Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Davidson Capital Management Inc.

Davidson Capital Management Inc. grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 33,902.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,001 shares of the network technology company's stock after purchasing an additional 16,951 shares during the quarter. Davidson Capital Management Inc.'s holdings in Palo Alto Networks were worth $2,901,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Transce3nd LLC bought a new stake in shares of Palo Alto Networks in the 4th quarter valued at about $25,000. Strategic Investment Solutions Inc. IL raised its holdings in shares of Palo Alto Networks by 64.0% in the 4th 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 in the last quarter. Kiely Wealth Advisory Group Inc. raised its holdings in shares of Palo Alto Networks by 100.0% in the 4th 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 in the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock valued at $28,000 after purchasing an additional 79 shares in the last quarter. Finally, Anchor Investment Management LLC raised its holdings in shares of Palo Alto Networks by 100.0% in the 4th 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 in the last quarter. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW traded down $0.54 during trading on Friday, hitting $199.24. 8,285,645 shares of the company were exchanged, compared to its average volume of 5,444,625. The stock has a market capitalization of $132.85 billion, a P/E ratio of 113.85, a PEG ratio of 5.56 and a beta of 0.97. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $208.39. The firm's 50 day moving average price is $187.43 and its 200-day moving average price is $185.31.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating 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 firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. Palo Alto Networks's revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analysts Forecast Growth

PANW has been the subject of several recent analyst reports. Truist Financial reduced their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Rosenblatt Securities reiterated a "buy" rating and set a $235.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, May 20th. HSBC upgraded shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective for the company in a research note on Thursday, April 10th. Roth Capital initiated coverage on shares of Palo Alto Networks in a research note on Thursday, May 15th. They set a "neutral" rating and a $210.00 price objective for the company. Finally, Stephens lowered shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat, Palo Alto Networks presently has an average rating of "Moderate Buy" and a consensus price target of $208.00.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $151.13, for a total value of $18,252,574.62. Following the transaction, the executive vice president now directly owns 321,774 shares of the company's stock, valued at approximately $48,629,704.62. The trade was a 27.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the business's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the transaction, the executive vice president now directly owns 3,543,516 shares in the company, valued at $586,132,981.56. This represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 789,736 shares of company stock worth $139,837,528 in the last 90 days. 2.50% of the stock is owned by insiders.

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.