Palo Alto Networks gets OK to repurchase more stock

Cybersecurity firm Palo Alto Networks Inc.
PANW,
+0.36%
said in a filing Friday said that its board has approved the repurchase of up to an extra $316.7 million of the company’s stock. The OK from the board represents an increase to the company’s existing $3.3 billion buyback program, which was first approved in 2019 and later extended, Palo Alto said. Roughly $683.3 million of that was still available as of Oct. 31. The repurchase authorization period has been extended and will expire on Dec. 31, 2024. The company said that authorization “may be suspended or discontinued by the company at any time without prior notice.” Shares were down 0.2% after hours on Friday.