Palo Alto Networks (NASDAQ:PANW) Stock Price Down 2.1% – Here’s Why

Shares of Palo Alto Networks, Inc. (NASDAQ:PANW) were down 2.1% on Tuesday . The stock traded as low as $178.93 and last traded at $179.83. Approximately 1,574,732 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 6,147,922 shares. The stock had previously closed at $183.68.

Analyst Ratings Changes

Several equities research analysts have recently commented on PANW shares. Hsbc Global Res lowered shares of Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a report on Friday, November 22nd. Jefferies Financial Group lifted their price objective on shares of Palo Alto Networks from $225.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Truist Financial increased their target price 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. BMO Capital Markets boosted their price target on Palo Alto Networks from $195.00 to $212.50 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $190.00 price objective (down from $207.00) on shares of Palo Alto Networks in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.06.

Palo Alto Networks Stock Up 0.4 %

The stock has a market cap of $122.08 billion, a PE ratio of 103.88, a P/E/G ratio of 5.64 and a beta of 1.14. The business’s fifty day moving average is $186.55 and its 200 day moving average is $184.63.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. As a group, analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the transaction, the executive vice president now owns 358,197 shares in the company, valued at approximately $65,353,042.65. The trade was a 21.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Nikesh Arora sold 490,723 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the sale, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at approximately $198,214,409.80. This trade represents a 31.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,122,864 shares of company stock worth $204,315,811. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palo Alto Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH increased its position in shares of Palo Alto Networks by 65.0% during the fourth quarter. Siemens Fonds Invest GmbH now owns 22,037 shares of the network technology company’s stock worth $4,010,000 after acquiring an additional 8,680 shares during the last quarter. Menard Financial Group LLC grew its stake in Palo Alto Networks by 132.7% during the 4th quarter. Menard Financial Group LLC now owns 9,282 shares of the network technology company’s stock valued at $1,689,000 after purchasing an additional 5,294 shares in the last quarter. Employees Retirement System of Texas increased its holdings in Palo Alto Networks by 100.0% during the 4th quarter. Employees Retirement System of Texas now owns 423,700 shares of the network technology company’s stock worth $77,096,000 after purchasing an additional 211,850 shares during the last quarter. Omnia Family Wealth LLC raised its position in shares of Palo Alto Networks by 101.1% in the 4th quarter. Omnia Family Wealth LLC now owns 1,798 shares of the network technology company’s stock valued at $327,000 after purchasing an additional 904 shares in the last quarter. Finally, Bernard Wealth Management Corp. purchased a new position in shares of Palo Alto Networks during the 4th quarter valued at approximately $2,584,000. Hedge funds and other institutional investors 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.