Palo Alto Networks (NASDAQ:PANW) Stock Price Up 0.7%

Palo Alto Networks, Inc. (NASDAQ:PANW) shot up 0.7% during mid-day trading on Monday . The stock traded as high as $341.95 and last traded at $341.52. 915,094 shares were traded during trading, a decline of 81% from the average session volume of 4,814,146 shares. The stock had previously closed at $339.01.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wedbush reiterated an “outperform” rating and issued a $375.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 21st. Redburn Atlantic boosted their target price on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Susquehanna lifted their price target on Palo Alto Networks from $325.00 to $340.00 and gave the company a “positive” rating in a report on Tuesday, May 21st. Daiwa Capital Markets began coverage on Palo Alto Networks in a research report on Wednesday, May 29th. They set an “outperform” rating and a $350.00 price target on the stock. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $330.00 target price on shares of Palo Alto Networks in a research note on Wednesday, March 13th. Twelve equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus price target of $326.29.

Palo Alto Networks Stock Down 0.1 %

The firm has a market capitalization of $110.23 billion, a price-to-earnings ratio of 49.48, a P/E/G ratio of 5.19 and a beta of 1.14. The business has a 50-day moving average of $308.24 and a two-hundred day moving average of $307.39.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the company earned $0.38 earnings per share. The business’s revenue was up 15.3% compared to the same quarter last year. Equities analysts predict that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal 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 Friday, April 5th. The shares were sold at an average price of $268.04, for a total value of $16,082,400.00. Following the sale, the executive vice president now owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00. Following the transaction, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,621 shares of Palo Alto Networks stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total value of $497,517.32. Following the completion of the transaction, the president now owns 20,501 shares of the company’s stock, valued at approximately $6,292,166.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 259,857 shares of company stock valued at $75,418,399. Corporate insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks during the first quarter worth $25,000. Frank Rimerman Advisors LLC bought a new stake in shares of Palo Alto Networks in the 4th quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. raised its position in shares of Palo Alto Networks by 3,200.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 96 shares during the period. Webster Bank N. A. grew its holdings in Palo Alto Networks by 607.1% during the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 85 shares during the period. Finally, Cedar Mountain Advisors LLC increased its stake in Palo Alto Networks by 87.0% in the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 47 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Company Profile

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.