Palo Alto Networks (NASDAQ:PANW) Trading Down 0.1%

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Raymond James downgraded Palo Alto Networks from an "outperform" rating to a "market perform" rating in a research report on Monday, December 18th. Piper Sandler downgraded Palo Alto Networks from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $350.00 to $300.00 in a report on Wednesday, February 21st. Wedbush upped their price target on Palo Alto Networks from $350.00 to $425.00 and gave the company an "outperform" rating in a report on Friday, February 16th. KeyCorp lowered their price target on Palo Alto Networks from $390.00 to $380.00 and set an "overweight" rating for the company in a report on Wednesday, February 21st. Finally, Mizuho lowered their price target on Palo Alto Networks from $405.00 to $350.00 and set a "buy" rating for the company in a report on Wednesday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $314.82.

Palo Alto Networks Stock Up 1.1 %

The company has a market cap of $88.86 billion, a price-to-earnings ratio of 42.97, a price-to-earnings-growth ratio of 3.80 and a beta of 1.19. The company has a fifty day simple moving average of $302.23 and a two-hundred day simple moving average of $289.99.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.22. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. On average, research analysts predict that Palo Alto Networks, Inc. will post 2.76 EPS for the current year.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the sale, the executive vice president now owns 198,105 shares of the company's stock, valued at $56,327,194.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the sale, the executive vice president now owns 198,105 shares of the company's stock, valued at $56,327,194.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Josh D. Paul sold 1,050 shares of the firm's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the sale, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The disclosure for this sale can be found here. Insiders have sold a total of 167,917 shares of company stock valued at $49,395,553 over the last quarter. Insiders own 3.30% of the company's stock.

Institutional Trading of Palo Alto Networks

A number of hedge funds have recently added to or reduced their stakes in PANW. Covestor Ltd raised its holdings in shares of Palo Alto Networks by 61.8% in the 1st quarter. Covestor Ltd now owns 55 shares of the network technology company's stock worth $35,000 after purchasing an additional 21 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Palo Alto Networks by 0.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,961 shares of the network technology company's stock worth $1,843,000 after purchasing an additional 23 shares during the period. Brighton Jones LLC raised its holdings in shares of Palo Alto Networks by 6.5% in the 1st quarter. Brighton Jones LLC now owns 425 shares of the network technology company's stock worth $265,000 after purchasing an additional 26 shares during the period. Penserra Capital Management LLC raised its holdings in shares of Palo Alto Networks by 6.4% in the 1st quarter. Penserra Capital Management LLC now owns 452 shares of the network technology company's stock worth $281,000 after purchasing an additional 27 shares during the period. Finally, Horizon Family Wealth Inc. raised its holdings in shares of Palo Alto Networks by 1.1% in the 4th quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company's stock worth $726,000 after purchasing an additional 28 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

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.