Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by AGP Franklin LLC

Key Points

• AGP Franklin LLC boosted its stake in Palo Alto Networks, increasing its holdings by 16.9% to a total value of $2.59 million, making it the firm's 21st largest investment.
• Major institutional players, including Transce3nd LLC and Strategic Investment Solutions Inc., have recently established or increased their positions in Palo Alto Networks, demonstrating strong institutional interest in the company.
• Wall Street analysts have mixed opinions on Palo Alto Networks, with a consensus rating of "Moderate Buy" and an average price target of approximately $209.42 per share.

AGP Franklin LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 16.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,923 shares of the network technology company's stock after acquiring an additional 2,155 shares during the quarter. Palo Alto Networks comprises 1.6% of AGP Franklin LLC's investment portfolio, making the stock its 21st biggest position. AGP Franklin LLC's holdings in Palo Alto Networks were worth $2,590,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Transce3nd LLC acquired a new position in shares of Palo Alto Networks in the 4th quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL lifted its holdings in shares of 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 acquiring an additional 55 shares during the last quarter. Kiely Wealth Advisory Group Inc. lifted its holdings in shares of Palo Alto Networks by 100.0% in the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after acquiring an additional 75 shares during the last quarter. Anchor Investment Management LLC lifted its holdings in shares of Palo Alto Networks by 100.0% in the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after acquiring an additional 78 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in shares of Palo Alto Networks in the 4th quarter worth approximately $29,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PANW. HSBC upgraded shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective on the stock in a report on Thursday, April 10th. KeyCorp lowered shares of Palo Alto Networks from an "overweight" rating to a "sector weight" rating in a report on Thursday. Stephens lowered shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. Northland Securities cut their target price on shares of Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 21st. Finally, Barclays cut their target price on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $209.42.

Palo Alto Networks Trading Down 4.3%

Shares of NASDAQ PANW traded down $7.90 during mid-day trading on Thursday, reaching $175.13. The company had a trading volume of 21,022,026 shares, compared to its average volume of 5,764,755. The firm has a 50 day simple moving average of $196.57 and a two-hundred day simple moving average of $187.15. The stock has a market cap of $116.78 billion, a P/E ratio of 100.00, a PEG ratio of 5.41 and a beta of 0.97. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $210.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The firm 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%. Palo Alto Networks's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 EPS. On average, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Activity

In related news, Director Aparna Bawa sold 526 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $190.00, for a total transaction of $99,940.00. Following the completion of the sale, the director owned 8,632 shares in the company, valued at $1,640,080. This represents a 5.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Josh D. Paul sold 600 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $204.00, for a total transaction of $122,400.00. Following the sale, the chief accounting officer owned 41,433 shares of the company's stock, valued at approximately $8,452,332. This represents a 1.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 569,248 shares of company stock worth $111,279,829 over the last 90 days. 2.50% of the stock is owned by corporate insiders.

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.