2 weeks Ago By ABMN Staff
Palo Alto Networks, Inc. ( NASDAQ:PANW – Get Free Report ) was down 0.3% during mid-day trading on Friday .
The company traded as low as $335.93 and last traded at $337.68.
Approximately 419,735 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 4,163,247 shares. The stock had previously closed at $338.73.
Wall Street Analyst Weigh In Several research analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Palo Alto Networks from $385.00 to $416.
00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Royal Bank of Canada raised their target price on Palo Alto Networks from $390.00 to $410.
00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Morgan Stanley upped their price target on Palo Alto Networks from $360.00 to $390.
00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Robert W. Baird raised their price objective on Palo Alto Networks from $360.
00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Finally, BTIG Research upped their target price on Palo Alto Networks from $366.
00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock.
Based on data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $366.08. View Our Latest Analysis on PANW Palo Alto Networks Stock Performance Palo Alto Networks ( NASDAQ:PANW – Get Free Report ) last released its quarterly earnings data on Monday, August 19th.
The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.
10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.
11%. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.
16 billion. During the same period in the prior year, the company posted $0.80 earnings per share.
The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities analysts expect that Palo Alto Networks, Inc.
will post 3.56 earnings per share for the current year. Insider Transactions at Palo Alto Networks In related news, EVP Lee Klarich sold 125,866 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 166,542 shares in the company, valued at approximately $55,791,570. The transaction was disclosed in a filing 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 shares were sold at an average price of $338.00, for a total value of $67,600.
00. Following the completion of the transaction, the chief accounting officer now directly owns 24,982 shares of the company’s stock, valued at $8,443,916. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink .
Also, EVP Lee Klarich sold 125,866 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $335.00, for a total transaction of $42,165,110.
00. Following the sale, the executive vice president now directly owns 166,542 shares in the company, valued at $55,791,570. The disclosure for this sale can be found here .
Over the last 90 days, insiders sold 464,075 shares of company stock valued at $154,029,567. Corporate insiders own 3.30% of the company’s stock.
Institutional Inflows and Outflows Large investors have recently bought and sold shares of the company. Sunbelt Securities Inc. boosted its holdings in Palo Alto Networks by 91.
0% in the first 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 last quarter.
Jennison Associates LLC grew its holdings in Palo Alto Networks by 7.6% during the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after acquiring an additional 198,078 shares during the period.
Brookstone Capital Management lifted its stake in shares of Palo Alto Networks by 48.4% in the 1st quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company’s stock valued at $7,502,000 after purchasing an additional 8,611 shares during the period.
Wealthspire Advisors LLC lifted its stake in shares of Palo Alto Networks by 1.7% in the 1st quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock valued at $1,244,000 after purchasing an additional 75 shares during the period.
Finally, Connectus Wealth LLC boosted its position in shares of Palo Alto Networks by 22.8% in the 4th quarter. Connectus Wealth LLC now owns 43,813 shares of the network technology company’s stock worth $12,920,000 after purchasing an additional 8,132 shares during the last quarter.
Institutional investors and hedge funds own 79.82% of the company’s stock. About Palo Alto Networks ( Get Free Report ) 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. Further Reading Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.
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