Mogy Joel R Investment Counsel Inc. Buys 4,605 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Mogy Joel R Investment Counsel Inc. grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 309,235 shares of the network technology company's stock after buying an additional 4,605 shares during the period. Palo Alto Networks accounts for about 3.4% of Mogy Joel R Investment Counsel Inc.'s portfolio, making the stock its 11th biggest holding. Mogy Joel R Investment Counsel Inc.'s holdings in Palo Alto Networks were worth $52,768,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PANW. Brighton Jones LLC lifted its holdings in Palo Alto Networks by 147.7% during the 4th quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company's stock worth $1,230,000 after purchasing an additional 4,031 shares during the last quarter. Savant Capital LLC increased its stake in shares of Palo Alto Networks by 88.1% in the 4th quarter. Savant Capital LLC now owns 12,761 shares of the network technology company's stock valued at $2,322,000 after purchasing an additional 5,978 shares during the last quarter. Equitable Trust Co. increased its stake in shares of Palo Alto Networks by 100.0% in the 4th quarter. Equitable Trust Co. now owns 2,658 shares of the network technology company's stock valued at $484,000 after purchasing an additional 1,329 shares during the last quarter. Focus Financial Network Inc. increased its stake in shares of Palo Alto Networks by 84.3% in the 4th quarter. Focus Financial Network Inc. now owns 11,372 shares of the network technology company's stock valued at $2,069,000 after purchasing an additional 5,200 shares during the last quarter. Finally, Essex Financial Services Inc. increased its stake in shares of Palo Alto Networks by 117.1% in the 4th quarter. Essex Financial Services Inc. now owns 2,966 shares of the network technology company's stock valued at $540,000 after purchasing an additional 1,600 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PANW has been the topic of a number of research reports. Citigroup boosted their price objective on Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $223.00 target price on shares of Palo Alto Networks in a report on Monday, May 19th. Truist Financial cut their target price on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Jefferies Financial Group boosted their price objective on Palo Alto Networks from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, KeyCorp reaffirmed an "overweight" rating and set a $220.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $208.00.

Palo Alto Networks Price Performance

NASDAQ PANW traded down $1.40 during mid-day trading on Friday, reaching $196.27. The stock had a trading volume of 3,815,861 shares, compared to its average volume of 5,482,755. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The stock has a market cap of $130.87 billion, a PE ratio of 110.58, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97. The company has a fifty day moving average price of $184.15 and a 200 day moving average price of $185.11.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the business earned $0.66 EPS. The firm's revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities research analysts expect 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 news, EVP Nir Zuk sold 100,000 shares of the business's stock in a transaction on 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 completion of the sale, the executive vice president now owns 3,543,516 shares of the company's stock, valued at $586,132,981.56. The trade was a 2.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Nikesh Arora sold 227,414 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total transaction 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. The trade was a 41.73% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 789,736 shares of company stock worth $139,837,528. 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.