Palo Alto Networks (NASDAQ:PANW) Receives “Hold” Rating from Westpark Capital

Westpark Capital reissued their hold rating on shares of Palo Alto Networks (NASDAQ:PANW) in a research report report published on Wednesday morning, Benzinga reports.

Other equities research analysts have also recently issued research reports about the company. Wedbush reissued an outperform rating and issued a $375.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Argus upped their target price on Palo Alto Networks from $336.00 to $348.00 and gave the company a buy rating in a research report on Wednesday, May 29th. BMO Capital Markets upped their target price on Palo Alto Networks from $327.00 to $334.00 and gave the company an outperform rating in a research report on Tuesday, May 21st. Morgan Stanley restated an overweight rating and set a $360.00 target price on shares of Palo Alto Networks in a research report on Wednesday, June 12th. Finally, DA Davidson started coverage on Palo Alto Networks in a research report on Friday, June 21st. They set a buy rating and a $380.00 target price on the stock. Thirteen analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $330.66.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded up $4.20 during trading on Wednesday, reaching $344.11. 532,381 shares of the company’s stock were exchanged, compared to its average volume of 4,347,311. Palo Alto Networks has a 1-year low of $201.17 and a 1-year high of $380.84. The firm’s 50-day moving average price is $324.72 and its 200 day moving average price is $310.94. The company has a market cap of $111.42 billion, a P/E ratio of 49.41, a PEG ratio of 4.36 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share (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 business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, equities research analysts predict that Palo Alto Networks will post 2.94 EPS for the current year.

Insider Buying and Selling

In related news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $339.16, for a total transaction of $12,209,760.00. Following the completion of the transaction, the executive vice president now directly owns 1,223,567 shares in the company, valued at $414,984,983.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $339.16, for a total value of $12,209,760.00. Following the completion of the transaction, the executive vice president now directly owns 1,223,567 shares in the company, valued at approximately $414,984,983.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at $47,055,533.37. The disclosure for this sale can be found here. Insiders sold a total of 367,315 shares of company stock worth $118,696,590 over the last ninety days. 3.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palo Alto Networks

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Horizon Family Wealth Inc. lifted its stake in shares of Palo Alto Networks by 1.1% in the 4th quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock valued at $726,000 after acquiring an additional 28 shares during the last quarter. Manchester Capital Management LLC lifted its stake in shares of Palo Alto Networks by 17.2% in the 4th quarter. Manchester Capital Management LLC now owns 204 shares of the network technology company’s stock valued at $60,000 after acquiring an additional 30 shares during the last quarter. Cascade Investment Group Inc. lifted its stake in shares of Palo Alto Networks by 2.9% in the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock valued at $376,000 after acquiring an additional 31 shares during the last quarter. Argonautica Private Wealth Management Inc. lifted its stake in shares of Palo Alto Networks by 2.3% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,527 shares of the network technology company’s stock valued at $450,000 after acquiring an additional 34 shares during the last quarter. Finally, Sepio Capital LP raised its position in Palo Alto Networks by 3.7% during the 4th quarter. Sepio Capital LP now owns 944 shares of the network technology company’s stock valued at $278,000 after purchasing an additional 34 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.