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EQUITY AWARD PLANS (Tables)
6 Months Ended
Jan. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of RSUs Activity
Below is a summary of RSU activity, including MSUs, under the Stock Plans:
 
Number of
Shares
 
Grant Date Fair Value per Share
 
(in thousands)
 
 
Outstanding at July 31, 2019
22,136

 
$
36.72

Granted
10,511

 
$
29.47

Released
(4,236
)
 
$
33.72

Forfeited
(2,787
)
 
$
34.34

Outstanding at January 31, 2020
25,624

 
$
34.61


Schedule of ESPP Valuation Assumptions
We use the Black-Scholes option pricing model to determine the fair value of shares purchased under the 2016 ESPP with the following weighted average assumptions on the date of grant:
 
Six Months Ended
January 31,
 
2019
 
2020
Expected term (in years)
0.79

 
0.92

Risk-free interest rate
2.5
%
 
1.9
%
Volatility
49.5
%
 
68.7
%
Dividend yield
%
 
%

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total stock-based compensation expense recognized in the condensed consolidated statements of operations is as follows:
 
Three Months Ended
January 31,
 
Six Months Ended
January 31,
 
2019
 
2020
 
2019
 
2020
 
 
 
 
 
 
 
 
 
(in thousands)
Cost of revenue:
 
 
 
 
 
 
 
Product
$
872

 
$
1,458

 
$
1,570

 
$
2,570

Support, entitlements and other services
3,373

 
5,140

 
6,530

 
9,891

Sales and marketing
23,462

 
31,185

 
46,068

 
58,960

Research and development
34,679

 
36,459

 
65,688

 
74,022

General and administrative
10,179

 
11,373

 
18,634

 
21,598

Total stock-based compensation expense
$
72,565


$
85,615

 
$
138,490

 
$
167,041