Palo Alto Networks Inc (NYSE:PANW) Director Mark D. Mclaughlin sold 6,736 shares of the stock in a transaction on Wednesday, January 9th. The shares were sold at an average price of $195.00, for a total value of $1,313,520.00. Following the sale, the director now owns 221,926 shares in the company, valued at approximately $43,275,570. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of PANW stock traded down $0.14 during mid-day trading on Friday, hitting $195.86. 39,115 shares of the company’s stock were exchanged, compared to its average volume of 1,248,610. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $18.32 billion, a price-to-earnings ratio of -356.11, a price-to-earnings-growth ratio of 11.58 and a beta of 0.81. Palo Alto Networks Inc has a fifty-two week low of $148.41 and a fifty-two week high of $239.50.
Palo Alto Networks (NYSE:PANW) last issued its earnings results on Thursday, November 29th. The network technology company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. The business had revenue of $656.00 million for the quarter, compared to analyst estimates of $632.16 million. Palo Alto Networks had a negative return on equity of 1.72% and a negative net margin of 5.04%. The business’s quarterly revenue was up 30.7% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. As a group, analysts anticipate that Palo Alto Networks Inc will post 0.71 earnings per share for the current fiscal year.
A number of brokerages have commented on PANW. UBS Group upgraded Palo Alto Networks to a “neutral” rating in a report on Wednesday, October 3rd. Morgan Stanley increased their target price on Palo Alto Networks to $276.00 and gave the company a “top pick” rating in a report on Monday, October 8th. Zacks Investment Research upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $238.00 target price on the stock in a report on Tuesday, October 9th. Robert W. Baird reiterated an “outperform” rating on shares of Palo Alto Networks in a report on Thursday, October 18th. Finally, Wedbush began coverage on Palo Alto Networks in a report on Thursday, October 18th. They set a “neutral” rating and a $225.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $238.60.
Several institutional investors and hedge funds have recently modified their holdings of the stock. CENTRAL TRUST Co raised its position in shares of Palo Alto Networks by 7.5% in the 4th quarter. CENTRAL TRUST Co now owns 801 shares of the network technology company’s stock worth $151,000 after buying an additional 56 shares during the period. North Star Investment Management Corp. raised its position in shares of Palo Alto Networks by 28.6% in the 4th quarter. North Star Investment Management Corp. now owns 450 shares of the network technology company’s stock worth $85,000 after buying an additional 100 shares during the period. Advisors Capital Management LLC raised its position in shares of Palo Alto Networks by 1.3% in the 3rd quarter. Advisors Capital Management LLC now owns 19,705 shares of the network technology company’s stock worth $4,439,000 after buying an additional 246 shares during the period. ACG Wealth raised its position in shares of Palo Alto Networks by 15.8% in the 3rd quarter. ACG Wealth now owns 1,901 shares of the network technology company’s stock worth $428,000 after buying an additional 260 shares during the period. Finally, Utah Retirement Systems raised its position in shares of Palo Alto Networks by 1.8% in the 3rd quarter. Utah Retirement Systems now owns 16,700 shares of the network technology company’s stock worth $3,762,000 after buying an additional 300 shares during the period. 80.29% of the stock is currently owned by institutional investors and hedge funds.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances 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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