Palo Alto Networks (NASDAQ:PANW) Given New $414.00 Price Target at BTIG Research

Palo Alto Networks (NASDAQ:PANW) had its price target upped by BTIG Research from $395.00 to $414.00 in a research report released on Thursday morning, MarketBeat.com reports. BTIG Research currently has a buy rating on the network technology company’s stock.

Several other analysts have also recently issued reports on PANW. Rosenblatt Securities raised shares of Palo Alto Networks from a “neutral” rating to a “buy” rating and upped their price target for the company from $390.00 to $430.00 in a report on Thursday. Wells Fargo & Company upped their target price on shares of Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group lifted their price target on Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. KeyCorp upped their price objective on Palo Alto Networks from $400.00 to $435.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Morgan Stanley lifted their target price on Palo Alto Networks from $390.00 to $421.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $402.03.

Palo Alto Networks Trading Down 3.6 %

PANW opened at $383.36 on Thursday. Palo Alto Networks has a twelve month low of $260.09 and a twelve month high of $408.53. The firm has a market cap of $124.82 billion, a price-to-earnings ratio of 49.92, a PEG ratio of 5.76 and a beta of 1.12. The company has a fifty day simple moving average of $364.32 and a 200 day simple moving average of $339.89.

Shares of Palo Alto Networks are set to split on the morning of Monday, December 16th. The 2-1 split was announced on Wednesday, November 20th. The newly minted shares will be distributed to shareholders after the closing bell on Friday, December 13th.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Wednesday, November 20th. The network technology company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.08. 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 the consensus estimate of $2.12 billion. During the same quarter in the prior year, the business posted $0.63 earnings per share. Palo Alto Networks’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, analysts forecast that Palo Alto Networks will post 3.57 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the sale, the director now owns 31,517 shares of the company’s stock, valued at $10,983,359.33. The trade was a 24.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Nikesh Arora sold 66,666 shares of the 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 completion of the transaction, the chief executive officer now directly owns 639,994 shares of the company’s stock, valued at approximately $219,505,142.12. The trade was a 9.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,252 shares of company stock valued at $89,041,637. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Palo Alto Networks

Several institutional investors have recently bought and sold shares of the business. Tradewinds LLC. lifted its stake in shares of Palo Alto Networks by 1.2% in the 3rd quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock valued at $791,000 after purchasing an additional 28 shares during the period. Kathmere Capital Management LLC lifted its stake in Palo Alto Networks by 3.4% in the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock valued at $312,000 after buying an additional 30 shares during the period. FLC Capital Advisors boosted its holdings in Palo Alto Networks by 0.7% during the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock worth $1,379,000 after buying an additional 30 shares during the last quarter. Cromwell Holdings LLC grew its position in shares of Palo Alto Networks by 3.0% during the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after buying an additional 30 shares during the period. Finally, Rosenberg Matthew Hamilton increased its stake in shares of Palo Alto Networks by 9.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock valued at $119,000 after acquiring an additional 30 shares during the last quarter. 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.