Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Obermeyer Wealth Partners

Obermeyer Wealth Partners increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 44.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,480 shares of the network technology company's stock after purchasing an additional 1,386 shares during the period. Obermeyer Wealth Partners' holdings in Palo Alto Networks were worth $764,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. HighPoint Advisor Group LLC lifted its stake in shares of Palo Alto Networks by 19.9% during the 1st quarter. HighPoint Advisor Group LLC now owns 24,422 shares of the network technology company's stock worth $4,558,000 after buying an additional 4,055 shares during the last quarter. Crestwood Advisors Group LLC lifted its holdings in Palo Alto Networks by 18.3% during the 1st quarter. Crestwood Advisors Group LLC now owns 77,969 shares of the network technology company's stock worth $13,305,000 after buying an additional 12,085 shares during the period. Hazlett Burt & Watson Inc. lifted its stake in Palo Alto Networks by 4.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 1,988 shares of the network technology company's stock valued at $340,000 after buying an additional 76 shares during the period. Aire Advisors LLC raised its stake in Palo Alto Networks by 6.4% during the 1st quarter. Aire Advisors LLC now owns 2,959 shares of the network technology company's stock worth $505,000 after buying an additional 178 shares during the period. Finally, Summit Wealth & Retirement Planning Inc. increased its holdings in Palo Alto Networks by 5.0% during the 1st quarter. Summit Wealth & Retirement Planning Inc. now owns 2,530 shares of the network technology company's stock worth $432,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 79.82% of the company's stock.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 800 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $201.05, for a total value of $160,840.00. Following the completion of the sale, the chief accounting officer owned 42,033 shares of the company's stock, valued at approximately $8,450,734.65. This trade represents a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $189.27, for a total transaction of $22,858,894.98. Following the completion of the sale, the executive vice president directly owned 293,010 shares in the company, valued at approximately $55,458,002.70. The trade was a 29.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 569,248 shares of company stock worth $111,279,829 over the last three months. 2.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $223.00 price target on shares of Palo Alto Networks in a research report on Monday, May 19th. Sanford C. Bernstein set a $225.00 target price on Palo Alto Networks and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. Rosenblatt Securities reiterated a "buy" rating and issued a $235.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 20th. Hsbc Global Res upgraded Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 10th. Finally, Morgan Stanley cut their target price on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $209.16.

Palo Alto Networks Price Performance

Palo Alto Networks stock traded down $3.15 during midday trading on Tuesday, reaching $196.73. The company had a trading volume of 3,655,040 shares, compared to its average volume of 5,399,274. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $208.39. The firm's fifty day simple moving average is $195.58 and its 200-day simple moving average is $186.10. The company has a market capitalization of $131.18 billion, a P/E ratio of 112.42, a P/E/G ratio of 5.58 and a beta of 0.97.

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 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The firm's revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 earnings per share. On average, analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal 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.