Palo Alto Networks (NASDAQ:PANW) Trading Down 0.3%

Palo Alto Networks, Inc. (NASDAQ:PANW)’s share price dropped 0.3% during trading on Monday . The stock traded as low as $345.57 and last traded at $345.94. Approximately 265,155 shares changed hands during trading, a decline of 94% from the average daily volume of 4,249,577 shares. The stock had previously closed at $346.90.

Wall Street Analysts Forecast Growth

PANW has been the subject of several analyst reports. Daiwa America upgraded Palo Alto Networks to a “strong-buy” rating in a research note on Wednesday, May 29th. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Susquehanna increased their price objective on Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a research report on Thursday, September 5th. Evercore ISI increased their price objective on Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Finally, Macquarie increased their price objective on Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $366.08.

Palo Alto Networks Trading Down 2.4 %

The business has a 50 day simple moving average of $336.41 and a 200-day simple moving average of $312.63. The stock has a market capitalization of $107.37 billion, a price-to-earnings ratio of 48.45, a price-to-earnings-growth ratio of 5.03 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the company earned $0.80 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. Research analysts predict that Palo Alto Networks, Inc. will post 3.55 EPS for the current year.

Insiders Place Their Bets

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the sale, the chief accounting officer now directly owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares in the company, valued at approximately $54,854,924.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the sale, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 464,075 shares of company stock valued at $154,029,567. Insiders own 3.30% of the company’s stock.

Institutional Trading of Palo Alto Networks

Institutional investors have recently modified their holdings of the company. Pathway Financial Advisers LLC purchased a new stake in shares of Palo Alto Networks during the 1st quarter worth about $25,000. Frank Rimerman Advisors LLC acquired a new position in Palo Alto Networks during the 4th quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. lifted its position in Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after acquiring an additional 96 shares in the last quarter. Ulland Investment Advisors LLC acquired a new position in Palo Alto Networks during the 1st quarter worth approximately $30,000. Finally, ICA Group Wealth Management LLC acquired a new position in Palo Alto Networks during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

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.