Palo Alto Networks (NASDAQ:PANW) Shares Up 3.8% - Here's Why

Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report)'s share price was up 3.8% during trading on Tuesday . The stock traded as high as $197.15 and last traded at $196.55. Approximately 1,411,644 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 5,824,731 shares. The stock had previously closed at $189.30.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PANW. Bank of America boosted their price target on Palo Alto Networks from $200.00 to $215.00 and gave the stock a "neutral" rating in a report on Thursday, November 21st. TD Cowen upped their target price on shares of Palo Alto Networks from $200.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Jefferies Financial Group lifted their price target on shares of Palo Alto Networks from $225.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, December 19th. OTR Global reissued a "negative" rating on shares of Palo Alto Networks in a report on Thursday, November 7th. Finally, Citigroup reduced their target price on Palo Alto Networks from $216.00 to $205.00 and set a "buy" rating on the stock in a report on Friday, January 17th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $200.85.

Palo Alto Networks Price Performance

The stock's 50-day moving average is $187.74 and its 200 day moving average is $179.65. The company has a market cap of $121.44 billion, a PE ratio of 48.24, a PEG ratio of 5.30 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings data on Wednesday, November 20th. The network technology company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.04. Palo Alto Networks had a return on equity of 23.36% and a net margin of 32.99%. The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. During the same quarter last year, the firm earned $0.32 EPS. The business's quarterly revenue was up 13.9% on a year-over-year basis. On average, analysts expect that Palo Alto Networks, Inc. will post 1.74 EPS for the current year.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 120,000 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $179.70, for a total value of $21,564,000.00. Following the completion of the transaction, the executive vice president now owns 365,856 shares in the company, valued at $65,744,323.20. This trade represents a 24.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nir Zuk sold 336,000 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $193.70, for a total value of $65,081,520.00. Following the sale, the executive vice president now owns 3,643,516 shares in the company, valued at approximately $705,730,831.62. The trade was a 8.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 867,734 shares of company stock worth $161,546,523 in the last three months. Corporate insiders own 2.50% of the company's stock.

Institutional Trading of Palo Alto Networks

Several institutional investors and hedge funds have recently bought and sold shares of PANW. Capital Advisors Ltd. LLC lifted its position in Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company's stock valued at $26,000 after purchasing an additional 41 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Palo Alto Networks in the 3rd quarter valued at about $29,000. Sound Income Strategies LLC boosted its stake in shares of Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company's stock worth $29,000 after buying an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL boosted its stake in shares of Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company's stock worth $29,000 after buying an additional 55 shares during the last quarter. Finally, True Wealth Design LLC grew its holdings in Palo Alto Networks by 2,933.3% during the third quarter. True Wealth Design LLC now owns 91 shares of the network technology company's stock worth $31,000 after acquiring an additional 88 shares during the period. 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.