Palo Alto Networks (NASDAQ:PANW) Trading Down 3% – Time to Sell?

Palo Alto Networks, Inc. (NASDAQ:PANW)’s share price dropped 3% on Monday . The stock traded as low as $185.71 and last traded at $185.88. Approximately 6,216,499 shares were traded during mid-day trading, an increase of 1% from the average daily volume of 6,177,983 shares. The stock had previously closed at $191.69.

Analyst Upgrades and Downgrades

PANW has been the subject of several recent analyst reports. Bank of America raised their target price on Palo Alto Networks from $215.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Robert W. Baird increased their price target on Palo Alto Networks from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. TD Cowen boosted their price objective on shares of Palo Alto Networks from $230.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Rosenblatt Securities upped their target price on shares of Palo Alto Networks from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $230.00 price target on shares of Palo Alto Networks in a research report on Thursday, November 20th. Thirty investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.09.

Palo Alto Networks Trading Down 3.0%

The company has a market capitalization of $129.56 billion, a PE ratio of 117.65, a PEG ratio of 4.54 and a beta of 0.79. The business has a fifty day moving average of $204.67 and a 200 day moving average of $197.58.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the firm earned $1.56 earnings per share. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. Equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Activity at Palo Alto Networks

In related news, Director James J. Goetz sold 12,500 shares of Palo Alto Networks stock in a transaction on Monday, December 8th. The stock was sold at an average price of $195.33, for a total value of $2,441,625.00. Following the completion of the transaction, the director directly owned 75,184 shares in the company, valued at approximately $14,685,690.72. This trade represents a 14.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Dipak Golechha sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $204.19, for a total value of $1,020,950.00. Following the transaction, the executive vice president directly owned 96,135 shares of the company’s stock, valued at $19,629,805.65. The trade was a 4.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,228,330 shares of company stock worth $251,702,305 over the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Palo Alto Networks

A number of institutional investors and hedge funds have recently made changes to their positions in PANW. Darwin Wealth Management LLC purchased a new position in Palo Alto Networks in the second quarter worth approximately $25,000. Whipplewood Advisors LLC raised its holdings in shares of Palo Alto Networks by 6,400.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 128 shares in the last quarter. Briaud Financial Planning Inc purchased a new stake in shares of Palo Alto Networks during the 2nd quarter worth $28,000. Howard Hughes Medical Institute purchased a new stake in shares of Palo Alto Networks during the 2nd quarter worth $29,000. Finally, Winch Advisory Services LLC grew its stake in shares of Palo Alto Networks by 96.1% during the third quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company’s stock worth $30,000 after purchasing an additional 73 shares in the last quarter. 79.82% of the stock is 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.