Palo Alto Networks Inc (NYSE:PANW) shares hit a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $217.08 and last traded at $216.69, with a volume of 45786 shares trading hands. The stock had previously closed at $213.54.
A number of brokerages recently issued reports on PANW. BMO Capital Markets lifted their price target on shares of Palo Alto Networks from $220.00 to $222.00 and gave the company a “market perform” rating in a research report on Friday, June 8th. TheStreet raised shares of Palo Alto Networks from a “d” rating to a “c-” rating in a research report on Monday, June 4th. Argus lifted their target price on shares of Palo Alto Networks to $229.00 and gave the stock a “buy” rating in a report on Tuesday, June 5th. Morgan Stanley lifted their target price on shares of Palo Alto Networks from $224.00 to $240.00 and gave the stock a “buy” rating in a report on Tuesday, June 5th. Finally, Credit Suisse Group lifted their target price on shares of Palo Alto Networks from $150.00 to $175.00 and gave the stock an “underweight” rating in a report on Tuesday, June 5th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and thirty-seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $198.68.
The stock has a market cap of $18.46 billion, a PE ratio of -126.65 and a beta of 0.99.
Palo Alto Networks (NYSE:PANW) last announced its earnings results on Monday, June 4th. The network technology company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.08. The company had revenue of $567.10 million during the quarter, compared to analyst estimates of $545.79 million. Palo Alto Networks had a negative net margin of 8.65% and a negative return on equity of 8.51%. equities analysts anticipate that Palo Alto Networks Inc will post -0.26 earnings per share for the current fiscal year.
In other Palo Alto Networks news, EVP Nir Zuk sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $179.57, for a total value of $5,387,100.00. Following the completion of the transaction, the executive vice president now directly owns 1,357,655 shares in the company, valued at $243,794,108.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stanley J. Meresman sold 1,980 shares of the company’s stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $186.79, for a total transaction of $369,844.20. Following the completion of the transaction, the director now owns 11,574 shares of the company’s stock, valued at $2,161,907.46. The disclosure for this sale can be found here. Insiders have sold 202,174 shares of company stock valued at $38,388,761 over the last 90 days. 4.80% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Trust Co. of Vermont boosted its position in shares of Palo Alto Networks by 107.7% in the first quarter. Trust Co. of Vermont now owns 671 shares of the network technology company’s stock worth $121,000 after purchasing an additional 348 shares during the period. NuWave Investment Management LLC boosted its position in shares of Palo Alto Networks by 10,260.0% in the first quarter. NuWave Investment Management LLC now owns 1,036 shares of the network technology company’s stock worth $184,000 after purchasing an additional 1,026 shares during the period. Aristotle Atlantic Partners LLC bought a new position in shares of Palo Alto Networks in the first quarter worth approximately $200,000. Violich Capital Management Inc. bought a new position in shares of Palo Alto Networks in the first quarter worth approximately $205,000. Finally, Columbia Asset Management bought a new position in shares of Palo Alto Networks in the first quarter worth approximately $209,000. Institutional investors and hedge funds own 82.27% of the company’s stock.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.
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