Palo Alto Networks (NASDAQ:PANW) Shares Down 0.9% on Insider Selling

Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report)'s share price fell 0.9% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $354.00 and last traded at $356.41. 621,676 shares changed hands during trading, a decline of 86% from the average session volume of 4,421,322 shares. The stock had previously closed at $359.75.

• Palo Alto Networks Stock Can Set a New All-Time High Soon

Specifically, Director Mary Pat Mccarthy sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $341.44, for a total transaction of $341,440.00. Following the completion of the transaction, the director now owns 41,517 shares in the company, valued at approximately $14,175,564.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

PANW has been the subject of a number of analyst reports. Macquarie lifted their target price on shares of Palo Alto Networks from $270.00 to $285.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 21st. Scotiabank boosted their price objective on Palo Alto Networks from $385.00 to $400.00 and gave the company a "sector outperform" rating in a research note on Tuesday. Citigroup lifted their price target on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company a "buy" rating in a research note on Tuesday. Rosenblatt Securities increased their target price on Palo Alto Networks from $300.00 to $345.00 and gave the stock a "neutral" rating in a report on Monday. Finally, Needham & Company LLC boosted their price objective on Palo Alto Networks from $345.00 to $385.00 and gave the stock a "buy" rating in a report on Tuesday. Thirteen investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $363.49.

• Momentum in Palo Alto Networks: Tech Stocks Still Going Strong

Read Our Latest Analysis on PANW

Palo Alto Networks Stock Performance

The stock has a market capitalization of $115.41 billion, a P/E ratio of 51.80, a P/E/G ratio of 4.48 and a beta of 1.14. The business's fifty day moving average price is $328.90 and its two-hundred day moving average price is $311.18.

• Fortinet Surges as Cybersecurity Demand Drives Record Earnings

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. Palo Alto Networks's revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company posted $0.80 earnings per share. As a group, analysts forecast that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Institutional Investors Weigh In On Palo Alto Networks

Several hedge funds have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC acquired a new position in Palo Alto Networks in the first quarter valued at approximately $25,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Palo Alto Networks during the fourth quarter worth $27,000. Financial Synergies Wealth Advisors Inc. raised its stake in shares of Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company's stock valued at $28,000 after acquiring an additional 96 shares in the last quarter. Ulland Investment Advisors LLC acquired a new stake in Palo Alto Networks in the 1st quarter valued at about $30,000. Finally, Central Bank & Trust Co. boosted its stake in shares of Palo Alto Networks by 89.3% in the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company's stock valued at $30,000 after buying an additional 50 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

About Palo Alto Networks

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.

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