Boston Family Office LLC Has $18.20 Million Position in Palo Alto Networks, Inc. $PANW

Key Points

• Boston Family Office LLC has increased its stake in Palo Alto Networks by 4.0%, owning 106,661 shares valued at approximately $18.2 million as of the end of the most recent reporting period.
• Palo Alto Networks reported an earnings per share (EPS) of $0.80 for its latest quarter, beating analysts' expectations, with revenues of $2.29 billion, marking a 15.3% increase year-over-year.
• Institutional investors currently own 79.82% of Palo Alto Networks, with overall analyst consensus rating being a "Moderate Buy" and a target price of $217.01.

Boston Family Office LLC increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,661 shares of the network technology company's stock after buying an additional 4,115 shares during the quarter. Palo Alto Networks accounts for approximately 1.3% of Boston Family Office LLC's holdings, making the stock its 27th biggest holding. Boston Family Office LLC's holdings in Palo Alto Networks were worth $18,201,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Rehmann Capital Advisory Group lifted its stake in shares of Palo Alto Networks by 106.4% in the 4th quarter. Rehmann Capital Advisory Group now owns 2,378 shares of the network technology company's stock worth $433,000 after purchasing an additional 1,226 shares during the period. GAMMA Investing LLC lifted its position in shares of Palo Alto Networks by 10.8% in the first quarter. GAMMA Investing LLC now owns 14,125 shares of the network technology company's stock worth $2,410,000 after buying an additional 1,374 shares in the last quarter. Diligent Investors LLC boosted its position in shares of Palo Alto Networks by 100.0% during the 4th quarter. Diligent Investors LLC now owns 3,430 shares of the network technology company's stock valued at $624,000 after acquiring an additional 1,715 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Palo Alto Networks by 8.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 137,663 shares of the network technology company's stock worth $23,491,000 after buying an additional 10,180 shares during the last quarter. Finally, Shorepoint Capital Partners LLC lifted its stake in shares of Palo Alto Networks by 108.4% in the 4th quarter. Shorepoint Capital Partners LLC now owns 20,898 shares of the network technology company's stock valued at $3,803,000 after purchasing an additional 10,868 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wells Fargo & Company increased their target price on Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Guggenheim restated a "sell" rating and issued a $130.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. JPMorgan Chase & Co. decreased 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 research report on Wednesday, May 21st. KeyCorp cut shares of Palo Alto Networks from an "overweight" rating to a "sector weight" rating in a research note on Thursday, July 31st. Finally, Roth Capital started coverage on Palo Alto Networks in a report on Thursday, May 15th. They issued a "neutral" rating and a $210.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $217.79.

Palo Alto Networks Stock Up 2.0%

Palo Alto Networks stock traded up $3.54 during mid-day trading on Friday, reaching $177.09. 9,535,538 shares of the company's stock were exchanged, compared to its average volume of 11,547,861. Palo Alto Networks, Inc. has a one year low of $144.15 and a one year high of $210.39. The business's fifty day simple moving average is $192.00 and its 200 day simple moving average is $186.41. The firm has a market capitalization of $118.08 billion, a PE ratio of 101.19, a P/E/G ratio of 4.35 and a beta of 0.94.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted 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. The company had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The firm's revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 EPS. On average, sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $171.58, for a total transaction of $20,722,402.92. Following the transaction, the executive vice president directly owned 206,718 shares of the company's stock, valued at approximately $35,468,674.44. This trade represents a 36.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the business's stock in a transaction 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 sale, the executive vice president owned 101,135 shares in the company, valued at $20,414,099.75. The trade was a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 669,248 shares of company stock valued at $126,423,337. Corporate 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.