Palo Alto Networks (NYSE:PANW) was upgraded by stock analysts at OTR Global to a “positive” rating in a research report issued on Friday, The Fly reports.
Several other research analysts have also recently weighed in on PANW. BidaskClub cut shares of Palo Alto Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Zacks Investment Research cut shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Piper Jaffray Companies set a $155.00 price objective on shares of Palo Alto Networks and gave the stock a “buy” rating in a research report on Sunday, November 12th. Oppenheimer restated a “buy” rating and issued a $173.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, November 14th. Finally, Evercore ISI set a $145.00 price objective on shares of Palo Alto Networks and gave the stock a “hold” rating in a research report on Thursday, November 16th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and thirty-four have given a buy rating to the stock. Palo Alto Networks presently has a consensus rating of “Buy” and an average price target of $167.39.
Palo Alto Networks (PANW) opened at $162.08 on Friday. Palo Alto Networks has a 1 year low of $107.31 and a 1 year high of $163.88.
In related news, President Mark Anderson sold 15,614 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $144.16, for a total value of $2,250,914.24. Following the completion of the transaction, the president now directly owns 186,413 shares of the company’s stock, valued at approximately $26,873,298.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nir Zuk sold 2,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $144.28, for a total transaction of $288,560.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 396,644 shares of company stock valued at $59,381,588. Company insiders own 4.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in PANW. Dimensional Fund Advisors LP boosted its stake in Palo Alto Networks by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 89,249 shares of the network technology company’s stock worth $11,943,000 after purchasing an additional 740 shares during the period. Shelton Capital Management acquired a new position in Palo Alto Networks in the 2nd quarter worth $201,000. The Manufacturers Life Insurance Company boosted its stake in Palo Alto Networks by 9.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,491 shares of the network technology company’s stock worth $467,000 after purchasing an additional 305 shares during the period. Norway Savings Bank acquired a new position in Palo Alto Networks in the 3rd quarter worth $230,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in Palo Alto Networks in the 3rd quarter worth $391,000. 79.18% of the stock is owned by hedge funds and other institutional investors.
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About Palo Alto Networks
Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its 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.
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