Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Neville Rodie & Shaw Inc.

Neville Rodie & Shaw Inc. raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 14.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,315 shares of the network technology company's stock after buying an additional 2,769 shares during the period. Neville Rodie & Shaw Inc.'s holdings in Palo Alto Networks were worth $3,808,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Uniting Wealth Partners LLC acquired a new position in shares of Palo Alto Networks during the fourth quarter worth $548,000. Rehmann Capital Advisory Group boosted its holdings in Palo Alto Networks by 106.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 2,378 shares of the network technology company's stock valued at $433,000 after purchasing an additional 1,226 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Palo Alto Networks by 94.3% in the fourth 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 purchasing an additional 5,658 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its stake in shares of Palo Alto Networks by 108.1% during the 4th 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 in the last quarter. Finally, National Pension Service boosted its stake in shares of Palo Alto Networks by 82.1% during the 4th quarter. National Pension Service now owns 1,345,740 shares of the network technology company's stock worth $244,871,000 after acquiring an additional 606,778 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company's stock.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock traded up $4.96 during trading on Friday, hitting $190.78. 11,416,203 shares of the stock were exchanged, compared to its average volume of 5,559,007. The stock has a market cap of $127.21 billion, a price-to-earnings ratio of 107.48, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02. The firm's 50-day moving average price is $178.31 and its 200 day moving average price is $184.96. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $2.29 billion during 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%. The company's revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 EPS. As a group, research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PANW shares. Rosenblatt Securities reissued a "buy" rating and set a $235.00 target price on shares of Palo Alto Networks in a research note on Tuesday, May 20th. Roth Capital started coverage on shares of Palo Alto Networks in a research note on Thursday, May 15th. They set a "neutral" rating and a $210.00 target price on the stock. Susquehanna increased their target price on shares of Palo Alto Networks from $217.50 to $230.00 and gave the stock a "positive" rating in a research note on Tuesday, February 18th. Sanford C. Bernstein set a $225.00 price target on shares of Palo Alto Networks and gave the company an "outperform" rating in a research note on Wednesday, May 21st. Finally, UBS Group increased their price objective 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. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Palo Alto Networks has a consensus rating of "Moderate Buy" and an average price target of $208.00.

Insider Buying and Selling

In related news, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks 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 sale, the executive vice president now directly owns 3,543,516 shares in the company, valued at $586,132,981.56. This trade represents a 2.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction on Monday, April 7th. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the sale, the executive vice president now owns 321,774 shares in the company, valued at $48,629,704.62. This represents a 27.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 568,962 shares of company stock worth $96,933,690 in the last ninety days. 2.50% of the stock is owned by corporate 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.