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

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

Wall Street Analyst Weigh In

Several brokerages have commented on PANW. Cantor Fitzgerald restated an “overweight” rating and set a $350.00 price objective on shares of Palo Alto Networks in a research report on Friday, June 21st. Susquehanna boosted their price target on Palo Alto Networks from $325.00 to $340.00 and gave the stock a “positive” rating in a report on Tuesday, May 21st. DA Davidson began coverage on Palo Alto Networks in a research note on Friday, June 21st. They issued a “buy” rating and a $380.00 price objective on the stock. Evercore ISI decreased their target price on Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 14th. Finally, Daiwa Capital Markets assumed coverage on shares of Palo Alto Networks in a report on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 target price for the company. Twelve analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.29.

Palo Alto Networks Stock Up 0.2 %

The stock has a 50 day simple moving average of $307.06 and a 200 day simple moving average of $307.11. The stock has a market cap of $110.57 billion, a price-to-earnings ratio of 49.32, a PEG ratio of 5.19 and a beta of 1.14.

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

Insider Buying and Selling

In other Palo Alto Networks news, Director John P. Key sold 2,163 shares of Palo Alto Networks stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $305.41, for a total transaction of $660,601.83. Following the transaction, the director now owns 12,639 shares of the company’s stock, valued at approximately $3,860,076.99. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Aparna Bawa sold 322 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total transaction of $99,820.00. Following the completion of the transaction, the director now owns 3,767 shares in the company, valued at $1,167,770. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John P. Key sold 2,163 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $305.41, for a total transaction of $660,601.83. Following the sale, the director now owns 12,639 shares of the company’s stock, valued at approximately $3,860,076.99. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 258,182 shares of company stock worth $74,850,597. 3.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Palo Alto Networks

Several large investors have recently modified their holdings of the stock. GSG Advisors LLC increased its position in Palo Alto Networks by 1.0% in the fourth quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock worth $1,478,000 after buying an additional 51 shares during the last quarter. Spirit of America Management Corp NY grew its stake in Palo Alto Networks by 50.0% during the fourth quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock valued at $88,000 after acquiring an additional 100 shares in the last quarter. Beacon Pointe Advisors LLC increased its holdings in shares of Palo Alto Networks by 31.4% in the fourth quarter. Beacon Pointe Advisors LLC now owns 112,040 shares of the network technology company’s stock worth $33,038,000 after purchasing an additional 26,767 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Palo Alto Networks by 9.9% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,726 shares of the network technology company’s stock valued at $7,291,000 after acquiring an additional 2,225 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its position in shares of Palo Alto Networks by 91.0% during the 1st quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after acquiring an additional 802 shares during the last quarter. Hedge funds and other 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.