Fortem Financial Group LLC Buys Shares of 2,010 Palo Alto Networks, Inc. (NASDAQ:PANW)

Fortem Financial Group LLC acquired a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,010 shares of the network technology company's stock, valued at approximately $343,000.

Several other institutional investors have also modified their holdings of PANW. Transce3nd LLC bought a new stake in Palo Alto Networks in the 4th quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL lifted its stake in 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 acquiring an additional 55 shares in the last quarter. Anchor Investment Management LLC lifted its stake in 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 acquiring an additional 78 shares in the last quarter. Kiely Wealth Advisory Group Inc. lifted its stake in 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 acquiring an additional 75 shares in the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in Palo Alto Networks in the 4th quarter valued at approximately $29,000. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Stock Down 2.4%

Shares of NASDAQ:PANW traded down $4.68 during trading on Friday, reaching $187.39. 7,403,780 shares of the company traded hands, compared to its average volume of 5,419,524. The company's 50 day moving average is $195.04 and its two-hundred day moving average is $185.75. The firm has a market capitalization of $124.95 billion, a PE ratio of 107.08, a PEG ratio of 5.23 and a beta of 0.97. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week 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 for the quarter, topping the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the company 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, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PANW shares. Stephens cut Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Guggenheim reiterated a "sell" rating and set a $130.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. 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 note on Wednesday, April 16th. Sanford C. Bernstein set a $225.00 price objective on Palo Alto Networks and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. Finally, TD Securities reiterated a "buy" rating and set a $230.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. 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's stock. Based on data from MarketBeat, Palo Alto Networks currently has a consensus rating of "Moderate Buy" and an average target price of $208.00.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total transaction of $19,866,000.00. Following the completion of the sale, the executive vice president directly owned 3,243,516 shares in the company, valued at $644,356,888.56. This represents a 2.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Dipak Golechha sold 5,000 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $201.85, for a total value of $1,009,250.00. Following the sale, the executive vice president owned 101,135 shares of the company's stock, valued at approximately $20,414,099.75. This represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 569,248 shares of company stock worth $111,279,829 over the last quarter. 2.50% of the stock is currently owned by company 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.