Palo Alto Networks (NASDAQ:PANW) Shares Gap Up on Analyst Upgrade

Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) shares gapped up prior to trading on Wednesday after TheStreet upgraded the stock from a c rating to a b- rating. The stock had previously closed at $189.74, but opened at $196.23. Palo Alto Networks shares last traded at $204.12, with a volume of 4,991,433 shares traded.

Several other equities analysts have also recently commented on the stock. Raymond James boosted their price objective on shares of Palo Alto Networks from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday. Stifel Nicolaus boosted their price objective on shares of Palo Alto Networks from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday. Wolfe Research boosted their price objective on shares of Palo Alto Networks from $210.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday. BTIG Research boosted their price objective on shares of Palo Alto Networks from $240.00 to $253.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Loop Capital boosted their price objective on shares of Palo Alto Networks from $225.00 to $240.00 in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and thirty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.19.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 275 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $186.60, for a total transaction of $51,315.00. Following the transaction, the chief accounting officer now directly owns 30,944 shares of the company’s stock, valued at approximately $5,774,150.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Lee Klarich sold 45,000 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $183.12, for a total value of $8,240,400.00. Following the sale, the executive vice president now directly owns 605,212 shares of the company’s stock, valued at approximately $110,826,421.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Josh D. Paul sold 275 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $186.60, for a total transaction of $51,315.00. Following the completion of the sale, the chief accounting officer now directly owns 30,944 shares in the company, valued at $5,774,150.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 267,330 shares of company stock valued at $50,478,046. 3.90% of the stock is currently owned by company insiders.

Institutional Trading of Palo Alto Networks

A number of hedge funds and other institutional investors have recently modified their holdings of the business. JNBA Financial Advisors grew its position in Palo Alto Networks by 200.0% during the 3rd quarter. JNBA Financial Advisors now owns 150 shares of the network technology company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Ten Capital Wealth Advisors LLC grew its position in Palo Alto Networks by 200.0% during the 3rd quarter. Ten Capital Wealth Advisors LLC now owns 150 shares of the network technology company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. American National Bank grew its position in Palo Alto Networks by 600.0% during the 1st quarter. American National Bank now owns 126 shares of the network technology company’s stock valued at $25,000 after purchasing an additional 108 shares during the last quarter. Dark Forest Capital Management LP grew its position in Palo Alto Networks by 2,950.0% during the 4th quarter. Dark Forest Capital Management LP now owns 183 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 177 shares during the last quarter. Finally, Grey Fox Wealth Advisors LLC purchased a new stake in Palo Alto Networks during the 4th quarter valued at about $26,000. 81.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Performance

The company’s 50-day moving average is $192.20 and its 200 day moving average is $178.00. The company has a market capitalization of $62.94 billion, a PE ratio of 330.13, a P/E/G ratio of 5.41 and a beta of 1.17.

Palo Alto Networks (NASDAQ:PANW – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The network technology company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.12 by $0.22. Palo Alto Networks had a net margin of 3.32% and a return on equity of 69.46%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. On average, analysts forecast that Palo Alto Networks, Inc. will post 1.2 EPS for the current fiscal year.

About Palo Alto Networks

(Get Rating)

Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: the United States, Israel, and Other Countries. The company was founded by Nir Zuk in March 2005 and is headquartered in Santa Clara, CA.