Palo Alto Networks (NASDAQ:PANW) Stock Price Up 2.3% - Time to Buy?

Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report)'s share price rose 2.3% on Wednesday . The stock traded as high as $158.40 and last traded at $156.04. Approximately 1,425,209 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 5,894,497 shares. The stock had previously closed at $152.53.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PANW. Westpark Capital reaffirmed a "hold" rating and set a $196.40 target price on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Scotiabank raised their target price on shares of Palo Alto Networks from $200.00 to $225.00 and gave the stock a "sector outperform" rating in a report on Tuesday, January 21st. Evercore ISI dropped their price target on Palo Alto Networks from $455.00 to $230.00 and set an "outperform" rating on the stock in a report on Tuesday, December 31st. Jefferies Financial Group cut their target price on Palo Alto Networks from $240.00 to $215.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Hsbc Global Res upgraded Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $204.52.

Palo Alto Networks Stock Up 0.0 %

The stock's 50-day moving average price is $182.29 and its 200 day moving average price is $184.79. The company has a market cap of $111.46 billion, a P/E ratio of 94.84, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Josh D. Paul sold 700 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were 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 in the company, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 99,707 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the completion of the sale, the executive vice president now owns 358,197 shares of the company's stock, valued at approximately $65,353,042.65. The trade was a 21.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 939,318 shares of company stock valued at $165,384,602. Insiders own 2.50% of the company's stock.

Institutional Trading of Palo Alto Networks

A number of hedge funds have recently modified their holdings of PANW. Perkins Coie Trust Co increased its holdings in Palo Alto Networks by 4.2% in the 1st quarter. Perkins Coie Trust Co now owns 8,503 shares of the network technology company's stock valued at $1,451,000 after buying an additional 345 shares during the period. Persium Advisors LLC raised its position in Palo Alto Networks by 9.8% in the first quarter. Persium Advisors LLC now owns 2,993 shares of the network technology company's stock worth $511,000 after purchasing an additional 268 shares in the last quarter. AAFMAA Wealth Management & Trust LLC lifted its stake in Palo Alto Networks by 15.2% during the first quarter. AAFMAA Wealth Management & Trust LLC now owns 8,754 shares of the network technology company's stock worth $1,494,000 after purchasing an additional 1,154 shares during the period. Congress Asset Management Co. boosted its holdings in Palo Alto Networks by 1.5% during the first quarter. Congress Asset Management Co. now owns 568,046 shares of the network technology company's stock valued at $96,931,000 after purchasing an additional 8,501 shares in the last quarter. Finally, Impact Capital Partners LLC grew its stake in shares of Palo Alto Networks by 25.4% in the 1st quarter. Impact Capital Partners LLC now owns 1,441 shares of the network technology company's stock valued at $246,000 after purchasing an additional 292 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.