Palo Alto Networks (NASDAQ:PANW) Trading 0.4% Higher

Shares of Palo Alto Networks, Inc. (NASDAQ:PANW) were up 0.4% during trading on Tuesday . The stock traded as high as $336.90 and last traded at $335.12. Approximately 329,614 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 4,537,820 shares. The stock had previously closed at $333.70.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Argus raised their price target on shares of Palo Alto Networks from $336.00 to $348.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 21st. Citigroup increased their price objective on Palo Alto Networks from $335.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Sanford C. Bernstein upped their price target on Palo Alto Networks from $335.00 to $364.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Finally, BMO Capital Markets lifted their price objective on shares of Palo Alto Networks from $327.00 to $334.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $325.59.

Palo Alto Networks Stock Up 1.0 %

The stock has a market cap of $109.11 billion, a PE ratio of 49.08, a PEG ratio of 5.07 and a beta of 1.14. The stock’s fifty day moving average price is $320.41 and its 200 day moving average price is $311.48.

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 analysts’ consensus estimates 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 analyst estimates of $1.97 billion. During the same quarter in the previous year, the firm earned $0.38 EPS. Palo Alto Networks’s revenue was up 15.3% on a year-over-year basis. On average, equities research analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Lee Klarich sold 125,866 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $335.00, for a total transaction of $42,165,110.00. Following the completion of the sale, the executive vice president now owns 166,542 shares in the company, valued at $55,791,570. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction dated 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 owns 24,982 shares of the company’s stock, valued at $8,443,916. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lee Klarich sold 125,866 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $335.00, for a total value of $42,165,110.00. Following the transaction, the executive vice president now owns 166,542 shares of the company’s stock, valued at $55,791,570. The disclosure for this sale can be found here. Insiders have sold 428,391 shares of company stock valued at $136,147,317 in the last ninety days. 3.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palo Alto Networks

A number of hedge funds have recently bought and sold shares of the business. Spirit of America Management Corp NY lifted its holdings in shares of Palo Alto Networks by 50.0% in the 4th 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. Beacon Pointe Advisors LLC grew its holdings in Palo Alto Networks by 31.4% during the 4th quarter. Beacon Pointe Advisors LLC now owns 112,040 shares of the network technology company’s stock valued at $33,038,000 after purchasing an additional 26,767 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Palo Alto Networks by 9.9% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,726 shares of the network technology company’s stock worth $7,291,000 after purchasing an additional 2,225 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in 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 period. Finally, Oliver Lagore Vanvalin Investment Group grew its holdings in shares of 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 worth $1,232,000 after purchasing an additional 1,325 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.