Alpha Cubed Investments LLC Has $81.92 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Alpha Cubed Investments LLC lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 480,092 shares of the network technology company's stock after buying an additional 12,628 shares during the period. Palo Alto Networks comprises 3.7% of Alpha Cubed Investments LLC's portfolio, making the stock its 6th largest holding. Alpha Cubed Investments LLC owned about 0.07% of Palo Alto Networks worth $81,923,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PANW. Strategic Investment Solutions Inc. IL raised its holdings in shares of Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Crew Capital Management Ltd. raised its holdings in shares of Palo Alto Networks by 2.5% during the first quarter. Crew Capital Management Ltd. now owns 2,310 shares of the network technology company's stock valued at $394,000 after purchasing an additional 57 shares during the last quarter. JDM Financial Group LLC raised its position in Palo Alto Networks by 22.4% in the fourth 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 period. WealthBridge Capital Management LLC raised its position in Palo Alto Networks by 2.0% in the first quarter. WealthBridge Capital Management LLC now owns 3,067 shares of the network technology company's stock worth $523,000 after acquiring an additional 61 shares during the period. Finally, Penobscot Investment Management Company Inc. raised its position in Palo Alto Networks by 0.3% in the first quarter. Penobscot Investment Management Company Inc. now owns 18,983 shares of the network technology company's stock worth $3,239,000 after acquiring an additional 63 shares during the period. Institutional investors own 79.82% of the company's stock.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $201.85, for a total value of $1,009,250.00. Following the completion of the sale, the executive vice president directly owned 101,135 shares of the company's stock, valued at $20,414,099.75. The trade was a 4.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $198.66, for a total transaction of $19,866,000.00. Following the completion of the sale, the executive vice president directly owned 3,243,516 shares of the company's stock, valued at approximately $644,356,888.56. This trade represents a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 669,248 shares of company stock worth $127,820,829 over the last 90 days. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Performance

Palo Alto Networks stock traded up $2.07 during trading hours on Wednesday, hitting $206.06. The company had a trading volume of 3,085,020 shares, compared to its average volume of 5,384,104. The firm has a market cap of $137.40 billion, a P/E ratio of 117.75, a P/E/G ratio of 5.69 and a beta of 0.97. 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 $194.93 and a two-hundred day moving average price of $185.76.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 EPS. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on PANW. Rosenblatt Securities reiterated a "buy" rating and issued a $235.00 price target on shares of Palo Alto Networks in a research report on Tuesday, May 20th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $223.00 price target on shares of Palo Alto Networks in a research report on Monday, May 19th. HSBC upgraded shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price target on the stock in a research report on Thursday, April 10th. 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 report on Wednesday, April 16th. Finally, Northland Securities decreased their price target on shares of Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock 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 issued a buy rating to the company. According to MarketBeat.com, Palo Alto Networks currently has a consensus rating of "Moderate Buy" and an average target price of $208.00.

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.