Good Life Advisors LLC Acquires 12,211 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Good Life Advisors LLC increased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 1,046.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,378 shares of the network technology company's stock after purchasing an additional 12,211 shares during the period. Good Life Advisors LLC's holdings in Palo Alto Networks were worth $2,283,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Palo Alto Networks by 104.4% in the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock worth $11,142,122,000 after purchasing an additional 31,281,359 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Palo Alto Networks by 87.8% in the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock worth $2,611,013,000 after purchasing an additional 6,725,148 shares in the last quarter. Capital Research Global Investors boosted its holdings in Palo Alto Networks by 83.8% in the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock worth $1,533,419,000 after purchasing an additional 3,841,359 shares in the last quarter. Northern Trust Corp boosted its holdings in Palo Alto Networks by 133.7% in the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock worth $1,427,048,000 after purchasing an additional 4,486,654 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Palo Alto Networks by 17.6% in the fourth quarter. Ameriprise Financial Inc. now owns 7,277,739 shares of the network technology company's stock worth $1,324,387,000 after purchasing an additional 1,088,631 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Trading Down 0.7%

Shares of Palo Alto Networks stock opened at $196.27 on Monday. The stock has a market capitalization of $130.87 billion, a price-to-earnings ratio of 110.58, a P/E/G ratio of 5.64 and a beta of 0.97. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39. The firm's 50-day moving average price is $184.15 and its two-hundred day moving average price is $185.01.

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 14.64% and a return on equity of 21.93%. The business had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.28 billion. During the same period in the prior year, the firm earned $0.66 earnings per share. Palo Alto Networks's revenue was up 15.3% compared to the same quarter last year. As a group, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $195.14, for a total transaction of $23,567,838.36. Following the completion of the sale, the executive vice president now owns 264,246 shares of the company's stock, valued at approximately $51,564,964.44. The trade was a 31.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $193.36, for a total transaction of $19,336,000.00. Following the sale, the executive vice president now directly owns 3,343,516 shares of the company's stock, valued at $646,502,253.76. This represents a 2.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 789,736 shares of company stock valued at $139,837,528. Company insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

PANW has been the subject of a number of research analyst reports. Morgan Stanley cut their target price on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Stephens lowered shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. KeyCorp reissued an "overweight" rating and set a $220.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Barclays cut their target price on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. Finally, Hsbc Global Res raised shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target 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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