Aurora Private Wealth Inc. Purchases New Shares in Palo Alto Networks, Inc. (NASDAQ:PANW)

Aurora Private Wealth Inc. bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,543 shares of the network technology company's stock, valued at approximately $1,970,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Transce3nd LLC purchased a new position in shares of Palo Alto Networks during the 4th quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL raised its holdings in Palo Alto Networks by 64.0% in the fourth 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 in the last quarter. Capital Advisors Ltd. LLC boosted its stake in 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 last quarter. Anchor Investment Management LLC boosted its stake in 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 last quarter. Finally, Kiely Wealth Advisory Group Inc. grew its holdings in 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 worth $29,000 after acquiring an additional 75 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Palo Alto Networks

In other news, CEO Nikesh Arora sold 227,414 shares of the firm'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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the completion of the transaction, the executive vice president now directly owns 101,135 shares in the company, valued at $20,414,099.75. This represents a 4.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 795,536 shares of company stock valued at $141,007,618. Corporate insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. TD Securities restated a "buy" rating and issued a $230.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Stephens lowered Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. 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 note on Thursday, April 10th. Rosenblatt Securities reaffirmed a "buy" rating and set a $235.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. lowered their price target on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $208.00.

Palo Alto Networks Stock Down 0.9%

Palo Alto Networks stock traded down $1.77 during trading hours on Friday, hitting $200.57. 5,339,865 shares of the company traded hands, compared to its average volume of 5,407,639. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39. The firm has a market cap of $133.74 billion, a P/E ratio of 114.61, a P/E/G ratio of 5.65 and a beta of 0.97. The firm's 50-day simple moving average is $190.70 and its two-hundred day simple moving average is $185.42.

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, beating analysts' consensus estimates 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 business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the business earned $0.66 earnings per share. The business's revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

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.