Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,412 shares of the network technology company's stock after acquiring an additional 1,858 shares during the quarter. Procyon Advisors LLC's holdings in Palo Alto Networks were worth $4,848,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Transce3nd LLC acquired a new stake in Palo Alto Networks in the fourth quarter worth about $25,000. Strategic Investment Solutions Inc. IL boosted 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 acquiring an additional 55 shares in the last quarter. Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of Palo Alto Networks by 265.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock worth $27,000 after purchasing an additional 106 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in shares of Palo Alto Networks by 102.6% during the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock worth $28,000 after purchasing an additional 79 shares during the period. Finally, Anchor Investment Management LLC lifted its holdings in shares of Palo Alto Networks by 100.0% during 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 during the period. Institutional investors and hedge funds own 79.82% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on PANW. Morgan Stanley decreased their target price on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Stephens downgraded Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. Roth Capital began coverage on Palo Alto Networks in a report on Thursday, May 15th. They set a "neutral" rating and a $210.00 target price for the company. Guggenheim reaffirmed a "sell" rating and set a $130.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Finally, JMP Securities lifted their target price on Palo Alto Networks from $208.00 to $212.00 and gave the stock a "market outperform" rating in a report on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Palo Alto Networks currently has a consensus rating of "Moderate Buy" and an average price target of $208.00.

Palo Alto Networks Stock Performance

Shares of PANW opened at $197.18 on Friday. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39. The stock has a market capitalization of $131.48 billion, a price-to-earnings ratio of 111.09, a PEG ratio of 5.64 and a beta of 1.02. The stock has a 50 day moving average price of $179.91 and a 200 day moving average price of $185.06.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The company had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The firm's quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 EPS. On average, analysts predict 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, CEO Nikesh Arora sold 227,414 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the completion of the transaction, the chief executive officer now directly owns 317,571 shares in the company, valued at approximately $54,854,038.83. This represents a 41.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the transaction, the executive vice president now owns 321,774 shares of the company's stock, valued at approximately $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 sold a total of 668,962 shares of company stock worth $116,269,690 in the last three months. 2.50% of the stock is owned by corporate insiders.

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.

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