Shares of Palo Alto Networks Inc (NYSE:PANW) have been given an average rating of “Buy” by the forty-six research firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and thirty-three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $167.25.
Several equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $169.00 price target on the stock in a report on Tuesday, November 28th. Jefferies Group reaffirmed a “buy” rating and set a $183.00 price target (up previously from $168.00) on shares of Palo Alto Networks in a report on Tuesday, November 21st. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $173.00 price target (up previously from $155.00) on shares of Palo Alto Networks in a report on Tuesday, November 21st. Royal Bank of Canada lifted their price target on shares of Palo Alto Networks from $159.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, November 21st. Finally, Evercore ISI raised shares of Palo Alto Networks from an “in-line” rating to an “outperform” rating and set a $180.00 target price on the stock in a report on Thursday, January 18th.
Shares of Palo Alto Networks (NYSE:PANW) traded up $2.43 during trading hours on Friday, reaching $159.71. 797,351 shares of the company’s stock traded hands, compared to its average volume of 1,020,000. Palo Alto Networks has a twelve month low of $107.31 and a twelve month high of $160.50. The stock has a market capitalization of $14,680.00, a P/E ratio of -64.92 and a beta of 0.99.
In other Palo Alto Networks news, CEO Mark D. Mclaughlin sold 25,000 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $149.85, for a total transaction of $3,746,250.00. Following the transaction, the chief executive officer now owns 374,919 shares in the company, valued at $56,181,612.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James J. Goetz sold 78,000 shares of the business’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $146.78, for a total transaction of $11,448,840.00. The disclosure for this sale can be found here. Insiders sold 361,644 shares of company stock worth $53,533,318 in the last 90 days. 4.80% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Highland Capital Management LLC purchased a new stake in shares of Palo Alto Networks during the fourth quarter valued at $898,000. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Palo Alto Networks by 53.0% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 27,412 shares of the network technology company’s stock valued at $3,973,000 after purchasing an additional 9,491 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Palo Alto Networks by 63.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 96,947 shares of the network technology company’s stock valued at $14,052,000 after purchasing an additional 37,495 shares during the period. APG Asset Management N.V. boosted its stake in shares of Palo Alto Networks by 16.7% during the fourth quarter. APG Asset Management N.V. now owns 37,595 shares of the network technology company’s stock valued at $4,538,000 after purchasing an additional 5,367 shares during the period. Finally, Field & Main Bank purchased a new stake in shares of Palo Alto Networks during the fourth quarter valued at $823,000. Institutional investors and hedge funds own 79.90% of the company’s stock.
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Palo Alto Networks Company Profile
Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
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