Bensler LLC Boosts Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Bensler LLC lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 15.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,822 shares of the network technology company's stock after purchasing an additional 7,654 shares during the period. Bensler LLC's holdings in Palo Alto Networks were worth $9,867,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Smithbridge Asset Management Inc. DE bought a new position in shares of Palo Alto Networks during the first quarter valued at about $7,282,000. RMR Wealth Builders lifted its position in shares of Palo Alto Networks by 1.9% during the first quarter. RMR Wealth Builders now owns 4,246 shares of the network technology company's stock valued at $725,000 after purchasing an additional 78 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its position in shares of Palo Alto Networks by 4.3% during the first quarter. NorthCrest Asset Manangement LLC now owns 49,075 shares of the network technology company's stock valued at $8,374,000 after purchasing an additional 2,026 shares in the last quarter. Sky Investment Group LLC lifted its position in shares of Palo Alto Networks by 1.0% during the first quarter. Sky Investment Group LLC now owns 10,320 shares of the network technology company's stock valued at $1,761,000 after purchasing an additional 100 shares in the last quarter. Finally, Liberty Capital Management Inc. lifted its position in shares of Palo Alto Networks by 1.8% during the first quarter. Liberty Capital Management Inc. now owns 14,496 shares of the network technology company's stock valued at $2,474,000 after purchasing an additional 262 shares in the last quarter. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Price Performance

PANW stock traded down $1.40 during trading on Friday, hitting $196.27. 3,815,861 shares of the stock traded hands, compared to its average volume of 5,482,749. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The firm's 50 day moving average is $183.28 and its two-hundred day moving average is $185.12. The stock has a market cap of $130.87 billion, a price-to-earnings ratio of 110.58, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the business posted $0.66 earnings per share. The business's revenue for the quarter was up 15.3% on a year-over-year basis. As a group, analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on PANW shares. Barclays lowered their price objective on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 21st. HSBC raised 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 research report on Thursday, April 10th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $223.00 price objective on shares of Palo Alto Networks in a research report on Monday, May 19th. Morgan Stanley lowered their price objective 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, Sanford C. Bernstein set a $225.00 price objective on shares of Palo Alto Networks and gave the stock an "outperform" rating in a research report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $208.00.

Insider Transactions at Palo Alto Networks

In related news, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $193.36, for a total value of $19,336,000.00. Following the transaction, the executive vice president now owns 3,343,516 shares of the company's stock, valued at approximately $646,502,253.76. This trade represents a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the completion of the transaction, the executive vice president now directly owns 321,774 shares in the company, valued at approximately $48,629,704.62. The trade was a 27.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 789,736 shares of company stock worth $139,837,528 over the last three months. 2.50% of the stock is currently owned by company 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.