Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,193 shares of the network technology company's stock after purchasing an additional 1,573 shares during the quarter. Global Wealth Management Investment Advisory Inc.'s holdings in Palo Alto Networks were worth $2,763,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Transce3nd LLC bought a new position in Palo Alto Networks during the 4th quarter worth about $25,000. Strategic Investment Solutions Inc. IL lifted its position 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 worth $26,000 after purchasing an additional 55 shares during the period. Kiely Wealth Advisory Group Inc. boosted its stake 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 valued at $29,000 after purchasing an additional 75 shares in the last quarter. Anchor Investment Management LLC increased its holdings in 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 valued at $28,000 after buying an additional 78 shares during the period. Finally, Capital A Wealth Management LLC purchased a new position in Palo Alto Networks during the fourth quarter valued at approximately $29,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $193.36, for a total value of $19,336,000.00. Following the sale, the executive vice president owned 3,343,516 shares of the company's stock, valued at approximately $646,502,253.76. The trade was a 2.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 800 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $201.05, for a total value of $160,840.00. Following the transaction, the chief accounting officer owned 42,033 shares in the company, valued at $8,450,734.65. The trade was a 1.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 668,722 shares of company stock valued at $121,714,798. 2.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Jefferies Financial Group increased their target price on Palo Alto Networks from $215.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Hsbc Global Res raised Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 10th. Rosenblatt Securities reiterated a "buy" rating and issued a $235.00 target price on shares of Palo Alto Networks in a research note on Tuesday, May 20th. Wells Fargo & Company increased their price target on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Finally, KeyCorp restated an "overweight" rating and issued a $220.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $208.00.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW traded up $4.53 on Friday, reaching $201.50. The company's stock had a trading volume of 2,561,725 shares, compared to its average volume of 5,398,532. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $208.39. The stock has a market capitalization of $134.36 billion, a P/E ratio of 115.14, a PEG ratio of 5.63 and a beta of 0.97. The stock's 50-day moving average is $193.35 and its two-hundred day moving average is $185.44.

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 EPS for the quarter, beating 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 firm 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 business earned $0.66 EPS. The firm's revenue was up 15.3% compared to the same quarter last year. Equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

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.