Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $415.00

Palo Alto Networks (NASDAQ:PANW) had its price target raised by Deutsche Bank Aktiengesellschaft from $395.00 to $415.00 in a research report sent to investors on Thursday morning,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the network technology company’s stock.

PANW has been the subject of a number of other reports. Morgan Stanley upped their price objective on shares of Palo Alto Networks from $390.00 to $421.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Stifel Nicolaus upped their target price on Palo Alto Networks from $385.00 to $440.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. TD Cowen lifted their price target on Palo Alto Networks from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on Palo Alto Networks from $387.00 to $449.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Piper Sandler lifted their target price on shares of Palo Alto Networks from $330.00 to $385.00 and gave the stock a “neutral” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $401.78.

Palo Alto Networks Price Performance

PANW stock traded down $13.37 during midday trading on Thursday, reaching $384.33. The company had a trading volume of 699,501 shares, compared to its average volume of 3,845,688. The stock has a 50 day moving average price of $363.59 and a 200-day moving average price of $338.82. The company has a market capitalization of $125.14 billion, a price-to-earnings ratio of 54.82, a price-to-earnings-growth ratio of 5.63 and a beta of 1.12. Palo Alto Networks has a 1-year low of $260.09 and a 1-year high of $408.53.

Shares of Palo Alto Networks are scheduled to split on Monday, December 16th. The 2-1 split was announced on Wednesday, November 20th. The newly created shares will be distributed to shareholders after the closing bell on Friday, December 13th.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Wednesday, November 20th. The network technology company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.08. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter last year, the company posted $0.63 EPS. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, research analysts anticipate that Palo Alto Networks will post 3.56 earnings per share for the current year.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at $54,854,924.82. This trade represents a 27.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the transaction, the chief executive officer now owns 618,715 shares in the company, valued at $227,680,932.85. The trade was a 11.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,252 shares of company stock worth $89,041,637 in the last quarter. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tradewinds LLC. raised its position in Palo Alto Networks by 1.2% in the 3rd quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock worth $791,000 after purchasing an additional 28 shares during the period. Kathmere Capital Management LLC grew its stake in shares of Palo Alto Networks by 3.4% during the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock valued at $312,000 after buying an additional 30 shares during the last quarter. FLC Capital Advisors increased its holdings in shares of Palo Alto Networks by 0.7% in the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock worth $1,379,000 after buying an additional 30 shares during the period. Cromwell Holdings LLC lifted its stake in shares of Palo Alto Networks by 3.0% in the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock valued at $357,000 after acquiring an additional 30 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its holdings in Palo Alto Networks by 9.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock valued at $119,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

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.