Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $414.00 at BTIG Research

Palo Alto Networks (NASDAQ:PANW) had its price objective increased by BTIG Research from $395.00 to $414.00 in a research note published on Thursday, Marketbeat.com reports. BTIG Research currently has a buy rating on the network technology company’s stock.

PANW has been the subject of a number of other reports. Wells Fargo & Company raised their price objective on Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. DA Davidson raised their target price on shares of Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Stifel Nicolaus lifted their target price on shares of Palo Alto Networks from $385.00 to $440.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Robert W. Baird increased their price target on shares of Palo Alto Networks from $385.00 to $425.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Finally, KeyCorp boosted their price objective on Palo Alto Networks from $400.00 to $435.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $402.03.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $383.36 on Thursday. The business’s 50-day simple moving average is $364.32 and its 200-day simple moving average is $339.63. Palo Alto Networks has a fifty-two week low of $260.09 and a fifty-two week high of $408.53. The stock has a market capitalization of $124.82 billion, a PE ratio of 49.92, a price-to-earnings-growth ratio of 5.76 and a beta of 1.12.

Palo Alto Networks’s stock is going 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 issued 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 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.08. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Palo Alto Networks had a net margin of 32.99% and a return on equity of 23.36%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the business earned $0.63 EPS. On average, research analysts expect that Palo Alto Networks will post 3.57 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In related news, CEO Nikesh Arora sold 66,666 shares of Palo Alto Networks stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the completion of the transaction, the chief executive officer now owns 639,994 shares of the company’s stock, valued at $219,505,142.12. This trade represents a 9.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the transaction, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. This trade represents a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,252 shares of company stock worth $89,041,637 over the last ninety days. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PANW. Tradewinds LLC. boosted its position in shares of Palo Alto Networks by 1.2% during the 3rd quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock worth $791,000 after purchasing an additional 28 shares in the last quarter. Kathmere Capital Management LLC raised its stake in Palo Alto Networks by 3.4% during the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after buying an additional 30 shares during the period. FLC Capital Advisors grew its stake in Palo Alto Networks by 0.7% in the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after acquiring an additional 30 shares during the period. Cromwell Holdings LLC increased its holdings in shares of Palo Alto Networks by 3.0% during the third quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock valued at $357,000 after acquiring an additional 30 shares in the last quarter. Finally, Rosenberg Matthew Hamilton raised its position in shares of Palo Alto Networks by 9.4% during the third quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock worth $119,000 after purchasing an additional 30 shares during the period. 79.82% of the stock is owned by institutional investors.

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.