Legacy Financial Strategies LLC Has $356,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Legacy Financial Strategies LLC decreased its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 41.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,088 shares of the network technology company's stock after selling 1,456 shares during the period. Legacy Financial Strategies LLC's holdings in Palo Alto Networks were worth $356,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Palo Alto Networks by 104.4% during the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock valued at $11,142,122,000 after acquiring an additional 31,281,359 shares during the period. Geode Capital Management LLC increased its holdings in shares of Palo Alto Networks by 87.8% during the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock valued at $2,611,013,000 after acquiring an additional 6,725,148 shares in the last quarter. Capital Research Global Investors raised its position in Palo Alto Networks by 83.8% during the 4th quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock worth $1,533,419,000 after buying an additional 3,841,359 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Palo Alto Networks by 133.7% during the 4th quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock valued at $1,427,048,000 after purchasing an additional 4,486,654 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Palo Alto Networks by 17.6% in the 4th quarter. Ameriprise Financial Inc. now owns 7,277,739 shares of the network technology company's stock valued at $1,324,387,000 after acquiring an additional 1,088,631 shares during the period. Institutional investors own 79.82% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Rosenblatt Securities restated a "buy" rating and issued a $235.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 20th. TD Securities reissued a "buy" rating and set a $230.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. JMP Securities boosted their price objective on Palo Alto Networks from $208.00 to $212.00 and gave the stock a "market outperform" rating in a research report on Friday, February 14th. KeyCorp reissued an "overweight" rating and set a $220.00 price objective on shares of Palo Alto Networks 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 report on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $208.00.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW traded up $2.44 on Monday, reaching $194.86. The company's stock had a trading volume of 4,407,854 shares, compared to its average volume of 5,554,360. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $208.39. The stock's 50-day moving average is $178.31 and its two-hundred day moving average is $184.87. The stock has a market capitalization of $129.93 billion, a P/E ratio of 109.78, a PEG ratio of 5.64 and a beta of 1.02.

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 21.93% and a net margin of 14.64%. The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. During the same period last year, the firm earned $0.66 EPS. The company's quarterly revenue was up 15.3% compared to the same quarter last year. Equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now directly owns 293,010 shares in the company, valued at approximately $55,458,002.70. This trade represents a 29.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction on Friday, April 11th. The stock was sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the sale, the executive vice president now owns 3,543,516 shares of the company's stock, valued at approximately $586,132,981.56. This trade represents a 2.74% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 568,962 shares of company stock worth $96,933,690. 2.50% of the stock is currently owned by insiders.

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.