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

Shares of Palo Alto Networks, Inc. (NASDAQ:PANWGet Free Report) fell 0% during mid-day trading on Friday . The company traded as low as $285.56 and last traded at $287.62. 1,217,209 shares were traded during mid-day trading, a decline of 80% from the average session volume of 6,180,610 shares. The stock had previously closed at $287.63.

Analyst Ratings Changes

A number of brokerages have issued reports on PANW. Mizuho reduced their price objective on shares of Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Loop Capital downgraded shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a research report on Wednesday, February 21st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, March 13th. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research note on Monday, January 29th. Finally, Oppenheimer dropped their target price on shares of Palo Alto Networks from $310.00 to $305.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Eleven research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $314.82.

Check Out Our Latest Analysis on Palo Alto Networks

Palo Alto Networks Stock Performance

The company has a market cap of $92.66 billion, a PE ratio of 44.81, a PEG ratio of 3.92 and a beta of 1.21. The business’s 50-day moving average is $322.04 and its 200 day moving average is $285.27.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last issued its earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 2.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palo Alto Networks news, Director John Donovan sold 7,000 shares of the firm’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $330.03, for a total value of $2,310,210.00. Following the sale, the director now owns 33,352 shares of the company’s stock, valued at approximately $11,007,160.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the sale, the executive vice president now owns 198,105 shares of the company’s stock, valued at approximately $56,327,194.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Donovan sold 7,000 shares of Palo Alto Networks stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $330.03, for a total transaction of $2,310,210.00. Following the sale, the director now directly owns 33,352 shares in the company, valued at approximately $11,007,160.56. The disclosure for this sale can be found here. Insiders have sold a total of 143,153 shares of company stock valued at $44,107,332 in the last quarter. Insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Palo Alto Networks

Several hedge funds have recently bought and sold shares of PANW. Worth Asset Management LLC purchased a new position in Palo Alto Networks in the first quarter worth about $26,000. Frank Rimerman Advisors LLC purchased a new position in Palo Alto Networks in the fourth quarter worth about $27,000. First Pacific Financial raised its holdings in Palo Alto Networks by 421.7% in the third quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock worth $28,000 after buying an additional 97 shares during the last quarter. Pin Oak Investment Advisors Inc. purchased a new position in Palo Alto Networks in the second quarter worth about $28,000. Finally, Fortis Capital Advisors LLC purchased a new position in Palo Alto Networks in the fourth quarter worth about $28,000. Institutional investors own 85.69% of the company’s stock.

About Palo Alto Networks

(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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