Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $300.00

Palo Alto Networks (NASDAQ:PANW) had its price objective lifted by Robert W. Baird from $265.00 to $300.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the network technology company’s stock. Robert W. Baird’s price target indicates a potential upside of 6.50% from the company’s current price.

A number of other research analysts have also weighed in on PANW. Capital One Financial boosted their target price on Palo Alto Networks from $168.00 to $248.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 19th. Wedbush boosted their target price on Palo Alto Networks from $225.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Sanford C. Bernstein set a $209.00 target price on Palo Alto Networks and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Loop Capital decreased their target price on Palo Alto Networks from $190.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, February 18th. Finally, UBS Group reissued a “neutral” rating on shares of Palo Alto Networks in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average price target of $235.91.

Palo Alto Networks Stock Performance

PANW stock opened at $281.69 on Monday. The firm has a market capitalization of $229.86 billion, a PE ratio of 155.63, a PEG ratio of 10.16 and a beta of 0.94. Palo Alto Networks has a 1-year low of $139.57 and a 1-year high of $283.71. The business’s 50 day simple moving average is $192.58 and its 200 day simple moving average is $183.73.

Insider Transactions at Palo Alto Networks

In other news, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $160.42, for a total transaction of $802,100.00. Following the completion of the sale, the executive vice president directly owned 150,250 shares in the company, valued at approximately $24,103,105. This represents a 3.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John P. Key sold 1,572 shares of the company’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $173.32, for a total value of $272,459.04. Following the sale, the director owned 20,000 shares of the company’s stock, valued at approximately $3,466,400. The trade was a 7.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 93,660 shares of company stock worth $21,346,475. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Darwin Wealth Management LLC acquired a new position in Palo Alto Networks in the second quarter valued at about $25,000. Steph & Co. raised its stake in Palo Alto Networks by 88.2% in the fourth quarter. Steph & Co. now owns 143 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 67 shares in the last quarter. Knuff & Co LLC acquired a new position in Palo Alto Networks in the fourth quarter valued at about $26,000. Sittner & Nelson LLC raised its stake in Palo Alto Networks by 73.8% in the fourth quarter. Sittner & Nelson LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 62 shares in the last quarter. Finally, Luken Investment Analytics LLC raised its stake in Palo Alto Networks by 196.2% in the fourth quarter. Luken Investment Analytics LLC now owns 154 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 102 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

About Palo Alto Networks

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next?generation firewalls as a core on?premises capability, alongside cloud?delivered security services and software for securing public and private clouds.