Palo Alto Networks (NASDAQ:PANW) Stock Price Up 2.7% - What's Next?

Shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report) shot up 2.7% on Thursday . The company traded as high as $202.98 and last traded at $202.20. 1,179,863 shares changed hands during trading, a decline of 78% from the average session volume of 5,471,036 shares. The stock had previously closed at $196.97.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PANW shares. JPMorgan Chase & Co. dropped their target price on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. Truist Financial lowered their target price on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Sanford C. Bernstein set a $225.00 price target on shares of Palo Alto Networks and gave the company an "outperform" rating in a report on Wednesday, May 21st. Jefferies Financial Group increased their price objective on shares of Palo Alto Networks from $215.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Finally, Morgan Stanley decreased their target price on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $208.00.

Palo Alto Networks Stock Up 2.3%

The firm has a market cap of $134.39 billion, a P/E ratio of 115.17, a price-to-earnings-growth ratio of 5.52 and a beta of 0.97. The stock's 50-day moving average is $192.85 and its 200-day moving average is $185.45.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the firm posted $0.66 EPS. The business's revenue was up 15.3% compared to the same quarter last year. As a group, analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Transactions at Palo Alto Networks

In related news, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $201.85, for a total value of $1,009,250.00. Following the completion of the transaction, the executive vice president owned 101,135 shares of the company's stock, valued at $20,414,099.75. This represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $193.36, for a total value of $19,336,000.00. Following the transaction, the executive vice president owned 3,343,516 shares of the company's stock, valued at $646,502,253.76. This trade represents a 2.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 568,122 shares of company stock worth $101,726,398 over the last quarter. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palo Alto Networks

Institutional investors and hedge funds have recently made changes to their positions in the company. Transce3nd LLC acquired a new position in shares of Palo Alto Networks during the 4th quarter worth about $25,000. Strategic Investment Solutions Inc. IL raised its stake in Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after buying an additional 55 shares during the period. Anchor Investment Management LLC grew its stake in Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock valued at $28,000 after acquiring an additional 78 shares during the period. Kiely Wealth Advisory Group Inc. increased its holdings in shares of Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after acquiring an additional 75 shares in the last quarter. Finally, Capital A Wealth Management LLC acquired a new stake in Palo Alto Networks during the 4th quarter worth approximately $29,000. 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.

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