Palo Alto Networks (NASDAQ:PANW) Trading Down 1.4% – Here’s What Happened

Palo Alto Networks, Inc. (NASDAQ:PANW)’s stock price was down 1.4% on Friday . The stock traded as low as $194.67 and last traded at $196.08. Approximately 1,502,985 shares were traded during trading, a decline of 76% from the average daily volume of 6,245,197 shares. The stock had previously closed at $198.81.

Analysts Set New Price Targets

Several analysts have recently weighed in on PANW shares. Hsbc Global Res downgraded shares of Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 22nd. Loop Capital cut their target price on shares of Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. BMO Capital Markets lifted their target price on shares of Palo Alto Networks from $195.00 to $212.50 and gave the company an “outperform” rating in a report on Thursday, November 21st. Susquehanna lifted their target price on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a “positive” rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Palo Alto Networks from $193.50 to $224.50 and gave the company an “overweight” rating in a report on Monday, November 18th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $204.69.

Palo Alto Networks Stock Performance

The firm’s 50-day moving average is $187.09 and its 200 day moving average is $183.48. The firm has a market capitalization of $126.48 billion, a PE ratio of 107.62, a price-to-earnings-growth ratio of 5.64 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Nikesh Arora sold 490,723 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $89,532,411.35. Following the sale, the chief executive officer now directly owns 1,086,404 shares in the company, valued at $198,214,409.80. The trade was a 31.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nir Zuk sold 336,000 shares of the company’s stock in a transaction dated 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 owns 3,643,516 shares in the company, valued at approximately $705,730,831.62. This trade represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,458,864 shares of company stock worth $269,397,331 in the last three months. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new position in Palo Alto Networks in the 3rd quarter valued at about $1,156,000. Harvest Portfolios Group Inc. purchased a new position in Palo Alto Networks in the 3rd quarter valued at about $24,414,000. Jennison Associates LLC lifted its holdings in Palo Alto Networks by 50.1% in the 3rd quarter. Jennison Associates LLC now owns 3,147,215 shares of the network technology company’s stock valued at $1,075,718,000 after purchasing an additional 1,050,173 shares in the last quarter. Swiss National Bank lifted its holdings in Palo Alto Networks by 0.5% in the 3rd quarter. Swiss National Bank now owns 961,000 shares of the network technology company’s stock valued at $328,470,000 after purchasing an additional 4,400 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its holdings in shares of Palo Alto Networks by 15.0% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 40,173 shares of the network technology company’s stock worth $13,731,000 after acquiring an additional 5,250 shares during the period. 79.82% of the stock is currently 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.