Palo Alto Networks (PANW) Reaches New 52-Week High and Low at $217.08

Palo Alto Networks Inc (NYSE:PANW) reached a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $217.08 and last traded at $216.69, with a volume of 45786 shares trading hands. The stock had previously closed at $213.54.

Several equities research analysts have recently weighed in on PANW shares. Robert W. Baird increased their target price on shares of Palo Alto Networks from $190.00 to $216.00 and gave the company a “neutral” rating in a research note on Tuesday, June 5th. Deutsche Bank increased their target price on shares of Palo Alto Networks from $180.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Credit Suisse Group increased their target price on shares of Palo Alto Networks from $150.00 to $175.00 and gave the company an “underweight” rating in a research note on Tuesday, June 5th. ValuEngine raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, TheStreet raised shares of Palo Alto Networks from a “d” rating to a “c-” rating in a research note on Monday, June 4th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and thirty-seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $198.68.

The firm has a market capitalization of $18.46 billion, a PE ratio of -126.65 and a beta of 0.99.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Monday, June 4th. The network technology company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.08. Palo Alto Networks had a negative net margin of 8.65% and a negative return on equity of 8.51%. The company had revenue of $567.10 million for the quarter, compared to analysts’ expectations of $545.79 million. equities analysts expect that Palo Alto Networks Inc will post -0.26 earnings per share for the current fiscal year.

In other news, Director Stanley J. Meresman sold 1,980 shares of the firm’s stock in a transaction dated Thursday, March 22nd. The shares were sold at an average price of $186.79, for a total value of $369,844.20. Following the sale, the director now directly owns 11,574 shares in the company, valued at approximately $2,161,907.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark D. Mclaughlin sold 40,000 shares of the firm’s stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $179.34, for a total transaction of $7,173,600.00. Following the completion of the sale, the chief executive officer now owns 296,450 shares in the company, valued at $53,165,343. The disclosure for this sale can be found here. Insiders sold a total of 202,174 shares of company stock worth $38,388,761 over the last 90 days. Company insiders own 4.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Trust Co. of Vermont raised its position in shares of Palo Alto Networks by 107.7% in the 1st quarter. Trust Co. of Vermont now owns 671 shares of the network technology company’s stock valued at $121,000 after purchasing an additional 348 shares during the last quarter. NuWave Investment Management LLC raised its position in shares of Palo Alto Networks by 10,260.0% in the 1st quarter. NuWave Investment Management LLC now owns 1,036 shares of the network technology company’s stock valued at $184,000 after purchasing an additional 1,026 shares during the last quarter. Aristotle Atlantic Partners LLC purchased a new position in shares of Palo Alto Networks in the 1st quarter valued at approximately $200,000. Violich Capital Management Inc. purchased a new position in shares of Palo Alto Networks in the 1st quarter valued at approximately $205,000. Finally, Columbia Asset Management purchased a new position in shares of Palo Alto Networks in the 1st quarter valued at approximately $209,000. Institutional investors and hedge funds own 82.27% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.

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