Palo Alto Networks Inc (NYSE:PANW) Director Stanley J. Meresman sold 1,958 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $177.48, for a total transaction of $347,505.84. Following the sale, the director now owns 1,658 shares of the company’s stock, valued at $294,261.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of NYSE:PANW traded up $4.55 during mid-day trading on Thursday, hitting $181.80. The stock had a trading volume of 87,733 shares, compared to its average volume of 1,729,844. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.93 and a current ratio of 2.10. The company has a market cap of $16.82 billion, a PE ratio of -330.51, a price-to-earnings-growth ratio of 10.63 and a beta of 1.14. Palo Alto Networks Inc has a 12-month low of $140.12 and a 12-month high of $239.50.
Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Thursday, November 29th. The network technology company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. The business had revenue of $656.00 million during the quarter, compared to the consensus estimate of $632.16 million. Palo Alto Networks had a negative net margin of 5.04% and a negative return on equity of 1.72%. The firm’s quarterly revenue was up 30.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 EPS. On average, equities analysts predict that Palo Alto Networks Inc will post 0.71 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in the business. Advisors Capital Management LLC lifted its position in Palo Alto Networks by 1.3% in the 3rd quarter. Advisors Capital Management LLC now owns 19,705 shares of the network technology company’s stock worth $4,439,000 after buying an additional 246 shares in the last quarter. Tradewinds Capital Management LLC lifted its position in Palo Alto Networks by 12.0% in the 2nd quarter. Tradewinds Capital Management LLC now owns 2,330 shares of the network technology company’s stock worth $479,000 after buying an additional 250 shares in the last quarter. ACG Wealth lifted its position in Palo Alto Networks by 15.8% in the 3rd quarter. ACG Wealth now owns 1,901 shares of the network technology company’s stock worth $428,000 after buying an additional 260 shares in the last quarter. Utah Retirement Systems lifted its position in Palo Alto Networks by 1.8% in the 3rd quarter. Utah Retirement Systems now owns 16,700 shares of the network technology company’s stock worth $3,762,000 after buying an additional 300 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Palo Alto Networks by 10.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,102 shares of the network technology company’s stock worth $637,000 after buying an additional 305 shares in the last quarter. Institutional investors own 80.83% of the company’s stock.
A number of analysts recently weighed in on the stock. UBS Group upgraded shares of Palo Alto Networks to a “neutral” rating in a report on Wednesday, October 3rd. Jefferies Financial Group reduced their target price on shares of Palo Alto Networks from $267.00 to $249.00 and set a “buy” rating for the company in a report on Friday, November 30th. Oppenheimer raised their target price on shares of Palo Alto Networks from $235.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday, September 7th. Zacks Investment Research cut shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. Finally, Robert W. Baird restated an “outperform” rating on shares of Palo Alto Networks in a report on Thursday, October 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $239.94.
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Palo Alto Networks Company Profile
Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.
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