Palo Alto Networks (NASDAQ:PANW) Trading Down 1.8% - Here's Why

Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report) fell 1.8% during trading on Thursday . The company traded as low as $376.52 and last traded at $378.21. 545,901 shares were traded during trading, a decline of 86% from the average session volume of 3,892,365 shares. The stock had previously closed at $385.18.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PANW shares. Stifel Nicolaus upped their target price on Palo Alto Networks from $360.00 to $385.00 and gave the stock a "buy" rating in a research report on Tuesday, August 20th. Citigroup lifted their target price on Palo Alto Networks from $385.00 to $395.00 and gave the stock a "buy" rating in a report on Tuesday, August 20th. TD Cowen upped their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a "buy" rating in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Palo Alto Networks from $330.00 to $395.00 and gave the stock a "buy" rating in a report on Tuesday, August 20th. Finally, Evercore ISI upped their price target on Palo Alto Networks from $385.00 to $395.00 and gave the company an "outperform" rating in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $378.49.

Palo Alto Networks Trading Up 0.5 %

The business's fifty day moving average price is $353.98 and its 200 day moving average price is $331.32. The company has a market capitalization of $126.07 billion, a P/E ratio of 53.38, a P/E/G ratio of 5.23 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm had revenue of $2.19 billion during the quarter, compared to analysts' expectations of $2.16 billion. During the same quarter last year, the company earned $0.80 earnings per share. The company's revenue for the quarter was up 12.1% compared to the same quarter last year. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

Insider Buying and Selling at Palo Alto Networks

In other news, CEO Nikesh Arora sold 66,666 shares of the company's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total value of $22,865,104.68. Following the sale, the chief executive officer now owns 639,994 shares of the company's stock, valued at approximately $219,505,142.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Nikesh Arora sold 66,666 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total value of $22,865,104.68. Following the transaction, the chief executive officer now directly owns 639,994 shares of the company's stock, valued at $219,505,142.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the firm's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the sale, the executive vice president now directly owns 1,115,567 shares of the company's stock, valued at $370,926,027.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 255,252 shares of company stock valued at $89,383,077. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PANW. Capital Advisors Ltd. LLC grew its stake in shares of 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 last quarter. Sound Income Strategies LLC boosted its position in Palo Alto Networks by 352.6% in the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company's stock valued at $29,000 after buying an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL increased its stake in shares of Palo Alto Networks by 177.4% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company's stock valued at $29,000 after buying an additional 55 shares during the period. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks during the first quarter worth $25,000. Finally, First PREMIER Bank lifted its stake in shares of Palo Alto Networks by 48.4% during the third quarter. First PREMIER Bank now owns 95 shares of the network technology company's stock valued at $32,000 after acquiring an additional 31 shares during the period. Institutional investors and hedge funds own 79.82% of the company's stock.

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.

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