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

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $345.00 target price on shares of Palo Alto Networks in a report on Wednesday, February 21st. Barclays decreased their target price on Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. Oppenheimer decreased their target price on Palo Alto Networks from $310.00 to $305.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Stifel Nicolaus restated a “buy” rating and issued a $330.00 price target on shares of Palo Alto Networks in a report on Wednesday, March 13th. Finally, Redburn Atlantic upped their price target on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Eleven analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.82.

Get Our Latest Analysis on Palo Alto Networks

Palo Alto Networks Stock Down 1.4 %

The company has a 50 day moving average of $314.52 and a two-hundred day moving average of $287.31. 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.

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

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $284.33, for a total value of $17,059,800.00. Following the completion of the transaction, the executive vice president now owns 198,105 shares in the company, valued at approximately $56,327,194.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John Donovan sold 20,136 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $288.57, for a total transaction of $5,810,645.52. Following the completion of the sale, the director now directly owns 43,352 shares in the company, valued at $12,510,086.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the completion of the sale, the executive vice president now owns 198,105 shares of the company’s stock, valued at approximately $56,327,194.65. The disclosure for this sale can be found here. Insiders sold 143,153 shares of company stock worth $44,107,332 in the last quarter. 3.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palo Alto Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in Palo Alto Networks in the fourth quarter worth $751,276,000. International Assets Investment Management LLC increased its position in Palo Alto Networks by 29,086.9% during the fourth quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock worth $606,854,000 after buying an additional 2,050,917 shares during the last quarter. Moneta Group Investment Advisors LLC acquired a new position in Palo Alto Networks during the fourth quarter worth $204,728,000. Jennison Associates LLC increased its position in Palo Alto Networks by 83.1% during the fourth quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock worth $771,643,000 after buying an additional 1,187,915 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Palo Alto Networks by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock worth $8,129,800,000 after buying an additional 1,058,127 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other 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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