Palo Alto Networks Surges Up 31% After IPO

Posted Jul 20, 2012

The Kayak.com IPO is not the only one that is going well today.  Palo Networks has opened up their IPO trading by surging 31% from their already boosted range of trading.  Palo Alto Networks, a network security systems company, started trading at $55.15 on Friday and has climbed up to $56.40.  The offering price was at $42 as of late Thursday, which was above their expected range of between $38-$40.  The initial range was set at $34-$37 per share.  Palo Alto Networks is trading on the New York Stock Exchange under the symbol PANW.  They sold around 6.2 million shares.