Forbes J M & Co. LLP Has $6.35 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Forbes J M & Co. LLP boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 4.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,203 shares of the network technology company's stock after acquiring an additional 1,583 shares during the quarter. Forbes J M & Co. LLP's holdings in Palo Alto Networks were worth $6,348,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Transce3nd LLC bought a new stake in shares of Palo Alto Networks during the fourth quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL raised its holdings in 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 worth $26,000 after purchasing an additional 55 shares during the period. Kiely Wealth Advisory Group Inc. raised its holdings in shares of Palo Alto Networks by 100.0% during the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after acquiring an additional 75 shares during the period. Anchor Investment Management LLC raised its holdings in shares of Palo Alto Networks by 100.0% during the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after acquiring an additional 78 shares during the period. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Palo Alto Networks during the fourth quarter worth $29,000. Institutional investors own 79.82% of the company's stock.

Analyst Upgrades and Downgrades

PANW has been the topic of several recent analyst reports. Cantor Fitzgerald restated an "overweight" rating and set a $223.00 price objective on shares of Palo Alto Networks in a research note on Monday, May 19th. 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. JPMorgan Chase & Co. cut their price objective on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a report on Wednesday, May 21st. Rosenblatt Securities reaffirmed a "buy" rating and set a $235.00 price target on shares of Palo Alto Networks in a report on Tuesday, May 20th. Finally, Northland Securities lowered 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 research report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-seven have given a buy rating to the company's stock. According to MarketBeat.com, Palo Alto Networks presently has an average rating of "Moderate Buy" and a consensus target price of $209.16.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $198.66, for a total value of $19,866,000.00. Following the sale, the executive vice president directly owned 3,243,516 shares of the company's stock, valued at $644,356,888.56. This represents a 2.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Josh D. Paul sold 800 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $201.05, for a total transaction of $160,840.00. Following the completion of the sale, the chief accounting officer directly owned 42,033 shares in the company, valued at $8,450,734.65. This represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 569,248 shares of company stock worth $111,279,829. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock opened at $196.73 on Wednesday. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The firm has a market cap of $131.18 billion, a PE ratio of 112.42, a PEG ratio of 5.58 and a beta of 0.97. The company has a 50 day simple moving average of $195.58 and a two-hundred day simple moving average of $186.10.

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 for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The business's quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 EPS. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

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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