Palo Alto Networks (NASDAQ:PANW) Trading 3.3% Higher

Palo Alto Networks, Inc. (NASDAQ:PANW) traded up 3.3% during mid-day trading on Tuesday . The company traded as high as $291.63 and last traded at $291.01. 1,102,115 shares were traded during mid-day trading, a decline of 80% from the average session volume of 5,491,081 shares. The stock had previously closed at $281.68.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Piper Sandler lowered shares of Palo Alto Networks from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $350.00 to $300.00 in a research report on Wednesday, February 21st. Sanford C. Bernstein assumed coverage on shares of Palo Alto Networks in a research report on Thursday, January 18th. They issued an “outperform” rating on the stock. Needham & Company LLC reissued a “buy” rating and issued a $345.00 price target on shares of Palo Alto Networks in a research report on Wednesday, February 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $350.00 price target on shares of Palo Alto Networks in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada lifted their price target on shares of Palo Alto Networks to $420.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and an average target price of $314.82.

Palo Alto Networks Stock Performance

The business has a 50-day simple moving average of $293.65 and a two-hundred day simple moving average of $291.51. The stock has a market cap of $94.93 billion, a price-to-earnings ratio of 45.47, a P/E/G ratio of 3.79 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. On average, analysts expect that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In related news, CAO Josh D. Paul sold 1,050 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at $7,629,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Lee Klarich sold 45,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the transaction, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at $67,955,958.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The disclosure for this sale can be found here. Insiders sold 167,917 shares of company stock valued at $49,395,553 in the last quarter. 3.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Palo Alto Networks

Hedge funds have recently added to or reduced their stakes in the business. Frank Rimerman Advisors LLC bought a new stake in Palo Alto Networks during the fourth quarter worth $27,000. First Pacific Financial raised its holdings in shares of Palo Alto Networks by 421.7% during the 3rd quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock valued at $28,000 after buying an additional 97 shares in the last quarter. Financial Synergies Wealth Advisors Inc. grew its position in Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after acquiring an additional 96 shares during the last quarter. Webster Bank N. A. grew its position in shares of Palo Alto Networks by 607.1% in the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after buying an additional 85 shares during the last quarter. Finally, Cedar Mountain Advisors LLC grew its position in shares of Palo Alto Networks by 87.0% in the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after buying an additional 47 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

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.