Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $425.00

Palo Alto Networks (NASDAQ:PANW) had its price target increased by Barclays from $410.00 to $425.00 in a report issued on Monday,Benzinga reports. The firm currently has an overweight rating on the network technology company’s stock.

Other equities research analysts also recently issued reports about the company. KeyCorp raised their target price on Palo Alto Networks from $400.00 to $435.00 and gave the company an “overweight” rating in a report on Friday, October 18th. BTIG Research boosted their target price on shares of Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. TD Cowen raised their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, Truist Financial boosted their price target on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus price target of $378.87.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW opened at $402.36 on Monday. The stock has a 50-day simple moving average of $356.70 and a 200-day simple moving average of $334.54. The stock has a market capitalization of $131.01 billion, a P/E ratio of 55.79, a PEG ratio of 5.77 and a beta of 1.12. Palo Alto Networks has a 1 year low of $234.15 and a 1 year high of $408.53.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the business earned $0.80 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. Analysts predict that Palo Alto Networks will post 3.56 earnings per share for the current year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the sale, the chief executive officer now owns 618,715 shares in the company, valued at $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the transaction, the executive vice president now owns 159,009 shares in the company, valued at $54,854,924.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 255,252 shares of company stock worth $89,383,077 in the last quarter. 2.50% of the stock is owned by company insiders.

Institutional Trading of Palo Alto Networks

Several institutional investors have recently made changes to their positions in PANW. International Assets Investment Management LLC boosted its stake in shares of Palo Alto Networks by 34,318.2% during the 3rd quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after buying an additional 3,249,594 shares during the period. Jennison Associates LLC boosted its position in Palo Alto Networks by 50.1% during the third quarter. Jennison Associates LLC now owns 3,147,215 shares of the network technology company’s stock valued at $1,075,718,000 after purchasing an additional 1,050,173 shares during the last quarter. Vanguard Group Inc. grew its stake in Palo Alto Networks by 3.6% in the first quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after purchasing an additional 1,002,239 shares in the last quarter. Swedbank AB acquired a new position in Palo Alto Networks in the 1st quarter worth about $177,933,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Palo Alto Networks during the 3rd quarter worth about $174,124,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

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.