Palo Alto Networks (NASDAQ:PANW) Trading Up 0%

Palo Alto Networks, Inc. (NASDAQ:PANWGet Free Report)’s share price was up 0% during mid-day trading on Wednesday . The company traded as high as $273.84 and last traded at $273.44. Approximately 1,024,769 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 5,862,268 shares. The stock had previously closed at $273.40.

Analysts Set New Price Targets

Several research firms have recently commented on PANW. Barclays dropped their target price on shares of Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. Loop Capital cut shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a research report on Wednesday, February 21st. BMO Capital Markets lowered their price target on shares of Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating for the company in a research report on Wednesday, February 21st. Susquehanna decreased their target price on shares of Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating for the company in a report on Monday, February 26th. Finally, Raymond James cut shares of Palo Alto Networks from an “outperform” rating to a “market perform” rating in a report on Monday, December 18th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $314.82.

Get Our Latest Stock Analysis on Palo Alto Networks

Palo Alto Networks Price Performance

The firm has a market cap of $87.10 billion, a P/E ratio of 42.31, a PEG ratio of 3.81 and a beta of 1.19. The stock’s 50-day simple moving average is $314.52 and its two-hundred day simple moving average is $287.31.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. As a group, sell-side analysts expect that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $284.33, for a total value of $17,059,800.00. Following the transaction, the executive vice president now directly owns 198,105 shares in the company, valued at $56,327,194.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $284.33, for a total value of $17,059,800.00. Following the transaction, the executive vice president now directly owns 198,105 shares in the company, valued at $56,327,194.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the transaction, the chief accounting officer now owns 27,247 shares in the company, valued at $7,629,160. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 143,153 shares of company stock worth $44,107,332. Insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Worth Asset Management LLC bought a new stake in shares of Palo Alto Networks in the 1st quarter valued at about $26,000. Frank Rimerman Advisors LLC bought a new stake in shares of Palo Alto Networks in the 4th quarter valued at about $27,000. First Pacific Financial boosted its holdings in shares of Palo Alto Networks by 421.7% in the 3rd quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock valued at $28,000 after buying an additional 97 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new stake in shares of Palo Alto Networks in the 2nd quarter valued at about $28,000. Finally, Fortis Capital Advisors LLC bought a new stake in shares of Palo Alto Networks in the 4th quarter valued at about $28,000. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Company Profile

(Get Free Report)

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.

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