Palo Alto Networks (NASDAQ:PANW) Shares Down 1.5% – What’s Next?

Shares of Palo Alto Networks, Inc. (NASDAQ:PANW) traded down 1.5% during trading on Wednesday . The stock traded as low as $186.90 and last traded at $187.07. 861,958 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 5,716,197 shares. The stock had previously closed at $189.95.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Westpark Capital reiterated a “hold” rating and set a $196.40 price target on shares of Palo Alto Networks in a research note on Wednesday, February 12th. StockNews.com downgraded shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Loop Capital dropped their price target on Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. UBS Group increased their price objective on Palo Alto Networks from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $225.00 price target on shares of Palo Alto Networks in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $205.06.

Palo Alto Networks Price Performance

The firm has a market cap of $114.38 billion, a PE ratio of 97.33, a P/E/G ratio of 5.64 and a beta of 1.04. The stock has a 50-day moving average price of $187.47 and a 200 day moving average price of $185.31.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Lee Klarich sold 120,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the completion of the sale, the executive vice president now directly owns 365,856 shares of the company’s stock, valued at approximately $65,744,323.20. This represents a 24.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nikesh Arora sold 235,492 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $183.32, for a total value of $43,170,393.44. Following the completion of the transaction, the chief executive officer now directly owns 1,086,404 shares in the company, valued at $199,159,581.28. This trade represents a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,122,864 shares of company stock worth $204,315,811 in the last quarter. 2.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Palo Alto Networks

Large investors have recently modified their holdings of the stock. SJS Investment Consulting Inc. lifted its position in shares of Palo Alto Networks by 97.2% during the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after purchasing an additional 69 shares in the last quarter. Transce3nd LLC purchased a new position in Palo Alto Networks in the 4th quarter valued at about $25,000. Valued Wealth Advisors LLC increased its position in shares of Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock worth $26,000 after acquiring an additional 101 shares during the last quarter. Strategic Investment Solutions Inc. IL boosted its holdings in Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Finally, Abound Wealth Management grew its stake in Palo Alto Networks by 97.3% during the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 72 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

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.