Palo Alto Networks, Inc. (NASDAQ:PANW – Get Free Report)’s share price fell 1.1% on Thursday . The stock traded as low as $185.04 and last traded at $185.61. 847,047 shares were traded during mid-day trading, a decline of 86% from the average session volume of 6,001,775 shares. The stock had previously closed at $187.70.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on PANW shares. BTIG Research lowered Palo Alto Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 8th. Stifel Nicolaus lifted their price target on Palo Alto Networks from $192.50 to $220.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Oppenheimer restated an “outperform” rating and issued a $225.00 price objective on shares of Palo Alto Networks in a research report on Thursday, November 21st. Truist Financial lifted their target price on shares of Palo Alto Networks from $200.00 to $212.50 and gave the company a “buy” rating in a research report on Monday, November 18th. Finally, Hsbc Global Res lowered shares of Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a report on Friday, November 22nd. Three research analysts have rated the stock with a sell rating, twelve have given 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $200.85.
View Our Latest Stock Analysis on PANW
Palo Alto Networks Stock Up 0.2 %
Palo Alto Networks (NASDAQ:PANW – Get Free Report) last announced its earnings results on Wednesday, November 20th. The network technology company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. Palo Alto Networks had a net margin of 32.99% and a return on equity of 23.36%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter in the previous year, the business posted $0.32 EPS. The company’s quarterly revenue was up 13.9% on a year-over-year basis. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 1.74 EPS for the current fiscal year.
Insider Buying and Selling
In related news, EVP Nir Zuk sold 336,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $193.70, for a total transaction of $65,081,520.00. Following the sale, the executive vice president now directly owns 3,643,516 shares of the company’s stock, valued at approximately $705,730,831.62. This represents a 8.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 120,000 shares of Palo Alto Networks stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the completion of the transaction, the executive vice president now directly owns 365,856 shares of the company’s stock, valued at $65,744,323.20. This trade represents a 24.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 867,734 shares of company stock worth $161,546,523 in the last 90 days. Insiders own 2.50% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the business. SJS Investment Consulting Inc. boosted its holdings in shares of Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after buying an additional 69 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after acquiring an additional 41 shares in the last quarter. Valued Wealth Advisors LLC lifted its position in Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 101 shares during the last quarter. Abound Wealth Management increased its holdings in shares of Palo Alto Networks by 97.3% in the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock worth $27,000 after buying an additional 72 shares during the last quarter. Finally, Sound Income Strategies LLC grew its position in Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 67 shares in the last quarter. 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.
See Also
- Five stocks we like better than Palo Alto Networks
- How to trade using analyst ratings
- Bloom Energy: Powering the Future With Decentralized Energy
- The Role Economic Reports Play in a Successful Investment Strategy
- Dividend Powerhouses: Blue-Chip Stocks Built for the Long Haul
- NYSE Stocks Give Investors a Variety of Quality OptionsĀ
- Why Traders Are Buying the Dip on Johnson & Johnson Stock
Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.