Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Long Run Wealth Advisors LLC

Long Run Wealth Advisors LLC raised its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 8.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,373 shares of the network technology company's stock after purchasing an additional 1,641 shares during the period. Long Run Wealth Advisors LLC's holdings in Palo Alto Networks were worth $3,476,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PANW. Vanguard Group Inc. increased its position in shares of Palo Alto Networks by 104.4% in the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock worth $11,142,122,000 after acquiring an additional 31,281,359 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Palo Alto Networks by 87.8% in the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock worth $2,611,013,000 after acquiring an additional 6,725,148 shares in the last quarter. Capital Research Global Investors increased its position in shares of Palo Alto Networks by 83.8% in the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock worth $1,533,419,000 after acquiring an additional 3,841,359 shares in the last quarter. Northern Trust Corp increased its position in shares of Palo Alto Networks by 133.7% in the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock worth $1,427,048,000 after acquiring an additional 4,486,654 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Palo Alto Networks by 17.6% in the fourth quarter. Ameriprise Financial Inc. now owns 7,277,739 shares of the network technology company's stock worth $1,324,387,000 after acquiring an additional 1,088,631 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PANW shares. Hsbc Global Res raised shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 10th. UBS Group raised their price target on shares of Palo Alto Networks from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Morgan Stanley lowered their price target on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. 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. Finally, Northland Securities lowered their price target on shares of Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating for the company in a report on Wednesday, May 21st. Two 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 company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $208.00.

Palo Alto Networks Price Performance

Shares of PANW stock traded up $2.49 during trading hours on Friday, reaching $199.60. The stock had a trading volume of 3,304,756 shares, compared to its average volume of 5,525,650. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The firm has a 50-day simple moving average of $180.48 and a 200-day simple moving average of $185.09. The firm has a market capitalization of $133.09 billion, a PE ratio of 112.45, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its 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. The firm had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Palo Alto Networks's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the company earned $0.66 EPS. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $195.14, for a total transaction of $23,567,838.36. Following the transaction, the executive vice president now owns 264,246 shares of the company's stock, valued at approximately $51,564,964.44. This trade represents a 31.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the transaction, the executive vice president now directly owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. The trade was a 2.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 789,736 shares of company stock valued at $139,837,528. Company insiders own 2.50% of the company's stock.

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.