Barclays Cuts Palo Alto Networks (NASDAQ:PANW) Price Target to $213.00

Palo Alto Networks (NASDAQ:PANW) had its price objective decreased by Barclays from $425.00 to $213.00 in a report published on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the network technology company’s stock.

Other research analysts have also issued reports about the company. Truist Financial raised their price objective on Palo Alto Networks from $200.00 to $212.50 and gave the company a “buy” rating in a research report on Monday, November 18th. TD Cowen boosted their price target on Palo Alto Networks from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. BTIG Research lifted their price objective on shares of Palo Alto Networks from $197.50 to $207.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. OTR Global reissued a “negative” rating on shares of Palo Alto Networks in a research report on Thursday, November 7th. Finally, KeyCorp raised their price target on shares of Palo Alto Networks from $200.00 to $217.50 and gave the company an “overweight” rating in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $201.40.

Palo Alto Networks Trading Up 0.3 %

Palo Alto Networks stock opened at $189.36 on Tuesday. The stock has a 50-day moving average price of $191.89 and a 200 day moving average price of $175.31. Palo Alto Networks has a 52 week low of $130.04 and a 52 week high of $207.24. The stock has a market cap of $124.26 billion, a PE ratio of 24.66, a P/E/G ratio of 5.75 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Wednesday, November 20th. The network technology company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. Palo Alto Networks had a net margin of 32.99% and a return on equity of 23.36%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same period in the prior year, the firm posted $0.32 EPS. The company’s revenue was up 13.9% on a year-over-year basis. On average, equities analysts predict that Palo Alto Networks will post 3.49 EPS for the current year.

Insider Buying and Selling at Palo Alto Networks

In other news, CEO Nikesh Arora sold 163,172 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $184.00, for a total value of $30,022,832.14. Following the completion of the sale, the chief executive officer now directly owns 1,237,430 shares of the company’s stock, valued at approximately $227,680,932.85. This represents a 11.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nir Zuk sold 336,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $193.70, for a total transaction of $65,081,520.00. Following the completion of the sale, the executive vice president now directly owns 3,643,516 shares of the company’s stock, valued at $705,730,831.62. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 571,172 shares of company stock valued at $107,074,352 in the last ninety days. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its holdings in Palo Alto Networks by 34,318.2% during the 3rd quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock worth $1,113,948,000 after buying an additional 3,249,594 shares during the period. Jennison Associates LLC raised its holdings in shares of Palo Alto Networks by 50.1% during the third quarter. Jennison Associates LLC now owns 3,147,215 shares of the network technology company’s stock valued at $1,075,718,000 after acquiring an additional 1,050,173 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Palo Alto Networks in the 3rd quarter valued at approximately $174,124,000. Altshuler Shaham Ltd boosted its stake in Palo Alto Networks by 444,100.0% in the 2nd quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock worth $150,520,000 after purchasing an additional 444,100 shares during the period. Finally, Congress Asset Management Co. purchased a new position in Palo Alto Networks during the 3rd quarter worth approximately $94,875,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Company Profile

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.