2,810 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Purchased by Canton Hathaway LLC

Canton Hathaway LLC acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,810 shares of the network technology company's stock, valued at approximately $479,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Transce3nd LLC acquired a new stake in shares of Palo Alto Networks during the 4th quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL lifted its position 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 valued at $26,000 after acquiring an additional 55 shares during the period. Capital Advisors Ltd. LLC lifted its position in shares of Palo Alto Networks by 102.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock valued at $28,000 after acquiring an additional 79 shares during the period. Anchor Investment Management LLC lifted its position in shares of Palo Alto Networks by 100.0% during the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock valued at $28,000 after acquiring an additional 78 shares during the period. Finally, Kiely Wealth Advisory Group Inc. lifted its position in shares of Palo Alto Networks by 100.0% during the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock valued at $29,000 after acquiring an additional 75 shares during the period. Hedge funds and other institutional investors own 79.82% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Rosenblatt Securities restated a "buy" rating and set a $235.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, May 20th. Citigroup lifted their price objective on Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Cantor Fitzgerald restated an "overweight" rating and set a $223.00 price objective on shares of Palo Alto Networks in a research report on Monday, May 19th. Roth Capital assumed coverage on Palo Alto Networks in a research report on Thursday, May 15th. They set a "neutral" rating and a $210.00 price objective for the company. Finally, HSBC upgraded Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective for the company in a research report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $208.00.

Palo Alto Networks Trading Down 0.3%

NASDAQ:PANW traded down $0.54 on Friday, reaching $199.24. The stock had a trading volume of 8,285,645 shares, compared to its average volume of 5,444,625. The company has a 50-day moving average of $187.43 and a 200 day moving average of $185.20. The stock has a market cap of $132.85 billion, a P/E ratio of 113.85, a price-to-earnings-growth ratio of 5.56 and a beta of 0.97. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. The company had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The firm's revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 EPS. On average, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Activity

In other 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 sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 227,414 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the completion of the sale, the chief executive officer now owns 317,571 shares in the company, 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. In the last 90 days, insiders have sold 789,736 shares of company stock worth $139,837,528. 2.50% of the stock is currently owned by corporate insiders.

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.