Horst & Graben Wealth Management LLC Purchases New Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Horst & Graben Wealth Management LLC bought a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,485 shares of the network technology company's stock, valued at approximately $253,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PANW. Alpha Cubed Investments LLC raised its position in shares of Palo Alto Networks by 2.7% in the 1st quarter. Alpha Cubed Investments LLC now owns 480,092 shares of the network technology company's stock worth $81,923,000 after acquiring an additional 12,628 shares in the last quarter. Washington Trust Bank raised its position in shares of Palo Alto Networks by 1.9% in the 1st quarter. Washington Trust Bank now owns 136,913 shares of the network technology company's stock worth $23,363,000 after acquiring an additional 2,499 shares in the last quarter. Financial Counselors Inc. raised its position in shares of Palo Alto Networks by 2.5% in the 1st quarter. Financial Counselors Inc. now owns 72,811 shares of the network technology company's stock worth $12,424,000 after acquiring an additional 1,798 shares in the last quarter. Byrne Financial Freedom LLC raised its position in shares of Palo Alto Networks by 5.4% in the 1st quarter. Byrne Financial Freedom LLC now owns 3,888 shares of the network technology company's stock worth $663,000 after acquiring an additional 200 shares in the last quarter. Finally, YANKCOM Partnership raised its position in shares of Palo Alto Networks by 7.3% in the 1st quarter. YANKCOM Partnership now owns 1,375 shares of the network technology company's stock worth $235,000 after acquiring an additional 93 shares in the last quarter. 79.82% of the stock is owned by institutional investors.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $189.27, for a total transaction of $22,858,894.98. Following the completion of the transaction, the executive vice president owned 293,010 shares of the company's stock, valued at $55,458,002.70. This represents a 29.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $201.85, for a total value of $1,009,250.00. Following the completion of the sale, the executive vice president directly owned 101,135 shares of the company's stock, valued at approximately $20,414,099.75. This represents a 4.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 547,948 shares of company stock worth $103,462,223 over the last three months. 2.50% of the stock is owned by insiders.

Palo Alto Networks Stock Up 1.3%

Shares of Palo Alto Networks stock traded up $2.57 during mid-day trading on Tuesday, reaching $203.99. 3,409,521 shares of the stock traded hands, compared to its average volume of 5,386,121. The business has a 50-day moving average of $194.20 and a 200 day moving average of $185.49. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39. The stock has a market capitalization of $136.02 billion, a PE ratio of 116.57, a PEG ratio of 5.62 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $2.28 billion. During the same quarter in the prior year, the firm earned $0.66 earnings per share. The business's revenue was up 15.3% compared to the same quarter last year. On average, equities research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PANW has been the topic of several research analyst reports. HSBC upgraded Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 target price on the stock in a research note on Thursday, April 10th. Barclays dropped their target price 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. Hsbc Global Res upgraded Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 10th. Roth Capital initiated coverage on Palo Alto Networks in a research note on Thursday, May 15th. They set a "neutral" rating and a $210.00 target price on the stock. Finally, Morgan Stanley dropped their target price 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. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks has an average rating of "Moderate Buy" and a consensus target price 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.