Palo Alto Networks (NASDAQ:PANW) PT Raised to $421.00

Palo Alto Networks (NASDAQ:PANW - Free Report) had its price objective raised by Morgan Stanley from $390.00 to $421.00 in a research note published on Friday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the network technology company's stock.

Several other analysts have also recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Palo Alto Networks from $340.00 to $365.00 and gave the stock an overweight rating in a report on Thursday, August 15th. Truist Financial upped their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a buy rating in a research note on Tuesday, August 20th. Evercore ISI lifted their price objective on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock an outperform rating in a research note on Tuesday, August 20th. BMO Capital Markets boosted their price objective on Palo Alto Networks from $334.00 to $390.00 and gave the stock an outperform rating in a research note on Tuesday, August 20th. Finally, Sanford C. Bernstein raised their price objective on Palo Alto Networks from $364.00 to $399.00 and gave the company an outperform rating in a research note on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $372.28.

Palo Alto Networks Trading Up 1.0 %

Shares of NASDAQ:PANW traded up $3.80 during midday trading on Friday, reaching $373.20. 2,297,007 shares of the company were exchanged, compared to its average volume of 4,081,229. The stock has a market cap of $121.51 billion, a PE ratio of 51.85, a price-to-earnings-growth ratio of 5.26 and a beta of 1.13. The business's fifty day moving average is $340.85 and its two-hundred day moving average is $318.89. Palo Alto Networks has a one year low of $233.81 and a one year high of $380.84.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 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 business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The business's revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts expect that Palo Alto Networks will post 3.56 EPS for the current year.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Monday, August 5th. The shares were sold at an average price of $295.93, for a total value of $17,755,800.00. Following the transaction, the executive vice president now directly owns 159,009 shares of the company's stock, valued at approximately $47,055,533.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of the firm's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the transaction, the director now owns 31,517 shares of the company's stock, valued at approximately $10,983,359.33. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the business's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the sale, the executive vice president now directly owns 159,009 shares in the company, valued at $47,055,533.37. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 269,866 shares of company stock worth $88,620,447. 3.30% of the stock is owned by corporate insiders.

Institutional Trading of Palo Alto Networks

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sound Income Strategies LLC grew its holdings in Palo Alto Networks by 352.6% during the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company's stock worth $29,000 after acquiring an additional 67 shares during the period. Pathway Financial Advisers LLC purchased a new position in shares of Palo Alto Networks during the 1st quarter valued at approximately $25,000. First PREMIER Bank lifted its stake in shares of Palo Alto Networks by 48.4% in the 3rd quarter. First PREMIER Bank now owns 95 shares of the network technology company's stock valued at $32,000 after purchasing an additional 31 shares during the period. Financial Synergies Wealth Advisors Inc. boosted its holdings in Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company's stock worth $28,000 after buying an additional 96 shares in the last quarter. Finally, Central Bank & Trust Co. grew its position in Palo Alto Networks by 89.3% during the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company's stock valued at $30,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds 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.