Palo Alto Networks (NASDAQ:PANW) Downgraded to “Neutral” Rating by BTIG Research

BTIG Research cut shares of Palo Alto Networks (NASDAQ:PANW) from a buy rating to a neutral rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports.

PANW has been the topic of a number of other research reports. Stifel Nicolaus increased their price target on Palo Alto Networks from $192.50 to $220.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Needham & Company LLC increased their target price on Palo Alto Networks from $192.50 to $225.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Cantor Fitzgerald restated an “overweight” rating and set a $222.50 target price on shares of Palo Alto Networks in a research report on Thursday, November 21st. Susquehanna upped their price target on Palo Alto Networks from $210.00 to $217.50 and gave the company a “positive” rating in a research note on Thursday, November 21st. Finally, Hsbc Global Res lowered shares of Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 22nd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $199.29.

Palo Alto Networks Stock Down 1.5 %

Palo Alto Networks stock opened at $172.83 on Wednesday. The stock has a market cap of $113.41 billion, a price-to-earnings ratio of 22.50, a P/E/G ratio of 5.75 and a beta of 1.14. Palo Alto Networks has a 12-month low of $130.04 and a 12-month high of $207.24. The business’s 50-day simple moving average is $191.49 and its 200 day simple moving average is $178.27.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Wednesday, November 20th. The network technology company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Palo Alto Networks had a net margin of 32.99% and a return on equity of 23.36%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 EPS. As a group, sell-side analysts expect that Palo Alto Networks will post 3.49 EPS for the current year.

Insider Activity at Palo Alto Networks

In related news, EVP Nir Zuk sold 336,000 shares of Palo Alto Networks stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $193.70, for a total transaction of $65,081,520.00. Following the completion of the transaction, the executive vice president now owns 3,643,516 shares in the company, valued at approximately $705,730,831.62. This trade represents a 8.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 120,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $179.70, for a total value of $21,564,000.00. Following the completion of the sale, the executive vice president now owns 365,856 shares in the company, valued at $65,744,323.20. This represents a 24.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 867,734 shares of company stock valued at $161,546,523. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palo Alto Networks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PANW. International Assets Investment Management LLC raised its position in shares of Palo Alto Networks by 34,318.2% in the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after purchasing an additional 3,249,594 shares during the period. Nordea Investment Management AB grew its stake in Palo Alto Networks by 199.1% in the 4th quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company’s stock valued at $333,925,000 after buying an additional 1,213,073 shares during the last quarter. Jennison Associates LLC raised its holdings in Palo Alto Networks by 50.1% in the 3rd 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 acquired a new stake in Palo Alto Networks during the third quarter worth approximately $174,124,000. Finally, Altshuler Shaham Ltd boosted its holdings in shares of Palo Alto Networks by 444,100.0% during the second quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock worth $150,520,000 after acquiring an additional 444,100 shares during the period. 79.82% of the stock is owned by institutional investors.

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.