Palo Alto Networks (NASDAQ:PANW) Downgraded to Moderate Sell Rating by Hsbc Global Res

Palo Alto Networks (NASDAQ:PANW) was downgraded by investment analysts at Hsbc Global Res from a “hold” rating to a “moderate sell” rating in a note issued to investors on Friday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $445.00 price target on shares of Palo Alto Networks in a research note on Thursday. JPMorgan Chase & Co. upped their price target on Palo Alto Networks from $387.00 to $449.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Evercore ISI increased their target price on Palo Alto Networks from $395.00 to $455.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Wells Fargo & Company increased their target price on Palo Alto Networks from $416.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, BMO Capital Markets increased their target price on Palo Alto Networks from $390.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $402.03.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $383.36 on Friday. The business has a 50-day simple moving average of $364.32 and a two-hundred day simple moving average of $339.39. The company has a market cap of $124.82 billion, a PE ratio of 49.92, a P/E/G ratio of 5.76 and a beta of 1.12. Palo Alto Networks has a fifty-two week low of $260.09 and a fifty-two week high of $408.53.

Palo Alto Networks shares are set to split before the market opens on Monday, December 16th. The 2-1 split was announced on Wednesday, November 20th. The newly issued shares will be issued to shareholders after the closing bell on Friday, December 13th.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Wednesday, November 20th. The network technology company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.08. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Palo Alto Networks had a return on equity of 23.36% and a net margin of 32.99%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 earnings per share. On average, sell-side analysts predict that Palo Alto Networks will post 3.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at approximately $54,854,924.82. This trade represents a 27.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at $227,680,932.85. The trade was a 11.65 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,252 shares of company stock valued at $89,041,637. 2.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palo Alto Networks

Several hedge funds have recently bought and sold shares of PANW. Pathway Financial Advisers LLC purchased a new stake in shares of Palo Alto Networks in the first quarter valued at $25,000. Capital Advisors Ltd. LLC grew its position in shares of Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 41 shares during the period. Sound Income Strategies LLC boosted its holdings in Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL boosted its holdings in Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 55 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in Palo Alto Networks in the third quarter valued at $29,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

About Palo Alto Networks

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.