Palo Alto Networks Inc (PANW) Receives $168.27 Average PT from Analysts

Shares of Palo Alto Networks Inc (NYSE:PANW) have received a consensus recommendation of “Buy” from the forty-eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirty-seven have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $168.27.

Several research firms recently issued reports on PANW. Sanford C. Bernstein upped their target price on Palo Alto Networks from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Tuesday, November 21st. Dougherty & Co reissued a “buy” rating and issued a $180.00 target price (up from $170.00) on shares of Palo Alto Networks in a research report on Tuesday, November 21st. Oppenheimer reissued a “buy” rating and issued a $180.00 target price (up from $173.00) on shares of Palo Alto Networks in a research report on Tuesday, November 21st. Imperial Capital upped their target price on Palo Alto Networks from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, November 22nd. Finally, Zacks Investment Research downgraded Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th.

Palo Alto Networks (PANW) traded up $3.56 during midday trading on Wednesday, hitting $165.54. The company had a trading volume of 1,640,070 shares, compared to its average volume of 1,280,000. Palo Alto Networks has a 52-week low of $107.31 and a 52-week high of $167.73. The firm has a market cap of $15,210.00, a P/E ratio of -67.29 and a beta of 1.04.

In related news, President Mark Anderson sold 15,614 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $144.16, for a total value of $2,250,914.24. Following the transaction, the president now directly owns 186,413 shares of the company’s stock, valued at approximately $26,873,298.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kathleen Bonanno sold 2,831 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $150.68, for a total transaction of $426,575.08. Following the completion of the transaction, the chief financial officer now directly owns 38,716 shares in the company, valued at $5,833,726.88. The disclosure for this sale can be found here. Insiders sold a total of 396,644 shares of company stock worth $59,381,588 over the last ninety days. 4.80% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its holdings in Palo Alto Networks by 9.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,491 shares of the network technology company’s stock valued at $467,000 after acquiring an additional 305 shares during the last quarter. Gilman Hill Asset Management LLC raised its holdings in Palo Alto Networks by 6.7% in the 3rd quarter. Gilman Hill Asset Management LLC now owns 5,443 shares of the network technology company’s stock valued at $784,000 after acquiring an additional 340 shares during the last quarter. Strs Ohio raised its holdings in Palo Alto Networks by 5.9% in the 3rd quarter. Strs Ohio now owns 6,225 shares of the network technology company’s stock valued at $897,000 after acquiring an additional 347 shares during the last quarter. Nine Chapters Capital Management LLC raised its holdings in Palo Alto Networks by 18.2% in the 3rd quarter. Nine Chapters Capital Management LLC now owns 2,600 shares of the network technology company’s stock valued at $375,000 after acquiring an additional 400 shares during the last quarter. Finally, Analyst IMS Investment Management Services Ltd. raised its holdings in Palo Alto Networks by 5.2% in the 3rd quarter. Analyst IMS Investment Management Services Ltd. now owns 9,330 shares of the network technology company’s stock valued at $1,306,000 after acquiring an additional 460 shares during the last quarter. 78.92% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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