Palo Alto Networks (NASDAQ:PANW) Trading Down 3.6% - What's Next?

Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report) was down 3.6% during trading on Thursday . The stock traded as low as $194.83 and last traded at $197.73. Approximately 1,985,372 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 6,283,225 shares. The stock had previously closed at $205.19.

Analysts Set New Price Targets

Several research analysts have commented on PANW shares. Citigroup dropped their price target on Palo Alto Networks from $216.00 to $205.00 and set a "buy" rating on the stock in a research report on Friday, January 17th. Hsbc Global Res lowered Palo Alto Networks from a "hold" rating to a "moderate sell" rating in a research note on Friday, November 22nd. Wells Fargo & Company boosted their price objective on Palo Alto Networks from $208.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. OTR Global restated a "negative" rating on shares of Palo Alto Networks in a research report on Thursday, November 7th. Finally, Guggenheim downgraded Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 target price for the company. in a research report on Monday, January 6th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $202.70.

Palo Alto Networks Price Performance

The company has a market capitalization of $126.48 billion, a price-to-earnings ratio of 107.62, a PEG ratio of 5.82 and a beta of 1.14. The firm has a 50-day moving average price of $187.20 and a two-hundred day moving average price of $182.95.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The company had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.24 billion. On average, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 120,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the completion of the transaction, the executive vice president now directly owns 365,856 shares of the company's stock, valued at approximately $65,744,323.20. This represents a 24.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 336,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 3,643,516 shares of the company's stock, valued at approximately $705,730,831.62. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,458,864 shares of company stock valued at $269,397,331. Insiders own 2.50% of the company's stock.

Institutional Trading of Palo Alto Networks

Hedge funds have recently made changes to their positions in the business. SJS Investment Consulting Inc. lifted its position in shares of 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. Transce3nd LLC acquired a new stake in shares of Palo Alto Networks in the fourth quarter valued at approximately $25,000. Capital Advisors Ltd. LLC lifted its position in shares of Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company's stock valued at $26,000 after buying an additional 41 shares during the last quarter. Valued Wealth Advisors LLC lifted its position in shares of Palo Alto Networks by 246.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock valued at $26,000 after buying an additional 101 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL lifted its position in shares of 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 valued at $26,000 after buying an additional 55 shares during the last quarter. 79.82% of the stock is 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.