Capital Advisors Inc. OK Has $41.58 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Capital Advisors Inc. OK grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 22.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 243,684 shares of the network technology company's stock after buying an additional 45,210 shares during the quarter. Capital Advisors Inc. OK's holdings in Palo Alto Networks were worth $41,582,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PANW. Strategic Investment Solutions Inc. IL grew 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 in the last quarter. Crew Capital Management Ltd. grew its position in Palo Alto Networks by 2.5% during the first quarter. Crew Capital Management Ltd. now owns 2,310 shares of the network technology company's stock valued at $394,000 after purchasing an additional 57 shares in the last quarter. JDM Financial Group LLC grew its position in Palo Alto Networks by 22.4% during the fourth quarter. JDM Financial Group LLC now owns 322 shares of the network technology company's stock valued at $59,000 after purchasing an additional 59 shares in the last quarter. WealthBridge Capital Management LLC grew its position in Palo Alto Networks by 2.0% during the first quarter. WealthBridge Capital Management LLC now owns 3,067 shares of the network technology company's stock valued at $523,000 after purchasing an additional 61 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. grew its position in Palo Alto Networks by 0.3% during the first quarter. Penobscot Investment Management Company Inc. now owns 18,983 shares of the network technology company's stock valued at $3,239,000 after purchasing an additional 63 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Nir Zuk sold 100,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $198.66, for a total value of $19,866,000.00. Following the completion of the transaction, the executive vice president owned 3,243,516 shares of the company's stock, valued at approximately $644,356,888.56. This represents a 2.99% 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 Dipak Golechha sold 5,000 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the completion of the transaction, the executive vice president directly owned 101,135 shares of the company's stock, valued at $20,414,099.75. This trade represents a 4.71% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 547,948 shares of company stock worth $103,462,223. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Trading Up 0.5%

Shares of NASDAQ:PANW traded up $1.04 on Wednesday, hitting $205.03. The company had a trading volume of 1,305,078 shares, compared to its average volume of 5,370,182. 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 $136.71 billion, a price-to-earnings ratio of 116.96, a P/E/G ratio of 5.62 and a beta of 0.97. The stock has a 50 day moving average price of $194.55 and a 200 day moving average price of $185.62.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly 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. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the company posted $0.66 earnings per share. Palo Alto Networks's revenue was up 15.3% compared to the same quarter last year. Sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

PANW has been the subject of a number of analyst reports. Rosenblatt Securities restated a "buy" rating and issued a $235.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, May 20th. Cantor Fitzgerald restated an "overweight" rating and issued a $223.00 price objective on shares of Palo Alto Networks in a research note on Monday, May 19th. HSBC upgraded shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective for the company in a research note on Thursday, April 10th. Stephens cut shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Finally, Truist Financial reduced their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $208.00.

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.