Needham & Company LLC restated their hold rating on shares of Palo Alto Networks Inc. (NYSE:PANW) in a report issued on Monday.

Several other equities research analysts have also recently issued reports on the company. Wells Fargo & Co. restated an outperform rating and set a $176.00 price objective (down previously from $187.00) on shares of Palo Alto Networks in a report on Monday. Piper Jaffray Cos. set a $178.00 price objective on Palo Alto Networks and gave the stock a buy rating in a report on Thursday, November 24th. Stifel Nicolaus set a $210.00 price objective on Palo Alto Networks and gave the stock a buy rating in a report on Thursday, November 24th. Zacks Investment Research cut Palo Alto Networks from a hold rating to a strong sell rating in a report on Thursday, November 24th. Finally, DA Davidson set a $186.00 price objective on Palo Alto Networks and gave the stock a buy rating in a report on Tuesday, November 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Palo Alto Networks currently has a consensus rating of Buy and an average target price of $180.06.

Shares of Palo Alto Networks (NYSE:PANW) opened at 136.26 on Monday. The stock’s market cap is $12.24 billion. The firm’s 50-day moving average price is $151.57 and its 200 day moving average price is $140.38. Palo Alto Networks has a one year low of $111.09 and a one year high of $194.73.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Monday, November 21st. The network technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $398.10 million for the quarter, compared to analysts’ expectations of $400.20 million. Palo Alto Networks had a negative return on equity of 35.75% and a negative net margin of 16.83%. Palo Alto Networks’s quarterly revenue was up 34.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 EPS. Equities research analysts expect that Palo Alto Networks will post $2.78 EPS for the current fiscal year.

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In related news, President Mark Anderson sold 17,945 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $139.56, for a total transaction of $2,504,404.20. Following the sale, the president now directly owns 269,763 shares in the company, valued at $37,648,124.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark D. Mclaughlin sold 26,423 shares of the firm’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $144.29, for a total transaction of $3,812,574.67. Following the sale, the chief executive officer now owns 540,880 shares in the company, valued at $78,043,575.20. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of PANW. Jennison Associates LLC raised its stake in shares of Palo Alto Networks by 32.3% in the second quarter. Jennison Associates LLC now owns 4,768,553 shares of the network technology company’s stock worth $584,815,000 after buying an additional 1,163,146 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Palo Alto Networks by 30.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 4,871,628 shares of the network technology company’s stock worth $776,196,000 after buying an additional 1,137,120 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Palo Alto Networks by 122.1% in the second quarter. Alliancebernstein L.P. now owns 2,037,537 shares of the network technology company’s stock worth $249,884,000 after buying an additional 1,120,097 shares during the last quarter. Criterion Capital Management LLC raised its stake in shares of Palo Alto Networks by 374.5% in the second quarter. Criterion Capital Management LLC now owns 610,330 shares of the network technology company’s stock worth $74,851,000 after buying an additional 481,710 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Palo Alto Networks by 6.2% in the second quarter. Vanguard Group Inc. now owns 6,066,172 shares of the network technology company’s stock worth $743,954,000 after buying an additional 353,873 shares during the last quarter. Institutional investors and hedge funds own 87.20% of the company’s stock.

About Palo Alto Networks

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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