1,485 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Bought by Horst & Graben Wealth Management LLC

Horst & Graben Wealth Management LLC acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,485 shares of the network technology company's stock, valued at approximately $253,000.

Several other large investors also recently modified their holdings of PANW. Brighton Jones LLC increased its position in Palo Alto Networks by 147.7% during the 4th quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company's stock worth $1,230,000 after buying an additional 4,031 shares during the period. Bank Pictet & Cie Europe AG increased its position in Palo Alto Networks by 115.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 43,985 shares of the network technology company's stock worth $8,004,000 after acquiring an additional 23,586 shares during the period. Proficio Capital Partners LLC increased its position in Palo Alto Networks by 215.8% during the fourth quarter. Proficio Capital Partners LLC now owns 2,416 shares of the network technology company's stock worth $440,000 after acquiring an additional 1,651 shares during the period. Dana Investment Advisors Inc. increased its position in Palo Alto Networks by 98.7% during the fourth quarter. Dana Investment Advisors Inc. now owns 4,622 shares of the network technology company's stock worth $841,000 after acquiring an additional 2,296 shares during the period. Finally, Inceptionr LLC increased its position in Palo Alto Networks by 21.4% during the fourth quarter. Inceptionr LLC now owns 1,628 shares of the network technology company's stock worth $296,000 after acquiring an additional 287 shares during the period. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Trading Down 6.8%

PANW traded down $13.99 during trading on Thursday, reaching $192.07. 9,212,891 shares of the company's stock were exchanged, compared to its average volume of 5,399,801. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39. The stock has a market capitalization of $128.07 billion, a PE ratio of 109.75, a price-to-earnings-growth ratio of 5.69 and a beta of 0.97. The firm has a fifty day moving average price of $194.93 and a two-hundred day moving average price of $185.76.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued 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 for the quarter, compared to analysts' expectations of $2.28 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. Palo Alto Networks's revenue for the quarter was up 15.3% on a year-over-year basis. Sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Activity at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $200.86, for a total value of $24,258,665.64. Following the transaction, the executive vice president owned 235,482 shares in the company, valued at $47,298,914.52. This trade represents a 33.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dipak Golechha sold 5,000 shares of the firm's 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 transaction, the executive vice president owned 101,135 shares in the company, valued at $20,414,099.75. This represents a 4.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 669,248 shares of company stock worth $127,820,829 over the last quarter. 2.50% of the stock is owned by company insiders.

Analyst Ratings Changes

PANW has been the topic of several recent research reports. Barclays lowered their target price on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a report on Wednesday, May 21st. Cantor Fitzgerald restated an "overweight" rating and set a $223.00 price objective on shares of Palo Alto Networks in a research note on Monday, May 19th. 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. Wells Fargo & Company raised their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Finally, TD Securities restated a "buy" rating and issued a $230.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Two equities research 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $208.00.

About Palo Alto Networks

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.