Investment Partners LTD. Takes $280,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Investment Partners LTD. purchased a new position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,643 shares of the network technology company's stock, valued at approximately $280,000.

Other large investors also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL raised its holdings in shares of Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Crew Capital Management Ltd. increased its position in Palo Alto Networks by 2.5% in the first quarter. Crew Capital Management Ltd. now owns 2,310 shares of the network technology company's stock worth $394,000 after purchasing an additional 57 shares during the last quarter. JDM Financial Group LLC raised its stake in Palo Alto Networks by 22.4% during the fourth quarter. JDM Financial Group LLC now owns 322 shares of the network technology company's stock valued at $59,000 after purchasing an additional 59 shares in the last quarter. WealthBridge Capital Management LLC lifted its position in Palo Alto Networks by 2.0% during the first quarter. WealthBridge Capital Management LLC now owns 3,067 shares of the network technology company's stock valued at $523,000 after purchasing an additional 61 shares during the last quarter. Finally, Penobscot Investment Management Company Inc. grew its stake in shares of Palo Alto Networks by 0.3% in the 1st quarter. Penobscot Investment Management Company Inc. now owns 18,983 shares of the network technology company's stock worth $3,239,000 after buying an additional 63 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PANW. Wells Fargo & Company upped their target price on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. HSBC upgraded Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective on the stock in a research report on Thursday, April 10th. Truist Financial dropped their target price on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a report on Monday, March 31st. Guggenheim restated a "sell" rating and set a $130.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. Finally, TD Securities restated a "buy" rating and issued a $230.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $208.00.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total value of $19,866,000.00. Following the completion of the sale, the executive vice president directly owned 3,243,516 shares in the company, valued at approximately $644,356,888.56. This trade represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $200.86, for a total transaction of $24,258,665.64. Following the transaction, the executive vice president owned 235,482 shares in the company, valued at approximately $47,298,914.52. This trade represents a 33.90% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 569,248 shares of company stock worth $111,279,829. 2.50% of the stock is currently owned by corporate insiders.

Palo Alto Networks Price Performance

Palo Alto Networks stock traded down $4.68 during trading hours on Friday, reaching $187.39. The stock had a trading volume of 7,403,780 shares, compared to its average volume of 5,412,169. The company has a market cap of $124.95 billion, a price-to-earnings ratio of 107.08, a PEG ratio of 5.36 and a beta of 0.97. The business's 50 day moving average price is $195.04 and its 200-day moving average price is $185.78. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the business posted $0.66 EPS. Palo Alto Networks's revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

About Palo Alto Networks

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.