Shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) have been given an average recommendation of “Moderate Buy” by the thirty-five ratings firms that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and twenty-two have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $218.79.
A number of brokerages have issued reports on PANW. Barclays boosted their price objective on shares of Palo Alto Networks from $201.67 to $231.67 and gave the company an “overweight” rating in a research report on Tuesday, August 23rd. Stifel Nicolaus upped their price target on shares of Palo Alto Networks from $200.00 to $215.00 in a research report on Tuesday, August 23rd. Raymond James increased their target price on shares of Palo Alto Networks from $203.33 to $213.33 in a report on Tuesday, August 23rd. Atlantic Securities assumed coverage on shares of Palo Alto Networks in a report on Friday, September 2nd. They issued a “neutral” rating and a $165.00 target price for the company. Finally, BMO Capital Markets increased their price objective on shares of Palo Alto Networks from $216.67 to $225.00 in a report on Tuesday, August 23rd.
Palo Alto Networks Stock Down 2.9 %
PANW opened at $166.18 on Friday. The firm has a 50-day moving average price of $182.39 and a 200-day moving average price of $180.69. Palo Alto Networks has a twelve month low of $140.52 and a twelve month high of $213.63. The company has a market capitalization of $49.72 billion, a price-to-earnings ratio of -183.29, a PEG ratio of 8.23 and a beta of 1.13.
Insider Buying and Selling
In other Palo Alto Networks news, CEO Nikesh Arora sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $554.56, for a total value of $6,932,000.00. Following the transaction, the chief executive officer now directly owns 462,514 shares of the company’s stock, valued at $256,491,763.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Palo Alto Networks news, EVP Nir Zuk sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $501.62, for a total value of $6,019,440.00. Following the completion of the transaction, the executive vice president now directly owns 684,273 shares in the company, valued at approximately $343,245,022.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Nikesh Arora sold 12,500 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $554.56, for a total transaction of $6,932,000.00. Following the sale, the chief executive officer now owns 462,514 shares of the company’s stock, valued at $256,491,763.84. The disclosure for this sale can be found here. Insiders sold 46,034 shares of company stock valued at $23,954,654 over the last quarter. Corporate insiders own 2.20% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in PANW. Nuveen Asset Management LLC increased its holdings in Palo Alto Networks by 317.3% during the fourth quarter. Nuveen Asset Management LLC now owns 1,237,932 shares of the network technology company’s stock worth $689,231,000 after buying an additional 941,271 shares during the last quarter. 1832 Asset Management L.P. boosted its position in shares of Palo Alto Networks by 10.1% in the first quarter. 1832 Asset Management L.P. now owns 941,293 shares of the network technology company’s stock valued at $578,094,000 after acquiring an additional 85,993 shares during the period. Norges Bank bought a new stake in Palo Alto Networks during the fourth quarter valued at approximately $522,352,000. Northern Trust Corp lifted its position in Palo Alto Networks by 1.1% during the first quarter. Northern Trust Corp now owns 861,098 shares of the network technology company’s stock valued at $536,041,000 after purchasing an additional 8,994 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Palo Alto Networks by 3.3% during the second quarter. Legal & General Group Plc now owns 804,072 shares of the network technology company’s stock valued at $397,164,000 after purchasing an additional 25,652 shares during the last quarter. 86.17% of the stock is owned by institutional investors.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer's network and instances in public or private cloud environments, as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.
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