Palo Alto Networks (NASDAQ:PANW) Shares Set to Split on Monday, December 16th
Palo Alto Networks (NASDAQ:PANW) is set to execute a 2-for-1 stock split on December 16th, following the announcement made on November 20th. Shareholders will receive the new shares after market close on December 13th. The stock opened at $82, with a market cap of $24 billion and a P/E ratio of 50.50. Recent earnings showed a net margin of 32.99% and revenue growth of 13.9% year-over-year. Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and a target price of $103.03.
Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report)'s stock is scheduled to split before the market opens on Monday, December 16th. The 2-1 split was announced on Wednesday, November 20th. The newly minted shares will be distributed to shareholders after the closing bell on Friday, December 13th.
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Palo Alto Networks Price Performance
- Palo Alto Networks: A Pre-Split Investment Opportunity?
Shares of PANW opened at $387.82 on Friday. The firm's 50 day moving average is $369.36 and its 200-day moving average is $342.42. Palo Alto Networks has a 12-month low of $260.09 and a 12-month high of $408.53. The stock has a market capitalization of $127.24 billion, a P/E ratio of 50.50, a P/E/G ratio of 5.63 and a beta of 1.12.
Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its earnings results on Wednesday, November 20th. The network technology company reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.48 by $0.08. Palo Alto Networks had a net margin of 32.99% and a return on equity of 23.36%. The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. During the same period last year, the firm posted $0.63 earnings per share. The firm's revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, equities research analysts forecast that Palo Alto Networks will post 3.49 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
- Why Palo Alto Networks' Multi-Year Uptrend Is Far From Over
A number of equities analysts recently weighed in on PANW shares. OTR Global reissued a "negative" rating on shares of Palo Alto Networks in a research note on Thursday, November 7th. HSBC lowered shares of Palo Alto Networks from a "hold" rating to a "reduce" rating and cut their price target for the company from $304.00 to $291.00 in a report on Friday, November 22nd. BMO Capital Markets lifted their price objective on shares of Palo Alto Networks from $390.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, November 21st. Morgan Stanley boosted their target price on shares of Palo Alto Networks from $390.00 to $421.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Finally, DA Davidson raised their target price on Palo Alto Networks from $380.00 to $415.00 and gave the stock a "buy" rating in a research report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of "Moderate Buy" and a consensus target price of $402.03.
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Insiders Place Their Bets
- 3 Hot Stock Trends to Ride Into 2025
In related news, CEO Nikesh Arora sold 66,666 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total value of $22,865,104.68. Following the completion of the sale, the chief executive officer now owns 639,994 shares in the company, valued at approximately $219,505,142.12. This trade represents a 9.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the business's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the transaction, the executive vice president now owns 1,115,567 shares in the company, valued at $370,926,027.50. This represents a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 412,252 shares of company stock valued at $150,638,257 in the last three months. Company insiders own 2.50% of the company's stock.
Institutional Investors Weigh In On Palo Alto Networks
A number of institutional investors have recently bought and sold shares of PANW. Capital Advisors Ltd. LLC raised its position in Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company's stock worth $26,000 after purchasing an additional 41 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Palo Alto Networks in the 3rd quarter worth approximately $29,000. Sound Income Strategies LLC lifted its position in shares of Palo Alto Networks by 352.6% during the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company's stock worth $29,000 after buying an additional 67 shares during the period. Strategic Investment Solutions Inc. IL boosted its stake in Palo Alto Networks by 177.4% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company's stock valued at $29,000 after buying an additional 55 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new stake in Palo Alto Networks in the first quarter valued at $25,000. Institutional investors and hedge funds own 79.82% of the company's stock.
About Palo Alto Networks
(Get Free Report)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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