Crestwood Advisors Group LLC Boosts Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Crestwood Advisors Group LLC boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 18.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,969 shares of the network technology company's stock after buying an additional 12,085 shares during the quarter. Crestwood Advisors Group LLC's holdings in Palo Alto Networks were worth $13,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transce3nd LLC bought a new position in shares of Palo Alto Networks during the fourth quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL raised its holdings in Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Kiely Wealth Advisory Group Inc. raised its holdings in Palo Alto Networks by 100.0% in the fourth 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. Anchor Investment Management LLC raised its holdings in Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after purchasing an additional 78 shares in the last quarter. Finally, Capital A Wealth Management LLC bought a new position in Palo Alto Networks in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 79.82% of the company's stock.

Analyst Ratings Changes

PANW has been the subject of a number of research reports. Truist Financial decreased their price objective on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a report on Monday, March 31st. Roth Capital began coverage on Palo Alto Networks in a report on Thursday, May 15th. They set a "neutral" rating and a $210.00 price target for the company. Rosenblatt Securities restated a "buy" rating and set a $235.00 price target on shares of Palo Alto Networks in a report on Tuesday, May 20th. HSBC upgraded Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective for the company in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. reduced their price objective on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat, Palo Alto Networks presently has an average rating of "Moderate Buy" and a consensus target price of $209.42.

Insider Transactions at Palo Alto Networks

In other news, Director Aparna Bawa sold 526 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $190.00, for a total transaction of $99,940.00. Following the completion of the transaction, the director directly owned 8,632 shares of the company's stock, valued at approximately $1,640,080. This represents a 5.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Josh D. Paul sold 800 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $201.05, for a total value of $160,840.00. Following the transaction, the chief accounting officer directly owned 42,033 shares of the company's stock, valued at approximately $8,450,734.65. This represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 569,248 shares of company stock valued at $111,279,829 in the last 90 days. Insiders own 2.50% of the company's stock.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW traded up $0.74 during midday trading on Thursday, hitting $199.96. The company had a trading volume of 1,198,824 shares, compared to its average volume of 5,373,584. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The stock has a market cap of $133.33 billion, a price-to-earnings ratio of 114.25, a price-to-earnings-growth ratio of 5.49 and a beta of 0.97. The business's 50-day simple moving average is $195.97 and its 200-day simple moving average is $186.38.

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 19.48% and a net margin of 13.95%. 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. As a group, sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Palo Alto Networks Company 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.