Palo Alto Networks (NASDAQ:PANW) Stock Price Down 0.7% - Here's Why

Shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report) fell 0.7% during mid-day trading on Friday . The company traded as low as $372.64 and last traded at $373.57. 366,242 shares traded hands during trading, a decline of 91% from the average session volume of 4,030,816 shares. The stock had previously closed at $376.15.

Analyst Ratings Changes

PANW has been the subject of a number of research reports. BMO Capital Markets increased their price target on shares of Palo Alto Networks from $334.00 to $390.00 and gave the company an "outperform" rating in a report on Tuesday, August 20th. Needham & Company LLC lifted their target price on Palo Alto Networks from $345.00 to $385.00 and gave the stock a "buy" rating in a research report on Tuesday, August 20th. Robert W. Baird upped their price target on Palo Alto Networks from $360.00 to $375.00 and gave the company an "outperform" rating in a report on Friday, August 16th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $350.00 price objective on shares of Palo Alto Networks in a research report on Monday, August 19th. Finally, UBS Group boosted their price objective on Palo Alto Networks from $345.00 to $355.00 and gave the company a "neutral" rating in a research report on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $374.15.

Palo Alto Networks Trading Down 0.4 %

The stock has a market cap of $122.04 billion, a price-to-earnings ratio of 51.70, a P/E/G ratio of 5.42 and a beta of 1.13. The firm has a fifty day simple moving average of $347.80 and a 200-day simple moving average of $322.01.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.80 earnings per share. On average, equities analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the company's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the sale, the chief accounting officer now owns 24,782 shares in the company, valued at approximately $8,014,746.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Nikesh Arora sold 81,586 shares of the business's stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the transaction, the chief executive officer now owns 618,715 shares in the company, valued at approximately $227,680,932.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Josh D. Paul sold 200 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the sale, the chief accounting officer now owns 24,782 shares in the company, valued at approximately $8,014,746.62. 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 have sold 351,452 shares of company stock valued at $118,643,279. 3.30% of the stock is currently owned by insiders.

Institutional Trading of Palo Alto Networks

A number of large investors have recently made changes to their positions in PANW. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks during the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. increased its holdings in Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company's stock worth $28,000 after purchasing an additional 96 shares in the last quarter. Sound Income Strategies LLC raised its stake in shares of Palo Alto Networks by 352.6% in the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company's stock valued at $29,000 after purchasing an additional 67 shares during the period. Central Bank & Trust Co. lifted its holdings in shares of Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company's stock valued at $30,000 after purchasing an additional 50 shares in the last quarter. Finally, Cape Investment Advisory Inc. boosted its position in shares of Palo Alto Networks by 1,111.1% during the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company's stock worth $31,000 after buying an additional 100 shares during the period. 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.