Palo Alto Networks Inc. (NYSE:PANW) announced its earnings results on Monday. The network technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. Palo Alto Networks had a negative return on equity of 34.28% and a negative net margin of 16.39%. The company had revenue of $398.10 million for the quarter, compared to analyst estimates of $400.20 million. During the same quarter in the prior year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year. Palo Alto Networks updated its Q2 guidance to $0.61-0.63 EPS.

Shares of Palo Alto Networks (NYSE:PANW) traded down 0.18% on Monday, reaching $161.06. The company had a trading volume of 4,570,514 shares. The stock’s 50 day moving average is $153.91 and its 200 day moving average is $140.14. The firm’s market capitalization is $14.63 billion. Palo Alto Networks has a 52 week low of $111.09 and a 52 week high of $194.73.

Earnings History for Palo Alto Networks (NYSE:PANW)

In other Palo Alto Networks news, CEO Mark D. Mclaughlin sold 70,000 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $140.00, for a total transaction of $9,800,000.00. Following the completion of the transaction, the chief executive officer now owns 667,303 shares of the company’s stock, valued at approximately $93,422,420. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark D. Mclaughlin sold 26,423 shares of the stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $144.29, for a total transaction of $3,812,574.67. Following the transaction, the chief executive officer now directly owns 540,880 shares of the company’s stock, valued at approximately $78,043,575.20. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. increased its position in Palo Alto Networks by 8.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,932,782 shares of the network technology company’s stock valued at $237,036,000 after buying an additional 156,589 shares during the period. BlackRock Group LTD increased its position in shares of Palo Alto Networks by 7.7% in the second quarter. BlackRock Group LTD now owns 537,728 shares of the network technology company’s stock worth $65,949,000 after buying an additional 38,235 shares during the last quarter. Champlain Investment Partners LLC increased its position in shares of Palo Alto Networks by 453.2% in the second quarter. Champlain Investment Partners LLC now owns 330,550 shares of the network technology company’s stock worth $40,539,000 after buying an additional 270,795 shares during the last quarter. Pictet Asset Management Ltd. increased its position in shares of Palo Alto Networks by 61.2% in the second quarter. Pictet Asset Management Ltd. now owns 221,700 shares of the network technology company’s stock worth $28,923,000 after buying an additional 84,200 shares during the last quarter. Finally, Raymond James & Associates increased its position in shares of Palo Alto Networks by 6.4% in the second quarter. Raymond James & Associates now owns 178,583 shares of the network technology company’s stock worth $21,901,000 after buying an additional 10,816 shares during the last quarter. 82.82% of the stock is owned by institutional investors and hedge funds.

Several research analysts have issued reports on the company. Zacks Investment Research upgraded Palo Alto Networks from a “strong sell” rating to a “hold” rating in a report on Thursday, September 1st. Morgan Stanley reiterated an “overweight” rating and issued a $185.00 price target on shares of Palo Alto Networks in a report on Wednesday, August 17th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $177.00 price target on shares of Palo Alto Networks in a report on Thursday, September 1st. Argus reiterated a “buy” rating and issued a $205.00 price target on shares of Palo Alto Networks in a report on Saturday, September 3rd. Finally, Citigroup Inc. cut their price target on Palo Alto Networks from $145.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, August 31st. Seven equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $181.48.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc is a security company. The Company’s security platform consists of three elements: its Next-Generation Firewall, its Advanced Endpoint Protection, and its Threat Intelligence Cloud. The Company’s 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.

5 Day Chart for NYSE:PANW

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