2.3 billion as of fiscal 2018. Palo Alto Networks confirmed his departure for The Information, saying a search after his replacement is in progress.

Peranich will continue through the end of September, the company said. Year-to-date, the shares in Palo Alto Networks have increased by 1

7%.

Palo Alto Networks is a stake in Jim Cramer's & # 39; s Action Alerts PLUS membership club . Want to be alerted before Jim Cramer buys or sells PANW? Learn more now.


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