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

Palo Alto Networks, Inc. (NASDAQ:PANW) was up 0% during mid-day trading on Monday . The company traded as high as $319.40 and last traded at $317.42. Approximately 703,312 shares traded hands during trading, a decline of 86% from the average daily volume of 4,904,281 shares. The stock had previously closed at $317.31.

Analyst Upgrades and Downgrades

Several analysts have commented on PANW shares. Susquehanna upped their price objective on Palo Alto Networks from $325.00 to $340.00 and gave the company a “positive” rating in a research note on Tuesday, May 21st. Mizuho lowered their price objective on shares of Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. JMP Securities restated a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Piper Sandler lowered shares of Palo Alto Networks from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $350.00 to $300.00 in a research note on Wednesday, February 21st. Finally, Evercore ISI reduced their price objective on shares of Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating for the company in a research report on Tuesday, May 14th. Twelve investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $322.78.

Palo Alto Networks Trading Up 0.8 %

The company has a market cap of $103.53 billion, a price-to-earnings ratio of 46.14, a P/E/G ratio of 4.86 and a beta of 1.11. The stock’s 50 day moving average price is $297.97 and its 200 day moving average price is $305.28.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. Palo Alto Networks’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 earnings per share. On average, equities analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

Insider Activity

In other news, President William D. Jenkins, Jr. sold 1,621 shares of the 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 sale, the president now owns 20,501 shares of the company’s stock, valued at $6,292,166.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Aparna Bawa sold 322 shares of Palo Alto Networks stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total transaction of $99,820.00. Following the sale, the director now directly owns 3,767 shares of the company’s stock, valued at $1,167,770. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,621 shares of the stock in a transaction dated 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 directly 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. Insiders have sold 258,182 shares of company stock valued at $74,850,597 in the last three months. Corporate insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Jackson Wealth Management LLC boosted its holdings in shares of Palo Alto Networks by 6.3% in the 1st quarter. Jackson Wealth Management LLC now owns 6,351 shares of the network technology company’s stock valued at $1,805,000 after buying an additional 379 shares during the period. Cypress Asset Management Inc. TX lifted its holdings in Palo Alto Networks by 13.0% in the first quarter. Cypress Asset Management Inc. TX now owns 11,413 shares of the network technology company’s stock worth $3,259,000 after acquiring an additional 1,317 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Palo Alto Networks by 2.3% in the first quarter. EverSource Wealth Advisors LLC now owns 10,418 shares of the network technology company’s stock valued at $3,030,000 after acquiring an additional 230 shares during the period. Hamilton Wealth LLC grew its holdings in shares of Palo Alto Networks by 48.7% during the first quarter. Hamilton Wealth LLC now owns 19,655 shares of the network technology company’s stock valued at $5,585,000 after purchasing an additional 6,435 shares during the last quarter. Finally, Railway Pension Investments Ltd raised its position in shares of Palo Alto Networks by 1.1% during the 1st quarter. Railway Pension Investments Ltd now owns 499,853 shares of the network technology company’s stock worth $142,023,000 after purchasing an additional 5,400 shares during the period. 79.82% of the stock is currently owned by institutional investors.

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.