Dynamic Advisor Solutions LLC Raises Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Dynamic Advisor Solutions LLC lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 5.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,609 shares of the network technology company's stock after purchasing an additional 1,688 shares during the period. Dynamic Advisor Solutions LLC's holdings in Palo Alto Networks were worth $5,394,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Uniting Wealth Partners LLC purchased a new stake in shares of Palo Alto Networks in the 4th quarter worth approximately $548,000. Rehmann Capital Advisory Group lifted its holdings in Palo Alto Networks by 106.4% during the fourth quarter. Rehmann Capital Advisory Group now owns 2,378 shares of the network technology company's stock worth $433,000 after buying an additional 1,226 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in Palo Alto Networks by 94.3% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company's stock worth $2,122,000 after buying an additional 5,658 shares during the period. Knights of Columbus Asset Advisors LLC boosted its position in Palo Alto Networks by 108.1% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 21,354 shares of the network technology company's stock valued at $3,886,000 after acquiring an additional 11,095 shares in the last quarter. Finally, National Pension Service increased its holdings in shares of Palo Alto Networks by 82.1% in the 4th quarter. National Pension Service now owns 1,345,740 shares of the network technology company's stock valued at $244,871,000 after acquiring an additional 606,778 shares during the period. Hedge funds and other institutional investors own 79.82% of the company's stock.

Insider Transactions at Palo Alto Networks

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

Palo Alto Networks Price Performance

Shares of PANW stock opened at $196.27 on Monday. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39. The company has a market cap of $130.87 billion, a price-to-earnings ratio of 110.58, a PEG ratio of 5.64 and a beta of 0.97. The stock has a 50 day simple moving average of $184.15 and a 200-day simple moving average of $185.01.

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 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The company had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. During the same period in the prior year, the business posted $0.66 earnings per share. The firm's revenue for the quarter was up 15.3% on a year-over-year basis. Analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Morgan Stanley dropped their price objective on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Susquehanna increased their price target on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a research report on Tuesday, February 18th. Barclays lowered their price target on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a report on Wednesday, May 21st. 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. Finally, Sanford C. Bernstein set a $225.00 price target on shares of Palo Alto Networks and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Two investment 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 company. Based on data from MarketBeat, Palo Alto Networks presently has an average rating of "Moderate Buy" and an average target price of $208.00.

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.

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