Palo Alto Networks (NASDAQ:PANW) Price Target Lowered to $355.00 at KeyCorp

Palo Alto Networks (NASDAQ:PANW - Free Report) had its price objective lowered by KeyCorp from $380.00 to $355.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the network technology company's stock.

Several other equities analysts have also recently issued reports on PANW. Northland Securities cut shares of Palo Alto Networks from an outperform rating to a market perform rating and set a $275.00 price target for the company. in a research report on Wednesday, February 21st. Truist Financial increased their price objective on shares of Palo Alto Networks from $330.00 to $385.00 and gave the stock a buy rating in a research report on Tuesday, February 20th. Capital One Financial cut shares of Palo Alto Networks from an overweight rating to an equal weight rating and set a $302.00 price objective for the company. in a research report on Wednesday, February 21st. BMO Capital Markets decreased their price objective on shares of Palo Alto Networks from $378.00 to $327.00 and set an outperform rating for the company in a research report on Wednesday, February 21st. Finally, Sanford C. Bernstein started coverage on shares of Palo Alto Networks in a research report on Thursday, January 18th. They set an outperform rating for the company. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks has an average rating of Moderate Buy and an average target price of $314.82.

Palo Alto Networks Trading Up 1.4 %

NASDAQ:PANW traded up $3.81 on Thursday, hitting $281.14. The company had a trading volume of 3,853,848 shares, compared to its average volume of 5,596,438. The stock has a market capitalization of $90.84 billion, a price-to-earnings ratio of 43.93, a PEG ratio of 3.75 and a beta of 1.19. The firm has a 50 day moving average of $297.44 and a two-hundred day moving average of $290.12. Palo Alto Networks has a 52 week low of $176.30 and a 52 week high of $380.84.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. As a group, equities analysts forecast that Palo Alto Networks will post 2.76 EPS for the current year.

Insiders Place Their Bets

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, 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 legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 174,075 shares in the company, valued at $46,659,063. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks 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 completion of the transaction, the chief accounting officer now owns 27,247 shares of the company's stock, valued at approximately $7,629,160. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 167,917 shares of company stock valued at $49,395,553. Company insiders own 3.30% of the company's stock.

Hedge Funds Weigh In On Palo Alto Networks

Several large investors have recently modified their holdings of the business. Woodmont Investment Counsel LLC increased its stake in shares of Palo Alto Networks by 2.3% in the first quarter. Woodmont Investment Counsel LLC now owns 14,267 shares of the network technology company's stock worth $4,054,000 after purchasing an additional 321 shares in the last quarter. Farmers & Merchants Investments Inc. increased its stake in shares of Palo Alto Networks by 11,603.9% in the first quarter. Farmers & Merchants Investments Inc. now owns 23,993 shares of the network technology company's stock worth $6,817,000 after purchasing an additional 23,788 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in Palo Alto Networks by 232.8% during the first quarter. Hexagon Capital Partners LLC now owns 426 shares of the network technology company's stock valued at $121,000 after acquiring an additional 298 shares in the last quarter. Claro Advisors LLC grew its stake in Palo Alto Networks by 84.0% during the first quarter. Claro Advisors LLC now owns 3,324 shares of the network technology company's stock valued at $944,000 after acquiring an additional 1,517 shares in the last quarter. Finally, Miracle Mile Advisors LLC grew its stake in Palo Alto Networks by 10.4% during the first quarter. Miracle Mile Advisors LLC now owns 5,138 shares of the network technology company's stock valued at $1,460,000 after acquiring an additional 482 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company's stock.

About Palo Alto Networks

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.