Brookwood Investment Group LLC Takes $1.36 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Brookwood Investment Group LLC purchased a new position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,944 shares of the network technology company's stock, valued at approximately $1,356,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PANW. Principle Wealth Partners LLC grew its stake in Palo Alto Networks by 1.8% during the first quarter. Principle Wealth Partners LLC now owns 26,144 shares of the network technology company's stock valued at $4,461,000 after acquiring an additional 470 shares in the last quarter. Journey Strategic Wealth LLC increased its holdings in shares of Palo Alto Networks by 280.1% in the first quarter. Journey Strategic Wealth LLC now owns 6,998 shares of the network technology company's stock worth $1,194,000 after purchasing an additional 5,157 shares during the last quarter. SFE Investment Counsel lifted its position in shares of Palo Alto Networks by 4.2% in the first quarter. SFE Investment Counsel now owns 72,925 shares of the network technology company's stock worth $12,444,000 after buying an additional 2,959 shares in the last quarter. Argonautica Private Wealth Management Inc. boosted its stake in Palo Alto Networks by 82.1% during the first quarter. Argonautica Private Wealth Management Inc. now owns 8,027 shares of the network technology company's stock valued at $1,370,000 after buying an additional 3,619 shares during the last quarter. Finally, Carnegie Investment Counsel grew its holdings in Palo Alto Networks by 12.8% during the 1st quarter. Carnegie Investment Counsel now owns 2,675 shares of the network technology company's stock valued at $456,000 after buying an additional 303 shares in the last quarter. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Stock Performance

PANW stock traded up $1.94 during trading on Thursday, reaching $201.16. The company had a trading volume of 2,883,962 shares, compared to its average volume of 4,407,045. The company has a market cap of $134.13 billion, a price-to-earnings ratio of 114.95, a price-to-earnings-growth ratio of 5.56 and a beta of 0.97. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The firm has a 50-day simple moving average of $196.14 and a 200-day simple moving average of $186.53.

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, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The business's revenue for the quarter was up 15.3% compared to the same quarter last year. Sell-side analysts expect 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 related news, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, July 1st. The stock was 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 owned 3,243,516 shares of the company's stock, valued at $644,356,888.56. The trade was a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Josh D. Paul sold 600 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $204.00, for a total value of $122,400.00. Following the completion of the sale, the chief accounting officer owned 41,433 shares in the company, valued at approximately $8,452,332. This represents a 1.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 569,248 shares of company stock worth $111,279,829. 2.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PANW. Stephens cut Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. KeyCorp reaffirmed an "overweight" rating and issued a $220.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. Roth Capital assumed coverage on Palo Alto Networks in a research report on Thursday, May 15th. They set a "neutral" rating and a $210.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 21st. Finally, TD Securities restated a "buy" rating and issued a $230.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $209.42.

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.