Truist Financial Lowers Palo Alto Networks (NASDAQ:PANW) Price Target to $205.00

Palo Alto Networks (NASDAQ:PANW - Get Free Report) had its target price decreased by stock analysts at Truist Financial from $213.00 to $205.00 in a report released on Monday,Benzinga reports. The firm presently has a "buy" rating on the network technology company's stock. Truist Financial's price objective suggests a potential upside of 19.67% from the company's previous close.

A number of other equities research analysts also recently weighed in on PANW. KeyCorp lifted their price target on shares of Palo Alto Networks from $217.00 to $240.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Susquehanna upped their target price on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a research note on Tuesday, February 18th. JMP Securities increased their price target on shares of Palo Alto Networks from $208.00 to $212.00 and gave the stock a "market outperform" rating in a research report on Friday, February 14th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $223.00 price target on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Finally, Evercore ISI cut their price target on Palo Alto Networks from $455.00 to $230.00 and set an "outperform" rating for the company in a report on Tuesday, December 31st. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $204.27.

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Palo Alto Networks Trading Up 0.4 %

PANW traded up $0.67 during midday trading on Monday, reaching $171.31. The company's stock had a trading volume of 4,034,298 shares, compared to its average volume of 5,899,185. Palo Alto Networks has a twelve month low of $132.50 and a twelve month high of $208.39. The stock has a market cap of $113.42 billion, a P/E ratio of 96.51, a PEG ratio of 5.64 and a beta of 1.04. The company has a fifty day simple moving average of $187.26 and a 200 day simple moving average of $185.48.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Sell-side analysts expect that Palo Alto Networks will post 1.76 earnings per share for the current year.

Insider Buying and Selling at Palo Alto Networks

In related news, CEO Nikesh Arora sold 176,242 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $180.04, for a total value of $31,730,609.68. Following the sale, the chief executive officer now directly owns 1,086,404 shares in the company, valued at $195,596,176.16. This represents a 13.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the transaction, the chief accounting officer now owns 47,976 shares of the company's stock, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,122,864 shares of company stock worth $204,315,811. Insiders own 2.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. SJS Investment Consulting Inc. increased its holdings in Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock worth $25,000 after purchasing an additional 69 shares in the last quarter. Transce3nd LLC acquired a new position in shares of Palo Alto Networks during the 4th quarter valued at $25,000. Valued Wealth Advisors LLC boosted its stake in Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock worth $26,000 after acquiring an additional 101 shares in the last quarter. Strategic Investment Solutions Inc. IL grew its holdings in Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after purchasing an additional 55 shares during the period. Finally, Abound Wealth Management increased its stake in Palo Alto Networks by 97.3% in the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock valued at $27,000 after purchasing an additional 72 shares in the last quarter. 79.82% of the stock is 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.