Palo Alto Networks (NASDAQ:PANW) Shares Down 0% – Time to Sell?

Shares of Palo Alto Networks, Inc. (NASDAQ:PANW) dropped 0% on Tuesday . The company traded as low as $186.65 and last traded at $188.19. Approximately 447,106 shares changed hands during trading, a decline of 94% from the average daily volume of 7,522,717 shares. The stock had previously closed at $188.22.

Analyst Ratings Changes

PANW has been the subject of a number of research reports. Wells Fargo & Company raised their price objective on Palo Alto Networks from $208.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Jefferies Financial Group lifted their price target on shares of Palo Alto Networks from $225.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. TD Cowen upped their price objective on shares of Palo Alto Networks from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Needham & Company LLC lifted their price objective on shares of Palo Alto Networks from $192.50 to $225.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, BNP Paribas started coverage on shares of Palo Alto Networks in a research report on Tuesday, October 8th. They set an “outperform” rating and a $205.00 target price for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.40.

Palo Alto Networks Trading Up 0.7 %

The firm has a market cap of $124.36 billion, a P/E ratio of 24.68, a PEG ratio of 5.75 and a beta of 1.12. The business’s fifty day simple moving average is $192.02 and its 200-day simple moving average is $176.64.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Wednesday, November 20th. The network technology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. Palo Alto Networks had a return on equity of 23.36% and a net margin of 32.99%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. As a group, research analysts expect that Palo Alto Networks, Inc. will post 3.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 72,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $166.25, for a total transaction of $11,970,000.00. Following the completion of the transaction, the executive vice president now owns 2,231,134 shares of the company’s stock, valued at approximately $370,926,027.50. This trade represents a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Nikesh Arora sold 163,172 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $184.00, for a total transaction of $30,022,832.14. Following the completion of the transaction, the chief executive officer now owns 1,237,430 shares of the company’s stock, valued at approximately $227,680,932.85. The trade was a 11.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 571,172 shares of company stock valued at $107,074,352 in the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of Palo Alto Networks

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mainstream Capital Management LLC purchased a new stake in shares of Palo Alto Networks in the third quarter worth $1,156,000. Alpha Cubed Investments LLC grew its position in Palo Alto Networks by 16.4% during the 3rd quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock valued at $79,149,000 after purchasing an additional 32,626 shares during the last quarter. Harvest Portfolios Group Inc. bought a new stake in Palo Alto Networks during the 3rd quarter valued at about $24,414,000. Handelsbanken Fonder AB raised its holdings in Palo Alto Networks by 3.8% in the third quarter. Handelsbanken Fonder AB now owns 196,700 shares of the network technology company’s stock worth $67,232,000 after buying an additional 7,291 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in Palo Alto Networks by 50.1% in the third quarter. Jennison Associates LLC now owns 3,147,215 shares of the network technology company’s stock worth $1,075,718,000 after buying an additional 1,050,173 shares during the last quarter. Hedge funds and other institutional investors 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.