Ibex Wealth Advisors Buys 3,552 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Ibex Wealth Advisors raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,354 shares of the network technology company's stock after acquiring an additional 3,552 shares during the quarter. Palo Alto Networks accounts for about 1.5% of Ibex Wealth Advisors' investment portfolio, making the stock its 17th largest holding. Ibex Wealth Advisors' holdings in Palo Alto Networks were worth $11,152,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PANW. Transce3nd LLC bought a new stake in shares of Palo Alto Networks during the fourth quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL increased its position in shares of Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Palo Alto Networks by 265.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock valued at $27,000 after buying an additional 106 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock valued at $28,000 after purchasing an additional 79 shares during the period. Finally, Anchor Investment Management LLC increased its position in Palo Alto Networks by 100.0% in the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after purchasing an additional 78 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $195.14, for a total transaction of $23,567,838.36. Following the sale, the executive vice president now directly owns 264,246 shares in the company, valued at $51,564,964.44. The trade was a 31.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nikesh Arora sold 227,414 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total value of $39,281,220.22. Following the transaction, the chief executive officer now directly owns 317,571 shares in the company, valued at $54,854,038.83. This trade represents a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 789,736 shares of company stock worth $139,837,528. 2.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 21st. HSBC raised Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 target price on the stock in a report on Thursday, April 10th. Citigroup raised their price target on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Wells Fargo & Company lifted 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, KeyCorp reiterated an "overweight" rating and issued a $220.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $208.00.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock traded down $1.56 during trading on Wednesday, hitting $194.39. 3,460,345 shares of the stock were exchanged, compared to its average volume of 5,494,323. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $208.39. The stock has a market cap of $129.62 billion, a price-to-earnings ratio of 109.52, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97. The firm's 50-day moving average price is $181.56 and its 200 day moving average price is $185.03.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The business's revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 earnings per share. As a group, research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

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.