Palo Alto Networks (NASDAQ:PANW) Downgraded by Hsbc Global Res to "Moderate Sell"

Hsbc Global Res cut shares of Palo Alto Networks (NASDAQ:PANW - Free Report) from a hold rating to a moderate sell rating in a report released on Friday morning,Zacks.com reports.

Several other research firms also recently weighed in on PANW. Jefferies Financial Group upped their price target on shares of Palo Alto Networks from $400.00 to $450.00 and gave the stock a "buy" rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price target on Palo Alto Networks from $395.00 to $415.00 and gave the stock a "buy" rating in a research note on Thursday. Oppenheimer reiterated an "outperform" rating and set a $450.00 price target on shares of Palo Alto Networks in a research report on Thursday. Bank of America lifted their target price on shares of Palo Alto Networks from $400.00 to $430.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Needham & Company LLC increased their price objective on shares of Palo Alto Networks from $385.00 to $450.00 and gave the company a "buy" rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $402.03.

Palo Alto Networks Stock Performance

NASDAQ PANW traded down $14.34 during mid-day trading on Friday, reaching $383.36. 6,322,410 shares of the stock were exchanged, compared to its average volume of 2,450,676. The company has a market capitalization of $124.82 billion, a P/E ratio of 49.92, a P/E/G ratio of 5.76 and a beta of 1.12. The business's 50 day moving average is $364.32 and its 200-day moving average is $339.63. Palo Alto Networks has a 1 year low of $260.09 and a 1 year high of $408.53.

Shares of Palo Alto Networks are set to split on the morning of Monday, December 16th. The 2-1 split was announced on Wednesday, November 20th. The newly issued shares will be distributed to shareholders after the market closes on Friday, December 13th.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings results on Wednesday, November 20th. The network technology company reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.48 by $0.08. Palo Alto Networks had a return on equity of 23.36% and a net margin of 32.99%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter in the prior year, the business posted $0.63 earnings per share. Palo Alto Networks's revenue for the quarter was up 13.9% on a year-over-year basis. Equities analysts predict that Palo Alto Networks will post 3.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the sale, the chief executive officer now directly owns 618,715 shares of the company's stock, valued at approximately $227,680,932.85. This represents a 11.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the transaction, the executive vice president now directly owns 1,115,567 shares in the company, valued at $370,926,027.50. The trade was a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 254,252 shares of company stock worth $89,041,637. Corporate insiders own 2.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Mainstream Capital Management LLC purchased a new stake in shares of Palo Alto Networks during the third quarter worth approximately $1,156,000. Alpha Cubed Investments LLC raised its position in Palo Alto Networks by 16.4% during the 3rd quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company's stock worth $79,149,000 after buying an additional 32,626 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Palo Alto Networks by 3.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 196,700 shares of the network technology company's stock worth $67,232,000 after acquiring an additional 7,291 shares during the period. Harvest Portfolios Group Inc. purchased a new stake in shares of Palo Alto Networks in the third quarter valued at about $24,414,000. Finally, Parsons Capital Management Inc. RI increased its stake in shares of Palo Alto Networks by 4.5% during the second quarter. Parsons Capital Management Inc. RI now owns 2,695 shares of the network technology company's stock worth $914,000 after acquiring an additional 116 shares during the period. 79.82% of the stock is owned by hedge funds and other 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.