Truist Financial Boosts Palo Alto Networks (NASDAQ:PANW) Price Target to $425.00

Palo Alto Networks (NASDAQ:PANW) had its target price boosted by Truist Financial from $400.00 to $425.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the network technology company’s stock.

Other equities analysts have also issued reports about the stock. Susquehanna upped their price objective on shares of Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a report on Thursday, September 5th. TD Cowen upped their price target on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Wells Fargo & Company lifted their price objective on Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Piper Sandler increased their target price on Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $390.39.

Palo Alto Networks Stock Down 0.0 %

PANW stock opened at $386.83 on Monday. Palo Alto Networks has a 52-week low of $249.56 and a 52-week high of $408.53. The stock has a market cap of $125.95 billion, a price-to-earnings ratio of 53.36, a price-to-earnings-growth ratio of 5.61 and a beta of 1.12. The business has a fifty day moving average of $360.72 and a two-hundred day moving average of $337.38.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the firm earned $0.80 EPS. Palo Alto Networks’s revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Palo Alto Networks will post 3.56 EPS for the current year.

Insider Buying and Selling

In related news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the sale, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. This trade represents a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the completion of the transaction, the executive vice president now directly owns 159,009 shares in the company, valued at $54,854,924.82. This represents a 27.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,252 shares of company stock worth $89,041,637 in the last 90 days. Company insiders own 2.50% of the company’s stock.

Institutional Trading of Palo Alto Networks

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tradewinds LLC. lifted its position in Palo Alto Networks by 1.2% in the third quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock valued at $791,000 after purchasing an additional 28 shares during the period. Kathmere Capital Management LLC lifted its holdings in shares of Palo Alto Networks by 3.4% in the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock valued at $312,000 after buying an additional 30 shares during the period. FLC Capital Advisors boosted its stake in shares of Palo Alto Networks by 0.7% in the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after buying an additional 30 shares in the last quarter. Cromwell Holdings LLC grew its holdings in Palo Alto Networks by 3.0% during the third quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after acquiring an additional 30 shares during the period. Finally, Rosenberg Matthew Hamilton raised its position in Palo Alto Networks by 9.4% in the third quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock worth $119,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

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.