Palo Alto Networks (PANW) Reaches New 12-Month High at $232.88

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Shares of Palo Alto Networks Inc (NYSE:PANW) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $232.88 and last traded at $229.49, with a volume of 33400 shares trading hands. The stock had previously closed at $230.75.

Several analysts recently issued reports on PANW shares. Royal Bank of Canada lifted their price target on shares of Palo Alto Networks to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, May 23rd. Deutsche Bank lifted their price target on shares of Palo Alto Networks from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, May 24th. Deutsche Bank lifted their price target on shares of Palo Alto Networks from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, May 24th. Barclays lifted their price target on shares of Palo Alto Networks from $206.00 to $235.00 and gave the company an “overweight” rating in a research report on Wednesday, May 30th. Finally, Stifel Nicolaus lifted their price target on shares of Palo Alto Networks from $200.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, May 30th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $211.30.

The company has a market cap of $21.47 billion, a price-to-earnings ratio of -129.96, a price-to-earnings-growth ratio of 20.65 and a beta of 0.82.

Palo Alto Networks (NYSE:PANW) last released its earnings results on Monday, June 4th. The network technology company reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.08. The company had revenue of $567.10 million for the quarter, compared to analysts’ expectations of $545.79 million. Palo Alto Networks had a negative return on equity of 8.51% and a negative net margin of 8.65%. sell-side analysts expect that Palo Alto Networks Inc will post -0.27 earnings per share for the current fiscal year.

In other news, CFO Kathleen Bonanno sold 467 shares of Palo Alto Networks stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $213.03, for a total transaction of $99,485.01. Following the sale, the chief financial officer now directly owns 34,954 shares in the company, valued at approximately $7,446,250.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Klarich sold 4,000 shares of Palo Alto Networks stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $214.08, for a total value of $856,320.00. Following the sale, the executive vice president now owns 384,522 shares in the company, valued at $82,318,469.76. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 73,910 shares of company stock worth $15,307,149 and have sold 242,662 shares worth $49,447,386. Insiders own 4.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PANW. Schroder Investment Management Group raised its stake in Palo Alto Networks by 123.4% in the 2nd quarter. Schroder Investment Management Group now owns 94,104 shares of the network technology company’s stock valued at $19,284,000 after acquiring an additional 51,979 shares during the period. Advisors Asset Management Inc. raised its stake in Palo Alto Networks by 83.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,349 shares of the network technology company’s stock valued at $894,000 after acquiring an additional 1,972 shares during the period. Public Employees Retirement System of Ohio raised its stake in Palo Alto Networks by 43.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 55,095 shares of the network technology company’s stock valued at $11,320,000 after acquiring an additional 16,577 shares during the period. Global X Management Co LLC raised its stake in Palo Alto Networks by 455.0% in the 2nd quarter. Global X Management Co LLC now owns 7,204 shares of the network technology company’s stock valued at $1,480,000 after acquiring an additional 5,906 shares during the period. Finally, Bank of Nova Scotia raised its stake in Palo Alto Networks by 242.3% in the 2nd quarter. Bank of Nova Scotia now owns 106,100 shares of the network technology company’s stock valued at $21,800,000 after acquiring an additional 75,100 shares during the period. Institutional investors own 81.57% of the company’s stock.

Palo Alto Networks Company Profile (NYSE:PANW)

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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