Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by IFP Advisors Inc

IFP Advisors Inc grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 13.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,030 shares of the network technology company's stock after acquiring an additional 2,877 shares during the period. IFP Advisors Inc's holdings in Palo Alto Networks were worth $4,101,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Transce3nd LLC purchased a new position in shares of Palo Alto Networks during the 4th quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL increased its stake in shares of Palo Alto Networks by 64.0% during the 4th 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. Anchor Investment Management LLC increased its stake in shares of Palo Alto Networks by 100.0% during the 4th 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. Kiely Wealth Advisory Group Inc. increased its stake in shares of Palo Alto Networks by 100.0% during the 4th 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. Finally, Capital A Wealth Management LLC purchased a new position in shares of Palo Alto Networks during the 4th quarter worth approximately $29,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Down 0.3%

Shares of NASDAQ:PANW opened at $195.78 on Monday. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39. The firm has a 50-day simple moving average of $195.58 and a 200 day simple moving average of $186.10. The company has a market cap of $130.55 billion, a PE ratio of 111.87, a P/E/G ratio of 5.47 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 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The company's revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analysts Set New Price Targets

PANW has been the subject of several recent analyst reports. HSBC raised shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 target price for the company in a research note on Thursday, April 10th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $223.00 target price on shares of Palo Alto Networks in a research note on Monday, May 19th. Morgan Stanley lowered 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 note on Wednesday, April 16th. Truist Financial lowered their target price 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. Finally, Barclays lowered their target price on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a research note on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.16.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $189.27, for a total value of $22,858,894.98. Following the completion of the transaction, the executive vice president owned 293,010 shares in the company, valued at approximately $55,458,002.70. This represents a 29.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total transaction 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 trade represents a 2.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 569,248 shares of company stock worth $111,279,829 in the last quarter. 2.50% of the stock is currently owned by corporate insiders.

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.

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