Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Burns J W & Co. Inc. NY

Burns J W & Co. Inc. NY increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,163 shares of the network technology company's stock after acquiring an additional 1,735 shares during the quarter. Burns J W & Co. Inc. NY's holdings in Palo Alto Networks were worth $5,659,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PANW. Private Client Services LLC acquired a new stake in shares of Palo Alto Networks in the first quarter worth $209,000. Parallel Advisors LLC increased its stake in shares of Palo Alto Networks by 4.0% in the first quarter. Parallel Advisors LLC now owns 54,684 shares of the network technology company's stock worth $9,331,000 after acquiring an additional 2,115 shares during the period. First County Bank CT increased its stake in shares of Palo Alto Networks by 74.9% in the first quarter. First County Bank CT now owns 9,632 shares of the network technology company's stock worth $1,644,000 after acquiring an additional 4,125 shares during the period. GAMMA Investing LLC increased its holdings in Palo Alto Networks by 18,802.8% in the first quarter. GAMMA Investing LLC now owns 2,410,290 shares of the network technology company's stock valued at $411,292,000 after buying an additional 2,397,539 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its holdings in Palo Alto Networks by 45.5% in the first quarter. AdvisorNet Financial Inc now owns 1,353 shares of the network technology company's stock valued at $231,000 after buying an additional 423 shares in the last quarter. Institutional investors own 79.82% of the company's stock.

Analyst Ratings Changes

PANW has been the subject of a number of recent analyst reports. Morgan Stanley cut their price objective on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Susquehanna lifted their price objective on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a report on Tuesday, February 18th. UBS Group lifted their price objective on shares of Palo Alto Networks from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Northland Securities cut their price objective 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. Finally, Hsbc Global Res raised shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat, Palo Alto Networks has an average rating of "Moderate Buy" and an average price target of $208.00.

Palo Alto Networks Price Performance

PANW traded up $2.44 during trading hours on Monday, reaching $194.86. The company's stock had a trading volume of 4,407,854 shares, compared to its average volume of 5,554,360. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39. The stock has a market cap of $129.93 billion, a PE ratio of 109.78, a P/E/G ratio of 5.64 and a beta of 1.02. The business's 50-day moving average is $178.31 and its 200-day moving average is $184.87.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released 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 return on equity of 21.93% and a net margin of 14.64%. 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 prior year, the firm posted $0.66 earnings per share. The firm's quarterly revenue was up 15.3% on a year-over-year basis. Analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $189.27, for a total transaction of $22,858,894.98. Following the transaction, the executive vice president now directly owns 293,010 shares in the company, valued at $55,458,002.70. This represents a 29.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nikesh Arora sold 227,414 shares of the stock in a transaction on 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 in the company, valued at approximately $54,854,038.83. The trade was a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 568,962 shares of company stock worth $96,933,690 over the last ninety days. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Company 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.