Palo Alto Networks, Inc. (NASDAQ:PANW) CAO Josh D. Paul Sells 200 Shares of Stock

Palo Alto Networks, Inc. (NASDAQ:PANW) CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $338.00, for a total value of $67,600.00. Following the sale, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Palo Alto Networks Trading Down 0.1 %

NASDAQ PANW opened at $340.44 on Wednesday. Palo Alto Networks, Inc. has a 12 month low of $201.17 and a 12 month high of $380.84. The stock has a market cap of $110.23 billion, a P/E ratio of 49.48, a P/E/G ratio of 5.19 and a beta of 1.14. The stock’s fifty day moving average price is $308.24 and its 200-day moving average price is $307.39.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the prior year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, analysts forecast that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Susquehanna lifted their price target on Palo Alto Networks from $325.00 to $340.00 and gave the company a “positive” rating in a research report on Tuesday, May 21st. Redburn Atlantic lifted their price target on Palo Alto Networks from $275.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. JMP Securities restated a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a research report on Tuesday, May 21st. KeyCorp boosted their target price on Palo Alto Networks from $355.00 to $384.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Finally, DA Davidson started coverage on Palo Alto Networks in a research report on Friday, June 21st. They issued a “buy” rating and a $380.00 target price for the company. Twelve analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.29.

Institutional Investors Weigh In On Palo Alto Networks

Institutional investors have recently modified their holdings of the stock. Qube Research & Technologies Ltd bought a new position in shares of Palo Alto Networks during the third quarter valued at $3,394,000. AQR Capital Management LLC lifted its holdings in shares of Palo Alto Networks by 203.7% during the third quarter. AQR Capital Management LLC now owns 59,363 shares of the network technology company’s stock valued at $13,917,000 after purchasing an additional 39,817 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Palo Alto Networks by 22.8% during the third quarter. Glenmede Trust Co. NA now owns 5,338 shares of the network technology company’s stock valued at $1,251,000 after purchasing an additional 991 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of Palo Alto Networks by 40.1% during the third quarter. Axxcess Wealth Management LLC now owns 5,787 shares of the network technology company’s stock valued at $1,357,000 after purchasing an additional 1,655 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of Palo Alto Networks by 25.5% during the third quarter. Adage Capital Partners GP L.L.C. now owns 347,100 shares of the network technology company’s stock valued at $81,374,000 after purchasing an additional 70,600 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

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.