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

Long Run Wealth Advisors LLC lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 8.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,373 shares of the network technology company's stock after buying an additional 1,641 shares during the period. Long Run Wealth Advisors LLC's holdings in Palo Alto Networks were worth $3,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL lifted its position in Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after purchasing an additional 55 shares during the period. JDM Financial Group LLC raised its stake in shares of Palo Alto Networks by 22.4% during the 4th quarter. JDM Financial Group LLC now owns 322 shares of the network technology company's stock valued at $59,000 after buying an additional 59 shares during the last quarter. Rakuten Securities Inc. raised its position in Palo Alto Networks by 8.4% during the fourth quarter. Rakuten Securities Inc. now owns 906 shares of the network technology company's stock valued at $165,000 after acquiring an additional 70 shares in the last quarter. Quarry LP lifted its holdings in Palo Alto Networks by 16.9% in the fourth quarter. Quarry LP now owns 511 shares of the network technology company's stock valued at $93,000 after acquiring an additional 74 shares during the period. Finally, Kiely Wealth Advisory Group Inc. boosted its position in Palo Alto Networks by 100.0% in the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 79.82% of the company's stock.

Insiders Place Their Bets

In related news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the sale, the executive vice president now owns 321,774 shares in the company, valued at approximately $48,629,704.62. This trade represents a 27.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nikesh Arora sold 227,414 shares of the company'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 transaction, the chief executive officer now 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. Insiders sold a total of 668,962 shares of company stock valued at $116,269,690 over the last 90 days. 2.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

PANW has been the subject of several recent research reports. Westpark Capital reaffirmed a "hold" rating and set a $196.40 target price on shares of Palo Alto Networks in a report on Wednesday, February 12th. Stephens cut shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. Barclays lowered their target price on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 21st. Susquehanna lifted their price target on Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a research note on Tuesday, February 18th. Finally, Jefferies Financial Group increased their price target on Palo Alto Networks from $215.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $208.00.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW traded up $2.49 during midday trading on Friday, reaching $199.60. 3,227,423 shares of the stock were exchanged, compared to its average volume of 5,522,401. The stock has a market capitalization of $133.09 billion, a P/E ratio of 112.45, a PEG ratio of 5.64 and a beta of 0.97. The company has a 50 day simple moving average of $179.91 and a 200 day simple moving average of $185.06. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping 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 company 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 firm's quarterly revenue was up 15.3% compared to the same quarter last year. On average, research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

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.