Palo Alto Networks (NASDAQ:PANW) Stock Price Down 1.1% - Time to Sell?

Key Points

• Palo Alto Networks' stock price decreased by 1.1% during mid-day trading, reaching prices as low as $170.91 and last trading at $171.04.
• Analysts maintain a Moderate Buy consensus rating with a price target averaging $209.61, despite varied individual ratings including twenty-six buy ratings and two sell ratings.
• In its latest earnings report, Palo Alto Networks reported an EPS of $0.80, exceeding expectations, and a revenue of $2.29 billion, showing a 15.3% year-over-year increase.

Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report)'s share price was down 1.1% during mid-day trading on Monday . The stock traded as low as $170.91 and last traded at $171.04. Approximately 2,967,576 shares changed hands during trading, a decline of 50% from the average daily volume of 5,878,119 shares. The stock had previously closed at $172.88.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Sanford C. Bernstein set a $225.00 target price on shares of Palo Alto Networks and gave the stock an "outperform" rating in a research report on Wednesday, May 21st. Hsbc Global Res upgraded shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 10th. Cantor Fitzgerald restated an "overweight" rating and set a $223.00 target price on shares of Palo Alto Networks in a research report on Monday, May 19th. Finally, Barclays cut their target price on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat, Palo Alto Networks presently has a consensus rating of "Moderate Buy" and a consensus price target of $209.61.

Palo Alto Networks Trading Down 1.2%

The business has a 50-day moving average price of $196.04 and a 200 day moving average price of $187.36. The stock has a market cap of $113.90 billion, a PE ratio of 97.48, a PEG ratio of 4.11 and a beta of 0.94.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. The firm had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The business's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 EPS. On average, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Activity at Palo Alto Networks

In related news, CAO Josh D. Paul sold 800 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $201.05, for a total transaction of $160,840.00. Following the transaction, the chief accounting officer directly owned 42,033 shares of the company's stock, valued at approximately $8,450,734.65. This trade represents a 1.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total value of $19,866,000.00. Following the transaction, the executive vice president owned 3,243,516 shares in the company, valued at approximately $644,356,888.56. The trade was a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 448,474 shares of company stock worth $88,420,934 in the last quarter. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palo Alto Networks

A number of large investors have recently made changes to their positions in PANW. BLB&B Advisors LLC raised its holdings in Palo Alto Networks by 1.0% in the second quarter. BLB&B Advisors LLC now owns 86,228 shares of the network technology company's stock worth $17,646,000 after purchasing an additional 873 shares in the last quarter. Aljian Capital Management LLC raised its stake in Palo Alto Networks by 10.5% during the second quarter. Aljian Capital Management LLC now owns 20,809 shares of the network technology company's stock valued at $4,258,000 after buying an additional 1,973 shares during the last quarter. Simon Quick Advisors LLC raised its stake in shares of Palo Alto Networks by 12.2% in the second quarter. Simon Quick Advisors LLC now owns 8,393 shares of the network technology company's stock worth $1,718,000 after purchasing an additional 910 shares during the last quarter. Strs Ohio raised its stake in shares of Palo Alto Networks by 10.5% in the second quarter. Strs Ohio now owns 594,185 shares of the network technology company's stock worth $121,594,000 after purchasing an additional 56,517 shares during the last quarter. Finally, Amalgamated Bank raised its stake in shares of Palo Alto Networks by 3.4% in the second quarter. Amalgamated Bank now owns 146,174 shares of the network technology company's stock worth $29,913,000 after purchasing an additional 4,744 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

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.

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