Palo Alto Networks, Inc. (NASDAQ:PANW – Get Free Report) President William D. Jenkins, Jr. sold 1,475 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the sale, the president now directly owns 19,026 shares in the company, valued at approximately $6,452,097.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Palo Alto Networks Stock Up 0.2 %
NASDAQ:PANW opened at $341.20 on Thursday. The company has a fifty day moving average of $309.18 and a 200 day moving average of $307.63. Palo Alto Networks, Inc. has a 52 week low of $201.17 and a 52 week high of $380.84. The firm has a market capitalization of $110.48 billion, a P/E ratio of 49.59, a P/E/G ratio of 5.19 and a beta of 1.14.
Palo Alto Networks (NASDAQ:PANW – Get Free Report) last posted its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, beating 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 company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the business posted $0.38 EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. As a group, analysts anticipate that Palo Alto Networks, Inc. will post 2.94 EPS for the current year.
Institutional Investors Weigh In On Palo Alto Networks
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on PANW. DA Davidson began coverage on shares of Palo Alto Networks in a research report on Friday, June 21st. They issued a “buy” rating and a $380.00 price target on the stock. Daiwa Capital Markets began coverage on shares of Palo Alto Networks in a research report on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 price target on the stock. Macquarie boosted their price target on shares of Palo Alto Networks from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Redburn Atlantic boosted their price objective 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. Finally, BMO Capital Markets boosted their price objective on shares of Palo Alto Networks from $327.00 to $334.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Twelve investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average price target of $326.29.
View Our Latest Research Report on Palo Alto Networks
About Palo Alto Networks
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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