Palo Alto Networks (NASDAQ:PANW) Trading Up 0.7% - Still a Buy?

Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report)'s share price traded up 0.7% during trading on Friday . The stock traded as high as $177.77 and last traded at $177.34. Approximately 661,397 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 5,805,968 shares. The stock had previously closed at $176.04.

Analyst Ratings Changes

Several research firms recently issued reports on PANW. BTIG Research cut Palo Alto Networks from a "buy" rating to a "neutral" rating in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $190.00 target price (down previously from $207.00) on shares of Palo Alto Networks in a research report on Wednesday, January 8th. Scotiabank lifted their price target on shares of Palo Alto Networks from $200.00 to $225.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, January 21st. HSBC upgraded shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective on the stock in a research report on Thursday, April 10th. Finally, Guggenheim cut Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 price target on the stock. in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Palo Alto Networks currently has an average rating of "Moderate Buy" and a consensus target price of $203.06.

Palo Alto Networks Trading Up 1.7 %

The company's 50 day moving average is $176.86 and its 200 day moving average is $184.72. The company has a market cap of $118.50 billion, a PE ratio of 100.83, a P/E/G ratio of 5.64 and a beta of 1.07.

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

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the transaction, the executive vice president now owns 321,774 shares of the company's stock, valued at approximately $48,629,704.62. The trade was a 27.29 % 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, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the transaction, the chief accounting officer now owns 47,976 shares in the company, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,039,318 shares of company stock valued at $181,925,602. Company insiders own 2.50% of the company's stock.

Hedge Funds Weigh In On Palo Alto Networks

Several institutional investors and hedge funds have recently bought and sold shares of the company. Transce3nd LLC purchased a new stake in Palo Alto Networks in the fourth quarter valued at $25,000. SJS Investment Consulting Inc. lifted its position 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 valued at $25,000 after buying an additional 69 shares during the last quarter. Strategic Investment Solutions Inc. IL increased its position in shares of Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Valued Wealth Advisors LLC raised its stake in shares of Palo Alto Networks by 246.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock valued at $26,000 after acquiring an additional 101 shares during the period. Finally, Abound Wealth Management lifted its holdings in shares of Palo Alto Networks by 97.3% in the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock worth $27,000 after acquiring an additional 72 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

About Palo Alto Networks

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.