Palo Alto Networks (NASDAQ:PANW) Stock Price Down 0.5%

Palo Alto Networks, Inc. (NASDAQ:PANW) was down 0.5% during trading on Monday . The stock traded as low as $322.00 and last traded at $325.13. Approximately 366,666 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 4,476,750 shares. The stock had previously closed at $326.81.

Analyst Ratings Changes

Several equities research analysts recently commented on PANW shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $350.00 price objective on shares of Palo Alto Networks in a report on Friday, June 21st. Redburn Atlantic downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating and cut their price target for the company from $350.00 to $325.00 in a research note on Thursday, July 18th. Needham & Company LLC restated a “buy” rating and set a $345.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Oppenheimer restated an “outperform” rating and set a $330.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Finally, Daiwa Capital Markets initiated coverage on Palo Alto Networks in a research note on Wednesday, May 29th. They set an “outperform” rating and a $350.00 price target for the company. Thirteen analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus price target of $325.59.

Palo Alto Networks Stock Performance

The firm has a market capitalization of $104.52 billion, a PE ratio of 47.26, a PEG ratio of 5.00 and a beta of 1.14. The company has a fifty day simple moving average of $321.57 and a two-hundred day simple moving average of $312.31.

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

Insider Buying and Selling

In related news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the completion of the sale, the chief accounting officer now directly owns 24,982 shares in the company, valued at approximately $8,443,916. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 125,866 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $335.00, for a total value of $42,165,110.00. Following the completion of the sale, the executive vice president now directly owns 166,542 shares in the company, valued at $55,791,570. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Josh D. Paul sold 200 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $338.00, for a total value of $67,600.00. Following the completion of the sale, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at $8,443,916. The disclosure for this sale can be found here. Insiders sold 428,391 shares of company stock worth $136,147,317 in the last three months. 3.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Palo Alto Networks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PANW. Pathway Financial Advisers LLC acquired a new position in shares of Palo Alto Networks in the first quarter valued at about $25,000. Frank Rimerman Advisors LLC acquired a new stake in Palo Alto Networks during the fourth quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. grew its holdings in Palo Alto Networks by 3,200.0% during the first 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 during the period. Webster Bank N. A. grew its holdings in Palo Alto Networks by 607.1% during the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after acquiring an additional 85 shares during the period. Finally, Ulland Investment Advisors LLC acquired a new stake in Palo Alto Networks during the first quarter worth about $30,000. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

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.