Palo Alto Networks Inc (NYSE:PANW) CEO Mark D. Mclaughlin sold 35,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $157.67, for a total value of $5,518,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Palo Alto Networks Inc (NYSE:PANW) opened at $155.25 on Tuesday. Palo Alto Networks Inc has a 1-year low of $107.31 and a 1-year high of $160.83. The stock has a market cap of $14,270.00, a price-to-earnings ratio of -63.11 and a beta of 1.04.
Palo Alto Networks (NYSE:PANW) last issued its earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.06. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. The business had revenue of $505.50 million for the quarter, compared to analysts’ expectations of $489.36 million. During the same quarter in the previous year, the firm posted $0.55 EPS. The business’s revenue for the quarter was up 27.0% compared to the same quarter last year. equities analysts anticipate that Palo Alto Networks Inc will post -0.37 earnings per share for the current year.
A number of research analysts have recently commented on PANW shares. Oppenheimer reiterated a “buy” rating and issued a $180.00 price target (up from $173.00) on shares of Palo Alto Networks in a research note on Tuesday, November 21st. Zacks Investment Research lowered Palo Alto Networks from a “hold” rating to a “sell” rating in a research report on Monday, November 13th. Northland Securities set a $175.00 price objective on Palo Alto Networks and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Telsey Advisory Group lifted their price objective on Palo Alto Networks from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 22nd. Finally, Sanford C. Bernstein raised their target price on Palo Alto Networks from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, November 21st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirty-four have assigned a buy rating to the company. Palo Alto Networks has a consensus rating of “Buy” and a consensus price target of $167.39.
Hedge funds have recently modified their holdings of the business. American Century Companies Inc. grew its position in shares of Palo Alto Networks by 36.0% during the 3rd quarter. American Century Companies Inc. now owns 2,376,862 shares of the network technology company’s stock valued at $342,506,000 after purchasing an additional 629,523 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new position in shares of Palo Alto Networks during the 4th quarter valued at $70,582,000. Old Mutual Global Investors UK Ltd. purchased a new position in shares of Palo Alto Networks during the 4th quarter valued at $45,074,000. Ameriprise Financial Inc. grew its position in shares of Palo Alto Networks by 35.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,068,289 shares of the network technology company’s stock valued at $153,798,000 after purchasing an additional 279,602 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its position in shares of Palo Alto Networks by 229.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 285,691 shares of the network technology company’s stock valued at $41,168,000 after purchasing an additional 198,937 shares in the last quarter. 79.18% of the stock is currently owned by institutional investors and hedge funds.
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Palo Alto Networks Company Profile
Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
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