Dakota Wealth Management Buys 1,697 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Dakota Wealth Management grew its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,630 shares of the network technology company's stock after buying an additional 1,697 shares during the quarter. Dakota Wealth Management's holdings in Palo Alto Networks were worth $6,762,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PANW. Transce3nd LLC purchased a new stake in Palo Alto Networks during the fourth quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL boosted its stake in shares of Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after purchasing an additional 55 shares during the period. Anchor Investment Management LLC boosted its stake in shares of Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock valued at $28,000 after purchasing an additional 78 shares during the period. Kiely Wealth Advisory Group Inc. boosted its stake in shares of Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock valued at $29,000 after purchasing an additional 75 shares during the period. Finally, Capital A Wealth Management LLC purchased a new position in shares of Palo Alto Networks in the fourth quarter valued at $29,000. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $198.66, for a total transaction of $19,866,000.00. Following the sale, the executive vice president owned 3,243,516 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Josh D. Paul sold 600 shares of Palo Alto Networks stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $204.00, for a total transaction of $122,400.00. Following the sale, the chief accounting officer owned 41,433 shares in the company, valued at $8,452,332. This represents a 1.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 569,248 shares of company stock valued at $111,279,829 in the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock traded up $3.77 during midday trading on Thursday, hitting $196.36. The company had a trading volume of 2,121,121 shares, compared to its average volume of 5,400,606. The business's 50 day simple moving average is $195.25 and its two-hundred day simple moving average is $185.85. The stock has a market cap of $130.93 billion, a PE ratio of 112.10, a P/E/G ratio of 5.37 and a beta of 0.97. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. Palo Alto Networks's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the company posted $0.66 earnings per share. On average, sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Guggenheim restated a "sell" rating and issued a $130.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. 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. Truist Financial cut their price target on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a report on Monday, March 31st. 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. Finally, JPMorgan Chase & Co. cut their price target on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat, Palo Alto Networks currently has a consensus rating of "Moderate Buy" and an average price target of $208.00.

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.