Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Avior Wealth Management LLC

Avior Wealth Management LLC lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 205.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,145 shares of the network technology company's stock after buying an additional 1,443 shares during the period. Avior Wealth Management LLC's holdings in Palo Alto Networks were worth $366,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Strategic Investment Solutions Inc. IL boosted its stake in shares of 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 worth $26,000 after buying an additional 55 shares during the period. JDM Financial Group LLC boosted its stake in shares of 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 worth $59,000 after buying an additional 59 shares during the period. Adero Partners LLC boosted its stake in shares of Palo Alto Networks by 4.3% during the first quarter. Adero Partners LLC now owns 1,556 shares of the network technology company's stock worth $266,000 after buying an additional 64 shares during the period. Snider Financial Group boosted its stake in shares of Palo Alto Networks by 0.4% during the first quarter. Snider Financial Group now owns 17,729 shares of the network technology company's stock worth $3,025,000 after buying an additional 65 shares during the period. Finally, Grimes & Company Inc. boosted its stake in shares of Palo Alto Networks by 5.3% during the first quarter. Grimes & Company Inc. now owns 1,310 shares of the network technology company's stock worth $224,000 after buying an additional 66 shares during the period. Institutional investors and hedge funds own 79.82% of the company's stock.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction on Monday, April 7th. The shares were 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 trade represents a 27.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Nikesh Arora sold 227,414 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 789,736 shares of company stock worth $139,837,528 in the last quarter. 2.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. HSBC raised shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price target for the company in a report on Thursday, April 10th. Truist Financial cut their price target on shares of 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 assumed coverage on shares of Palo Alto Networks in a report on Thursday, May 15th. They set a "neutral" rating and a $210.00 price target for the company. Citigroup increased their price target on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Finally, Barclays cut their price target on shares of Palo Alto Networks from $213.00 to $210.00 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, fourteen have given a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $208.00.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $199.24 on Monday. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The firm's 50 day moving average price is $187.43 and its 200 day moving average price is $185.08. The firm has a market cap of $132.85 billion, a P/E ratio of 113.85, a price-to-earnings-growth ratio of 5.56 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. Palo Alto Networks's revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the business earned $0.66 EPS. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

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.

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.