Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Strategic Advisors LLC

Strategic Advisors LLC decreased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,201 shares of the network technology company’s stock after selling 60 shares during the period. Strategic Advisors LLC’s holdings in Palo Alto Networks were worth $341,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Maryland State Retirement & Pension System raised its holdings in shares of Palo Alto Networks by 2.1% during the 1st quarter. Maryland State Retirement & Pension System now owns 23,967 shares of the network technology company’s stock worth $6,615,000 after acquiring an additional 504 shares during the period. Horizon Bancorp Inc. IN raised its stake in Palo Alto Networks by 51.1% during the first quarter. Horizon Bancorp Inc. IN now owns 532 shares of the network technology company’s stock worth $151,000 after purchasing an additional 180 shares during the period. Teamwork Financial Advisors LLC acquired a new position in Palo Alto Networks in the 1st quarter valued at about $7,193,000. Veracity Capital LLC grew its stake in shares of Palo Alto Networks by 15.8% in the 1st quarter. Veracity Capital LLC now owns 1,101 shares of the network technology company’s stock valued at $313,000 after buying an additional 150 shares during the period. Finally, Tran Capital Management L.P. increased its holdings in shares of Palo Alto Networks by 59.5% during the 1st quarter. Tran Capital Management L.P. now owns 132,965 shares of the network technology company’s stock worth $37,779,000 after buying an additional 49,601 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Up 0.7 %

Shares of Palo Alto Networks stock traded up $2.37 during trading on Friday, hitting $343.57. 538,378 shares of the company were exchanged, compared to its average volume of 4,741,544. Palo Alto Networks, Inc. has a fifty-two week low of $201.17 and a fifty-two week high of $380.84. The firm has a 50 day moving average price of $311.18 and a 200 day moving average price of $308.09. The stock has a market capitalization of $111.25 billion, a price-to-earnings ratio of 49.59, a P/E/G ratio of 5.23 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share. Analysts predict that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $339.16, for a total transaction of $12,209,760.00. Following the completion of the sale, the executive vice president now directly owns 1,223,567 shares in the company, valued at $414,984,983.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, President William D. Jenkins, Jr. sold 1,475 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the transaction, the president now directly owns 19,026 shares in the company, valued at $6,452,097.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $339.16, for a total value of $12,209,760.00. Following the completion of the sale, the executive vice president now directly owns 1,223,567 shares in the company, valued at $414,984,983.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 302,525 shares of company stock worth $93,982,207. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

PANW has been the topic of a number of recent analyst reports. DA Davidson initiated coverage on Palo Alto Networks in a report on Friday, June 21st. They issued a “buy” rating and a $380.00 price objective on the stock. Royal Bank of Canada lowered their price target on Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating for the company in a report on Tuesday, May 21st. Daiwa Capital Markets began coverage on Palo Alto Networks in a research report on Wednesday, May 29th. They set an “outperform” rating and a $350.00 price objective for the company. Macquarie increased their target price on shares of Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Finally, Wedbush reiterated an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Twelve equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.29.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.