Palo Alto Networks (NASDAQ:PANW) Shares Down 0.5%

Palo Alto Networks, Inc. (NASDAQ:PANW)’s stock price traded down 0.5% during mid-day trading on Tuesday . The company traded as low as $336.07 and last traded at $339.35. 495,425 shares were traded during mid-day trading, a decline of 90% from the average session volume of 4,791,524 shares. The stock had previously closed at $340.90.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PANW shares. Wedbush restated an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Evercore ISI lowered their target price on shares of Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating on the stock in a report on Tuesday, May 14th. Daiwa Capital Markets started coverage on shares of Palo Alto Networks in a research note on Wednesday, May 29th. They set an “outperform” rating and a $350.00 price target on the stock. Morgan Stanley restated an “overweight” rating and issued a $360.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, June 12th. Finally, Oppenheimer reiterated an “outperform” rating and set a $330.00 target price on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Twelve investment analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and an average price target of $326.29.

Palo Alto Networks Stock Performance

The stock has a market cap of $110.57 billion, a PE ratio of 49.32, a PEG ratio of 5.19 and a beta of 1.14. The stock has a fifty day simple moving average of $307.06 and a two-hundred day simple moving average of $307.11.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, 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 firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the sale, the executive vice president now owns 174,075 shares of the company’s stock, valued at $46,659,063. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 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 completion of the sale, the executive vice president now directly owns 174,075 shares in the company, valued at approximately $46,659,063. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,621 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total transaction of $497,517.32. Following the completion of the transaction, the president now owns 20,501 shares in the company, valued at $6,292,166.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 258,182 shares of company stock valued at $74,850,597. 3.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Palo Alto Networks

Institutional investors have recently modified their holdings of the company. Horizon Family Wealth Inc. grew its position in Palo Alto Networks by 1.1% in the 4th quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock valued at $726,000 after buying an additional 28 shares in the last quarter. MV Capital Management Inc. increased its stake in Palo Alto Networks by 37.2% in the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after purchasing an additional 29 shares in the last quarter. Manchester Capital Management LLC raised its holdings in shares of Palo Alto Networks by 17.2% during the fourth quarter. Manchester Capital Management LLC now owns 204 shares of the network technology company’s stock valued at $60,000 after acquiring an additional 30 shares during the period. Quent Capital LLC raised its stake in Palo Alto Networks by 15.9% during the 4th quarter. Quent Capital LLC now owns 233 shares of the network technology company’s stock valued at $69,000 after purchasing an additional 32 shares during the period. Finally, Parisi Gray Wealth Management lifted its stake in Palo Alto Networks by 2.2% in the 4th quarter. Parisi Gray Wealth Management now owns 1,519 shares of the network technology company’s stock worth $448,000 after acquiring an additional 33 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

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.