Also, insider Nir Zuk sold 3,138 shares of the firm’s stock in a transaction dated Monday, February 22nd. Following the completion of the sale, the chief executive officer now directly owns 703,329 shares in the company, valued at $135,039,168. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
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Shares of Palo Alto Networks Inc (NASDAQ:PANW) opened at 140.29 on Friday. The stock’s market capitalization is $12.05 billion. PANW has a 1-year high of $200.55 and a 1-year low of $111.09. The 50-day moving average is $144.68 and the 200 day moving averge is recorded at $166.27.
Palo Alto Networks Inc(PANW) last announced its earnings results on Nov 23, 2015 for Fiscal Year 2016 and Q1.
Palo Alto forecast a third-quarter profit of 41-42 cents per share and revenue of $335 million-$339 million.
Revenue rose to $334.7 million from $217.7 million in the second quarter ended January 31.
This stock has been a momentum trader’s dream over the past two years.
Palo Alto Networks is off to a strong start in 2016, experiencing significant revenue growth in the second quarter of the year, thanks in part to the success of the company’s subscription services.
Other hedge funds and institutional investors have modified their holdings of the company. HighPoint Advisor Group LLC now owns 4,539 shares of the network technology company’s stock worth $674,000 after buying an additional 163 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its position in Palo Alto Networks by 36.7% in the fourth quarter.
On the ratings front, Palo Alto has been the subject of a number of recent research reports. Separately, on February 22, Barclays’ Saket Kalia maintained a Buy rating on the stock and has a price target of $170. Vetr raised Palo Alto Networks from a “buy” rating to a “strong-buy” rating and set a $145.13 target price on the stock in a report on Tuesday. Shares were Reiterated by RBC Capital Mkts on Feb 19, 2016 to “Outperform” and Lowered the Price Target to $ 185 from a previous price target of $205. According to the research note, FBR Capital Raises the price target to $235 per share from a prior target of $210.
Piper Jaffray reiterated an Overweight rating with a $208 price target.
Separately, TheStreet Ratings team rates the stock as a “sell” with a ratings score of D. Palo Alto Networks now has a consensus rating of “Buy” and a consensus target price of $190.63.
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Cyber-security stocks, such as FireEye Inc. On an adjusted basis, the advanced-firewall company would have earned 40 cents a share. The core of its platform is the Company’s firewall that delivers natively integrated application, user, and content visibility and control through its operating system, hardware, and software architecture.
