Loop Capital Cuts Palo Alto Networks (NASDAQ:PANW) Price Target to $180.00

Palo Alto Networks (NASDAQ:PANW) had its price objective trimmed by Loop Capital from $385.00 to $180.00 in a research note published on Tuesday,Benzinga reports. The firm currently has a hold rating on the network technology company’s stock.

A number of other research analysts have also issued reports on the stock. Needham & Company LLC raised their price objective on shares of Palo Alto Networks from $192.50 to $225.00 and gave the company a “buy” rating in a report on Thursday, November 21st. OTR Global reaffirmed a “negative” rating on shares of Palo Alto Networks in a research note on Thursday, November 7th. Robert W. Baird boosted their price objective on shares of Palo Alto Networks from $212.50 to $217.50 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Truist Financial increased their price objective on Palo Alto Networks from $200.00 to $212.50 and gave the company a “buy” rating in a report on Monday, November 18th. Finally, Rosenblatt Securities raised Palo Alto Networks from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $195.00 to $215.00 in a report on Thursday, November 21st. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average target price of $200.04.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock opened at $177.17 on Tuesday. The company’s 50 day moving average price is $190.32 and its two-hundred day moving average price is $178.52. The firm has a market capitalization of $116.26 billion, a P/E ratio of 46.14, a P/E/G ratio of 4.94 and a beta of 1.14. Palo Alto Networks has a fifty-two week low of $130.04 and a fifty-two week high of $207.24.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Wednesday, November 20th. The network technology company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. Palo Alto Networks had a return on equity of 23.36% and a net margin of 32.99%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter last year, the business posted $0.32 EPS. Palo Alto Networks’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, analysts expect that Palo Alto Networks will post 1.75 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In other news, EVP Nir Zuk sold 336,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $193.70, for a total transaction of $65,081,520.00. Following the completion of the transaction, the executive vice president now directly owns 3,643,516 shares of the company’s stock, valued at $705,730,831.62. This represents a 8.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Klarich sold 120,000 shares of Palo Alto Networks 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 sale, the executive vice president now directly owns 365,856 shares in the company, valued at $65,744,323.20. This trade represents a 24.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 867,734 shares of company stock worth $161,546,523 in the last 90 days. Insiders own 2.50% of the company’s stock.

Institutional Trading of Palo Alto Networks

A number of large investors have recently bought and sold shares of PANW. Capital Advisors Ltd. LLC grew its stake in shares of Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after acquiring an additional 41 shares during the period. Abound Wealth Management lifted its holdings in Palo Alto Networks by 97.3% during the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 72 shares during the last quarter. Sound Income Strategies LLC boosted its position in Palo Alto Networks by 352.6% during the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 67 shares during the period. Strategic Investment Solutions Inc. IL increased its stake in shares of Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 55 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Palo Alto Networks in the third quarter valued at approximately $29,000. 79.82% of the stock is owned by hedge funds and other 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.