Harbour Capital Advisors LLC Purchases 2,392 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Harbour Capital Advisors LLC raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 23.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,395 shares of the network technology company's stock after acquiring an additional 2,392 shares during the period. Harbour Capital Advisors LLC's holdings in Palo Alto Networks were worth $2,047,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PANW. Community Financial Services Group LLC raised its position in Palo Alto Networks by 2.7% in the first quarter. Community Financial Services Group LLC now owns 44,432 shares of the network technology company's stock valued at $7,582,000 after purchasing an additional 1,174 shares during the period. Chevy Chase Trust Holdings LLC lifted its position in Palo Alto Networks by 1.1% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 348,282 shares of the network technology company's stock worth $59,431,000 after acquiring an additional 3,776 shares in the last quarter. St. Johns Investment Management Company LLC boosted its holdings in Palo Alto Networks by 808.5% in the 1st quarter. St. Johns Investment Management Company LLC now owns 3,543 shares of the network technology company's stock worth $605,000 after acquiring an additional 3,153 shares during the period. Petros Family Wealth LLC raised its stake in shares of Palo Alto Networks by 17.1% during the first quarter. Petros Family Wealth LLC now owns 3,734 shares of the network technology company's stock valued at $637,000 after purchasing an additional 544 shares during the period. Finally, YHB Investment Advisors Inc. lifted its position in shares of Palo Alto Networks by 5.7% during the first quarter. YHB Investment Advisors Inc. now owns 41,535 shares of the network technology company's stock worth $7,088,000 after purchasing an additional 2,223 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

Shares of PANW traded down $1.63 during trading hours on Tuesday, hitting $201.69. The stock had a trading volume of 4,947,392 shares, compared to its average volume of 5,438,797. The stock has a market capitalization of $134.49 billion, a price-to-earnings ratio of 115.25, a P/E/G ratio of 5.56 and a beta of 0.97. The company's fifty day moving average is $188.10 and its two-hundred day moving average is $185.08. 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 posted 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 net margin of 13.95% and a return on equity of 19.48%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the business posted $0.66 earnings per share. The company's revenue was up 15.3% on a year-over-year basis. Equities analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. KeyCorp reiterated an "overweight" rating and issued a $220.00 price objective on shares of Palo Alto Networks in a report on Wednesday, May 21st. Citigroup upped their target price on Palo Alto Networks from $205.00 to $220.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Stephens lowered shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Barclays cut their price objective on Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 21st. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $235.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, May 20th. 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $208.00.

Insiders Place Their Bets

In related news, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the transaction, the executive vice president now owns 321,774 shares in the company, valued at $48,629,704.62. The trade was a 27.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Josh D. Paul sold 800 shares of Palo Alto Networks stock in a transaction on Friday, June 20th. The shares were sold at an average price of $201.05, for a total value of $160,840.00. Following the completion of the sale, the chief accounting officer now directly owns 42,033 shares of the company's stock, valued at $8,450,734.65. This trade represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 790,536 shares of company stock valued at $139,998,368. 2.50% of the stock is currently owned by corporate insiders.

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.