Joel Isaacson & Co. LLC Buys New Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Joel Isaacson & Co. LLC acquired a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,988 shares of the network technology company's stock, valued at approximately $510,000.

Several other hedge funds also recently modified their holdings of PANW. Uniting Wealth Partners LLC acquired a new stake in shares of Palo Alto Networks in the fourth quarter valued at approximately $548,000. Rehmann Capital Advisory Group boosted its position in Palo Alto Networks by 106.4% in the 4th quarter. Rehmann Capital Advisory Group now owns 2,378 shares of the network technology company's stock valued at $433,000 after buying an additional 1,226 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Palo Alto Networks by 94.3% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company's stock valued at $2,122,000 after buying an additional 5,658 shares during the period. Knights of Columbus Asset Advisors LLC raised its position in shares of Palo Alto Networks by 108.1% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 21,354 shares of the network technology company's stock worth $3,886,000 after acquiring an additional 11,095 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Palo Alto Networks by 10.8% during the first quarter. GAMMA Investing LLC now owns 14,125 shares of the network technology company's stock valued at $2,410,000 after acquiring an additional 1,374 shares during the period. Institutional investors and hedge funds own 79.82% of the company's stock.

Palo Alto Networks Stock Up 2.0%

NASDAQ PANW traded up $4.07 on Monday, hitting $204.64. The company's stock had a trading volume of 4,347,570 shares, compared to its average volume of 5,391,653. The company's 50-day moving average is $190.70 and its 200 day moving average is $185.23. The firm has a market cap of $136.45 billion, a PE ratio of 116.94, a PEG ratio of 5.60 and a beta of 0.97. 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 data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. Palo Alto Networks's quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 earnings per share. On average, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $193.36, for a total value of $19,336,000.00. Following the sale, the executive vice president directly owned 3,343,516 shares of the company's stock, valued at approximately $646,502,253.76. This represents a 2.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $195.14, for a total value of $23,567,838.36. Following the completion of the transaction, the executive vice president owned 264,246 shares in the company, valued at approximately $51,564,964.44. This represents a 31.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 795,536 shares of company stock worth $141,007,618. Company insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PANW. Wells Fargo & Company lifted their target price on shares of Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Sanford C. Bernstein set a $225.00 price objective on Palo Alto Networks and gave the company an "outperform" rating in a report on Wednesday, May 21st. Rosenblatt Securities restated a "buy" rating and set a $235.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 20th. Northland Securities decreased their target price on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating for the company in a research report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. lowered their price target on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a research note on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $208.00.

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.