Palo Alto Networks 3-for-1 split goes into effect

Palo Alto Networks Inc.’s PANW, -0.45% three-for-one stock split went into effect Tuesday following the cybersecurity company’s announcement during its quarterly earnings report in late August. Shares opened at $183.75 Tuesday and were last down 1% from Monday’s split-adjusted close of $182.96, for a year-to-date of about 2% decline, compared with a 23% fall in the ETFMG Prime Cyber Security ETF HACK, -0.15%, a 17% decline in the S&P 500 index SPX, +0.48%, and a 25% drop in the tech-heavy Nasdaq Composite Index COMP, +0.80%. The split leaves Palo Alto Networks with about 299 million shares outstanding, according to FactSet data.