Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Janney Capital Management LLC

Janney Capital Management LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 23.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,288 shares of the network technology company's stock after buying an additional 8,115 shares during the quarter. Janney Capital Management LLC's holdings in Palo Alto Networks were worth $7,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PANW. Transce3nd LLC purchased a new position in Palo Alto Networks during the 4th quarter worth $25,000. Strategic Investment Solutions Inc. IL grew its stake in Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after buying an additional 55 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in Palo Alto Networks by 102.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock worth $28,000 after buying an additional 79 shares during the last quarter. Anchor Investment Management LLC grew its stake in Palo Alto Networks by 100.0% during the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after buying an additional 78 shares during the last quarter. Finally, Kiely Wealth Advisory Group Inc. grew its stake in Palo Alto Networks by 100.0% during the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after buying an additional 75 shares during the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Down 0.3%

Shares of NASDAQ PANW traded down $0.54 during midday trading on Friday, hitting $199.24. The stock had a trading volume of 8,285,645 shares, compared to its average volume of 5,480,472. The company has a market capitalization of $132.85 billion, a PE ratio of 113.85, a P/E/G ratio of 5.57 and a beta of 0.97. The stock has a 50 day simple moving average of $186.81 and a 200-day simple moving average of $185.29. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted 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 return on equity of 19.48% and a net margin of 13.95%. The firm had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The business's revenue for the quarter was up 15.3% on a year-over-year basis. As a group, analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on PANW. Roth Capital began coverage on Palo Alto Networks in a research note on Thursday, May 15th. They set a "neutral" rating and a $210.00 price target on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $223.00 price target on shares of Palo Alto Networks in a research note on Monday, May 19th. Sanford C. Bernstein set a $225.00 price target on Palo Alto Networks and gave the company an "outperform" rating in a research note on Wednesday, May 21st. TD Securities reiterated a "buy" rating and set a $230.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $235.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 20th. Two 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $208.00.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction 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 completion of the sale, the executive vice president now owns 264,246 shares of the company's stock, valued at $51,564,964.44. This trade represents a 31.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 stock was sold at an average price of $172.73, for a total value of $39,281,220.22. Following the sale, the chief executive officer now directly owns 317,571 shares of the company's stock, valued at approximately $54,854,038.83. This trade represents a 41.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 789,736 shares of company stock worth $139,837,528. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks 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.