Palo Alto Networks (NASDAQ:PANW) PT Raised to $355.00

Palo Alto Networks (NASDAQ:PANW) had its price target increased by UBS Group from $345.00 to $355.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a neutral rating on the network technology company’s stock.

Other analysts also recently issued reports about the stock. Piper Sandler upped their price objective on shares of Palo Alto Networks from $300.00 to $330.00 and gave the stock a neutral rating in a report on Tuesday. Needham & Company LLC upped their price target on shares of Palo Alto Networks from $345.00 to $385.00 and gave the company a buy rating in a report on Tuesday. Barclays lifted their price objective on Palo Alto Networks from $325.00 to $350.00 and gave the stock an overweight rating in a research note on Friday, August 9th. Redburn Atlantic downgraded Palo Alto Networks from a buy rating to a neutral rating and decreased their target price for the company from $350.00 to $325.00 in a research note on Thursday, July 18th. Finally, DA Davidson started coverage on Palo Alto Networks in a report on Friday, June 21st. They issued a buy rating and a $380.00 target price on the stock. Thirteen analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $363.49.

Palo Alto Networks Trading Up 0.4 %

PANW stock opened at $350.75 on Tuesday. The firm has a market cap of $113.57 billion, a PE ratio of 50.98, a PEG ratio of 4.40 and a beta of 1.14. Palo Alto Networks has a 1 year low of $224.64 and a 1 year high of $380.84. The company has a fifty day simple moving average of $330.16 and a 200 day simple moving average of $311.49.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the firm posted $0.80 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, analysts forecast that Palo Alto Networks will post 2.94 EPS for the current fiscal year.

Insider Buying and Selling

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $338.00, for a total transaction of $67,600.00. Following the transaction, the chief accounting officer now directly owns 24,982 shares in the company, valued at approximately $8,443,916. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction on Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the completion of the sale, the director now directly owns 41,517 shares of the company’s stock, valued at $14,175,564.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 200 shares of the company’s 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 approximately $8,443,916. The disclosure for this sale can be found here. Insiders sold a total of 366,372 shares of company stock worth $118,440,693 over the last three months. 3.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palo Alto Networks

Institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in Palo Alto Networks during the 4th quarter worth approximately $1,563,020,000. Vanguard Group Inc. raised its holdings in Palo Alto Networks by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock worth $8,129,800,000 after purchasing an additional 1,058,127 shares during the period. Axiom Investors LLC DE boosted its position in shares of Palo Alto Networks by 359.3% during the fourth quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock worth $282,406,000 after purchasing an additional 749,199 shares in the last quarter. Swedbank AB acquired a new position in shares of Palo Alto Networks in the 1st quarter valued at $177,933,000. Finally, Altshuler Shaham Ltd increased its position in shares of Palo Alto Networks by 444,100.0% in the 2nd quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock valued at $150,520,000 after buying an additional 444,100 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

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.