Palo Alto Networks’ (PANW) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Palo Alto Networks (NASDAQ:PANW) in a research note released on Wednesday, Benzinga reports. The brokerage currently has a $350.00 price objective on the network technology company’s stock.

A number of other brokerages have also recently issued reports on PANW. Needham & Company LLC reiterated a buy rating and issued a $345.00 price objective on shares of Palo Alto Networks in a report on Wednesday, February 21st. BMO Capital Markets decreased their price objective on shares of Palo Alto Networks from $378.00 to $327.00 and set an outperform rating for the company in a report on Wednesday, February 21st. Truist Financial upped their price objective on shares of Palo Alto Networks from $330.00 to $385.00 and gave the stock a buy rating in a report on Tuesday, February 20th. Sanford C. Bernstein assumed coverage on shares of Palo Alto Networks in a report on Thursday, January 18th. They set an outperform rating for the company. Finally, KeyCorp decreased their price target on shares of Palo Alto Networks from $390.00 to $380.00 and set an overweight rating for the company in a report on Wednesday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $314.82.

Palo Alto Networks Trading Down 1.2 %

NASDAQ PANW opened at $277.71 on Wednesday. The company has a market capitalization of $89.73 billion, a PE ratio of 43.39, a price-to-earnings-growth ratio of 3.83 and a beta of 1.19. Palo Alto Networks has a 1-year low of $176.30 and a 1-year high of $380.84. The firm’s fifty day simple moving average is $295.46 and its 200-day simple moving average is $290.40.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. As a group, analysts predict that Palo Alto Networks will post 2.76 EPS for the current year.

Insider Buying and Selling

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 document filed with the SEC, which is accessible through this link. In other news, President William D. Jenkins, Jr. sold 1,867 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the sale, the president now owns 25,812 shares of the company’s stock, valued at $7,230,715.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 directly owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The disclosure for this sale can be found here. Insiders sold 167,917 shares of company stock valued at $49,395,553 over the last quarter. Corporate insiders own 3.30% of the company’s stock.

Institutional Trading of Palo Alto Networks

Hedge funds and other institutional investors have recently modified their holdings of the stock. GSG Advisors LLC increased its holdings in shares of 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 valued at $1,478,000 after purchasing an additional 51 shares in the last quarter. Spirit of America Management Corp NY boosted its stake in Palo Alto Networks by 50.0% in 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 during the last quarter. Truist Financial Corp boosted its stake in Palo Alto Networks by 148.9% in the third quarter. Truist Financial Corp now owns 189,801 shares of the network technology company’s stock valued at $44,497,000 after acquiring an additional 113,534 shares during the last quarter. Oliver Lagore Vanvalin Investment Group boosted its stake in Palo Alto Networks by 46.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 4,178 shares of the network technology company’s stock valued at $1,232,000 after acquiring an additional 1,325 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Palo Alto Networks by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 137,104 shares of the network technology company’s stock valued at $32,143,000 after acquiring an additional 735 shares during the last quarter. Institutional investors and hedge funds 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.