Palo Alto Networks (NASDAQ:PANW) Trading Up 0.5%

Shares of Palo Alto Networks, Inc. (NASDAQ:PANW) traded up 0.5% during trading on Wednesday . The company traded as high as $342.44 and last traded at $342.08. 314,262 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 4,769,063 shares. The stock had previously closed at $340.44.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. JMP Securities reiterated a “market outperform” rating and issued a $380.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 21st. Wedbush reiterated an “outperform” rating and issued a $375.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $350.00 price objective on shares of Palo Alto Networks in a report on Friday, June 21st. Sanford C. Bernstein increased their price objective on shares of Palo Alto Networks from $335.00 to $364.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Finally, BMO Capital Markets raised their price target 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. Twelve investment analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $326.29.

Palo Alto Networks Stock Performance

The firm has a market capitalization of $110.51 billion, a PE ratio of 49.57, a PEG ratio of 5.19 and a beta of 1.14. The company’s 50-day moving average price is $309.18 and its 200-day moving average price is $307.63.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. As a group, analysts anticipate that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Aparna Bawa sold 322 shares of Palo Alto Networks stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total transaction of $99,820.00. Following the sale, the director now directly owns 3,767 shares in the company, valued at approximately $1,167,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Friday, April 5th. The shares were sold at an average price of $268.04, for a total value of $16,082,400.00. Following the transaction, the executive vice president now directly owns 174,075 shares in the company, valued at $46,659,063. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Aparna Bawa sold 322 shares of Palo Alto Networks stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total transaction of $99,820.00. Following the completion of the transaction, the director now owns 3,767 shares in the company, valued at $1,167,770. The disclosure for this sale can be found here. Insiders have sold 259,857 shares of company stock worth $75,418,399 in the last ninety days. 3.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Pathway Financial Advisers LLC acquired a new position in Palo Alto Networks in the first quarter valued at $25,000. Frank Rimerman Advisors LLC acquired a new position in Palo Alto Networks in the fourth quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. increased its stake in 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 valued at $28,000 after purchasing an additional 96 shares during the period. Webster Bank N. A. increased its stake in Palo Alto Networks by 607.1% in the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 85 shares during the period. Finally, Cedar Mountain Advisors LLC increased its stake in Palo Alto Networks by 87.0% in the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 47 shares during the period. 79.82% of the stock is currently 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.