Simplicity Wealth LLC Purchases New Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Simplicity Wealth LLC acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,312 shares of the network technology company's stock, valued at approximately $224,000.

Several other large investors have also recently bought and sold shares of PANW. Strategic Investment Solutions Inc. IL grew its position in Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after purchasing an additional 55 shares during the period. JDM Financial Group LLC boosted its stake in shares of Palo Alto Networks by 22.4% during the 4th quarter. JDM Financial Group LLC now owns 322 shares of the network technology company's stock worth $59,000 after acquiring an additional 59 shares during the last quarter. Snider Financial Group boosted its stake in shares of Palo Alto Networks by 0.4% during the 1st quarter. Snider Financial Group now owns 17,729 shares of the network technology company's stock worth $3,025,000 after acquiring an additional 65 shares during the last quarter. Rakuten Securities Inc. boosted its stake in shares of Palo Alto Networks by 8.4% during the 4th quarter. Rakuten Securities Inc. now owns 906 shares of the network technology company's stock worth $165,000 after acquiring an additional 70 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of Palo Alto Networks by 16.9% during the 4th quarter. Quarry LP now owns 511 shares of the network technology company's stock worth $93,000 after acquiring an additional 74 shares during the last quarter. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Stock Up 1.3%

Shares of NASDAQ PANW traded up $2.48 during trading on Monday, hitting $198.75. 1,600,358 shares of the company traded hands, compared to its average volume of 5,469,511. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The company has a 50-day moving average price of $184.15 and a 200-day moving average price of $185.01. The firm has a market capitalization of $132.52 billion, a P/E ratio of 111.96, a P/E/G ratio of 5.64 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the business posted $0.66 EPS. The business's quarterly revenue was up 15.3% on a year-over-year basis. Research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PANW shares. Susquehanna boosted their price objective on Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a research note on Tuesday, February 18th. Morgan Stanley decreased their price target on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Citigroup upped their price objective on Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 21st. Finally, Rosenblatt Securities reissued a "buy" rating and set a $235.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $208.00.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total value of $16,541,000.00. Following the completion of the transaction, the executive vice president now owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. This represents a 2.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nikesh Arora sold 227,414 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the completion of the transaction, the chief executive officer now owns 317,571 shares of the company's stock, valued at approximately $54,854,038.83. This trade represents a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 789,736 shares of company stock worth $139,837,528 over the last quarter. 2.50% of the stock is owned by company insiders.

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.