Palo Alto Networks (NASDAQ:PANW) Trading Down 1% – Here’s Why

by · The Cerbat Gem

Palo Alto Networks, Inc. (NASDAQ:PANW – Get Free Report) dropped 1% during trading on Wednesday . The stock traded as low as $192.11 and last traded at $192.96. Approximately 4,528,556 shares traded hands during trading, a decline of 27% from the average daily volume of 6,182,590 shares. The stock had previously closed at $195.00.

Analyst Ratings Changes

A number of research analysts have issued reports on PANW shares. Wedbush reissued an “outperform” rating and issued a $225.00 price target on shares of Palo Alto Networks in a report on Thursday, November 20th. UBS Group reaffirmed a “neutral” rating and set a $220.00 price objective (down previously from $230.00) on shares of Palo Alto Networks in a research note on Thursday, November 20th. Piper Sandler restated an “overweight” rating and set a $230.00 price objective (up from $225.00) on shares of Palo Alto Networks in a research report on Thursday, November 20th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Palo Alto Networks in a research note on Monday, November 24th. Finally, HSBC cut shares of Palo Alto Networks from a “hold” rating to a “reduce” rating and set a $157.00 price objective for the company. in a research report on Thursday, November 20th. Thirty research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus target price of $225.09.

View Our Latest Stock Report on PANW

Palo Alto Networks Stock Performance

The company has a market capitalization of $134.49 billion, a PE ratio of 122.13, a price-to-earnings-growth ratio of 4.62 and a beta of 0.79. The firm’s 50-day simple moving average is $205.64 and its 200 day simple moving average is $197.48.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last issued its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.04. Palo Alto Networks had a return on equity of 17.05% and a net margin of 11.69%.The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the firm posted $1.56 EPS. Palo Alto Networks’s revenue was up 15.7% on a year-over-year basis. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Activity

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $217.94, for a total value of $26,321,485.56. Following the transaction, the executive vice president directly owned 356,409 shares of the company’s stock, valued at $77,675,777.46. This represents a 25.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $204.19, for a total transaction of $1,020,950.00. Following the transaction, the executive vice president directly owned 96,135 shares in the company, valued at $19,629,805.65. The trade was a 4.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,215,830 shares of company stock valued at $249,260,680. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Palo Alto Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Darwin Wealth Management LLC acquired a new stake in Palo Alto Networks during the 2nd quarter worth about $25,000. Whipplewood Advisors LLC lifted its stake in Palo Alto Networks by 6,400.0% in the second quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock valued at $27,000 after acquiring an additional 128 shares during the last quarter. Briaud Financial Planning Inc bought a new stake in Palo Alto Networks in the second quarter worth $28,000. Howard Hughes Medical Institute bought a new stake in shares of Palo Alto Networks during the 2nd quarter worth about $29,000. Finally, Winch Advisory Services LLC boosted its position in Palo Alto Networks by 96.1% during the third quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company’s stock worth $30,000 after purchasing an additional 73 shares during the period. Institutional investors 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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