Bond & Devick Financial Network Inc. Has $598,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Bond & Devick Financial Network Inc. lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 96.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,504 shares of the network technology company's stock after purchasing an additional 1,721 shares during the period. Bond & Devick Financial Network Inc.'s holdings in Palo Alto Networks were worth $598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Palo Alto Networks by 104.4% during the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock worth $11,142,122,000 after buying an additional 31,281,359 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Palo Alto Networks by 87.8% during the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock worth $2,611,013,000 after buying an additional 6,725,148 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Palo Alto Networks by 83.8% during the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock worth $1,533,419,000 after buying an additional 3,841,359 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Palo Alto Networks by 133.7% during the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock worth $1,427,048,000 after buying an additional 4,486,654 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Palo Alto Networks by 17.6% during the fourth quarter. Ameriprise Financial Inc. now owns 7,277,739 shares of the network technology company's stock worth $1,324,387,000 after buying an additional 1,088,631 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Up 1.9%

PANW traded up $3.66 during trading on Thursday, hitting $197.73. The company had a trading volume of 1,694,291 shares, compared to its average volume of 5,531,808. The company has a market capitalization of $131.85 billion, a PE ratio of 111.40, a PEG ratio of 5.64 and a beta of 1.02. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39. The firm's 50-day moving average price is $179.38 and its 200 day moving average price is $185.03.

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 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.28 billion. During the same period in the previous year, the firm posted $0.66 EPS. The company's revenue for the quarter was up 15.3% on a year-over-year basis. Sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PANW shares. Northland Securities dropped their target price on shares of Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating for the company in a report on Wednesday, May 21st. Jefferies Financial Group upped their price objective on shares of Palo Alto Networks from $215.00 to $225.00 and gave the company a "buy" rating in a report on Friday, May 16th. Stephens lowered shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. dropped their price objective on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a report on Wednesday, May 21st. Finally, Citigroup upped their price objective on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Two research 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $208.00.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 227,414 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total value of $39,281,220.22. Following the completion of the sale, the chief executive officer now owns 317,571 shares of the company's stock, valued at $54,854,038.83. The trade was a 41.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $193.36, for a total transaction of $19,336,000.00. Following the completion of the sale, the executive vice president now directly owns 3,343,516 shares of the company's stock, valued at $646,502,253.76. This represents a 2.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 668,962 shares of company stock worth $116,269,690. Insiders own 2.50% of the company's stock.

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.