Palo Alto Networks, Inc. (NYSE:PANW) Director Mark D. Mclaughlin sold 1,500 shares of Palo Alto Networks stock in a transaction dated Friday, June 4th. The stock was sold at an average price of $353.13, for a total value of $529,695.00. Following the sale, the director now directly owns 56,537 shares of the company’s stock, valued at approximately $19,964,910.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of PANW traded down $0.98 during trading hours on Monday, hitting $356.37. 515,752 shares of the stock were exchanged, compared to its average volume of 1,106,122. The company has a quick ratio of 0.98, a current ratio of 1.38 and a debt-to-equity ratio of 3.20. The company has a market capitalization of $34.71 billion, a price-to-earnings ratio of -78.37 and a beta of 1.39. The business’s 50-day simple moving average is $348.92. Palo Alto Networks, Inc. has a fifty-two week low of $217.48 and a fifty-two week high of $403.00.
Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Wednesday, May 19th. The network technology company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.10. Palo Alto Networks had a negative net margin of 11.00% and a negative return on equity of 10.65%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the firm earned $1.17 earnings per share. The business’s quarterly revenue was up 23.5% compared to the same quarter last year. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post -1.9 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Abundance Wealth Counselors purchased a new stake in Palo Alto Networks during the first quarter worth about $32,000. Litman Gregory Asset Management LLC purchased a new position in Palo Alto Networks during the fourth quarter valued at approximately $39,000. Hudock Inc. grew its stake in Palo Alto Networks by 100.0% during the fourth quarter. Hudock Inc. now owns 112 shares of the network technology company’s stock valued at $39,000 after acquiring an additional 56 shares in the last quarter. Curi Capital bought a new stake in Palo Alto Networks during the fourth quarter valued at approximately $40,000. Finally, Wealthcare Capital Management LLC bought a new stake in Palo Alto Networks during the first quarter valued at approximately $40,000. 82.59% of the stock is currently owned by institutional investors.
Several analysts recently commented on the company. Monness Crespi & Hardt boosted their price target on Palo Alto Networks from $315.00 to $440.00 in a research report on Friday, February 19th. Wedbush increased their target price on Palo Alto Networks from $400.00 to $450.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 23rd. Northland Securities increased their price target on Palo Alto Networks from $420.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, May 21st. BTIG Research increased their price objective on Palo Alto Networks from $419.00 to $460.00 and gave the company a “buy” rating in a report on Monday, February 8th. Finally, Stifel Nicolaus initiated coverage on Palo Alto Networks in a research note on Monday, May 24th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $400.21.
About Palo Alto Networks
Palo Alto Networks, Inc provides cybersecurity platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances and software deployed on an end-customer’s network as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.
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