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

Other equities research analysts have also issued reports about the stock. Wunderlich reaffirmed a buy rating and issued a $190.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, September 13th. Deutsche Bank AG reaffirmed a hold rating on shares of Palo Alto Networks in a research note on Saturday, October 15th. Pacific Crest reaffirmed an overweight rating and issued a $190.00 price objective on shares of Palo Alto Networks in a research note on Monday, August 29th. Cleveland Research lowered shares of Palo Alto Networks from a buy rating to a neutral rating in a research note on Wednesday, August 10th. Finally, BTIG Research reaffirmed a buy rating and issued a $210.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, August 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Palo Alto Networks currently has an average rating of Buy and an average price target of $180.06.

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

Palo Alto Networks (NYSE:PANW) last posted its earnings results on Monday, November 21st. The network technology company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. Palo Alto Networks had a negative net margin of 16.83% and a negative return on equity of 35.75%. The firm had revenue of $398.10 million for the quarter, compared to analyst estimates of $400.20 million. During the same period in the previous year, the firm posted $0.35 EPS. The company’s revenue for the quarter was up 34.0% compared to the same quarter last year. Equities analysts expect that Palo Alto Networks will post $2.78 EPS for the current year.

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In related news, CFO Steffan Tomlinson sold 2,332 shares of Palo Alto Networks stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $148.98, for a total value of $347,421.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark D. Mclaughlin sold 26,423 shares of Palo Alto Networks stock in a transaction on 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 completion of the sale, the chief executive officer now owns 540,880 shares in the company, 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.

A number of hedge funds have recently added to or reduced their stakes in PANW. Panagora Asset Management Inc. boosted its stake in Palo Alto Networks by 23.4% in the first quarter. Panagora Asset Management Inc. now owns 59,045 shares of the network technology company’s stock valued at $9,633,000 after buying an additional 11,195 shares during the period. Integrated Investment Consultants LLC boosted its stake in Palo Alto Networks by 6.7% in the second quarter. Integrated Investment Consultants LLC now owns 1,040 shares of the network technology company’s stock valued at $128,000 after buying an additional 65 shares during the period. New England Research & Management Inc. boosted its stake in Palo Alto Networks by 17.2% in the second quarter. New England Research & Management Inc. now owns 4,254 shares of the network technology company’s stock valued at $522,000 after buying an additional 625 shares during the period. Raymond James Trust N.A. boosted its stake in Palo Alto Networks by 4.2% in the second quarter. Raymond James Trust N.A. now owns 2,732 shares of the network technology company’s stock valued at $335,000 after buying an additional 110 shares during the period. Finally, Newman Dignan & Sheerar Inc. boosted its stake in Palo Alto Networks by 1.3% in the second quarter. Newman Dignan & Sheerar Inc. now owns 2,000 shares of the network technology company’s stock valued at $245,000 after buying an additional 25 shares during the period. 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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