Private Wealth Partners LLC Raises Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Private Wealth Partners LLC grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 47.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,656 shares of the network technology company’s stock after buying an additional 530 shares during the period. Private Wealth Partners LLC’s holdings in Palo Alto Networks were worth $561,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Pathway Financial Advisers LLC bought a new stake in Palo Alto Networks during the first quarter valued at approximately $25,000. Frank Rimerman Advisors LLC bought a new stake in Palo Alto Networks during the fourth quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. grew its position in Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after buying an additional 96 shares during the period. Ulland Investment Advisors LLC bought a new stake in Palo Alto Networks during the first quarter valued at approximately $30,000. Finally, Central Bank & Trust Co. grew its position in Palo Alto Networks by 89.3% during the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after buying an additional 50 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other news, President William D. Jenkins, Jr. sold 1,475 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $339.12, for a total value of $500,202.00. Following the completion of the sale, the president now directly owns 19,026 shares in the company, valued at $6,452,097.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Nikesh Arora sold 66,668 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $336.54, for a total value of $22,436,448.72. Following the completion of the sale, the chief executive officer now directly owns 694,228 shares in the company, valued at $233,635,491.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President William D. Jenkins, Jr. sold 1,475 shares of the firm’s 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 sale, the president now owns 19,026 shares of the company’s stock, valued at $6,452,097.12. The disclosure for this sale can be found here. Insiders have sold a total of 464,075 shares of company stock valued at $154,029,567 over the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Argus upped their price target on shares of Palo Alto Networks from $336.00 to $348.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Wedbush reissued an “outperform” rating and issued a $375.00 target price on shares of Palo Alto Networks in a report on Friday, August 16th. Evercore ISI upped their price target on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Daiwa Capital Markets started coverage on shares of Palo Alto Networks in a research note on Wednesday, May 29th. They set an “outperform” rating and a $350.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $366.08.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $341.77 on Thursday. The company’s fifty day moving average price is $336.03 and its 200 day moving average price is $311.64. Palo Alto Networks, Inc. has a 1 year low of $224.64 and a 1 year high of $380.84. The company has a market capitalization of $110.67 billion, a PE ratio of 49.68, a price-to-earnings-growth ratio of 4.89 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. On average, equities analysts expect that Palo Alto Networks, Inc. will post 3.55 EPS for the current year.

Palo Alto Networks 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.