Palo Alto Networks (NASDAQ:PANW) Stock Price Down 0.1%

Palo Alto Networks, Inc. (NASDAQ:PANW)’s share price dropped 0.1% during mid-day trading on Tuesday . The company traded as low as $270.36 and last traded at $271.75. Approximately 1,006,738 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 5,616,423 shares. The stock had previously closed at $272.15.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PANW shares. Barclays dropped their price objective on shares of Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 21st. KeyCorp lowered their price objective on Palo Alto Networks from $390.00 to $380.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. Loop Capital downgraded Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a report on Wednesday, February 21st. Piper Sandler cut Palo Alto Networks from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $350.00 to $300.00 in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada increased their price target on shares of Palo Alto Networks to $420.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Eleven analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.82.

Palo Alto Networks Trading Up 1.6 %

The company has a market capitalization of $89.32 billion, a price-to-earnings ratio of 42.46, a PEG ratio of 3.80 and a beta of 1.19. The company’s 50 day simple moving average is $302.23 and its 200-day simple moving average is $289.99.

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

Insider Activity

In related news, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the transaction, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at $7,629,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the transaction, the executive vice president now directly owns 174,075 shares in the company, valued at approximately $46,659,063. The disclosure for this sale can be found here. Insiders sold a total of 167,917 shares of company stock valued at $49,395,553 over the last quarter. Company insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Palo Alto Networks

Several hedge funds and other institutional investors have recently modified their holdings of the company. Worth Asset Management LLC purchased a new position in shares of Palo Alto Networks in the 1st quarter valued at $26,000. Frank Rimerman Advisors LLC purchased a new position in Palo Alto Networks in the fourth quarter valued at about $27,000. First Pacific Financial lifted its stake in shares of Palo Alto Networks by 421.7% during the third quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. Financial Synergies Wealth Advisors Inc. boosted its position in shares of Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after buying an additional 96 shares during the period. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in shares of Palo Alto Networks during the 2nd quarter valued at about $28,000. 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.