Meeder Advisory Services Inc. Grows Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Key Points

• Meeder Advisory Services Inc. increased its holdings in Palo Alto Networks, Inc. by 13.0%, ending the first quarter with a total of 14,366 shares valued at approximately $2.45 million.
• Despite a recent drop in stock price to $183.03, Palo Alto Networks has experienced a 15.3% revenue increase year-over-year, reporting $2.29 billion in revenue for the most recent quarter.
• Recent analysts’ reports show varied price target adjustments for Palo Alto Networks, with targets ranging from $177.00 to $223.00, while the average target price remains at approximately $209.42.

Meeder Advisory Services Inc. lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 13.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,366 shares of the network technology company's stock after purchasing an additional 1,658 shares during the period. Meeder Advisory Services Inc.'s holdings in Palo Alto Networks were worth $2,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Transce3nd LLC purchased a new position in shares of Palo Alto Networks during the 4th quarter worth about $25,000. Strategic Investment Solutions Inc. IL raised 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 acquiring an additional 55 shares in the last quarter. Anchor Investment Management LLC raised 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 acquiring an additional 78 shares in the last quarter. Kiely Wealth Advisory Group Inc. increased its stake in 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 valued at $29,000 after purchasing an additional 75 shares in the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in Palo Alto Networks during the 4th quarter valued at approximately $29,000. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Trading Down 0.4%

Palo Alto Networks stock traded down $0.72 during midday trading on Friday, reaching $172.88. The stock had a trading volume of 16,231,498 shares, compared to its average volume of 5,904,851. The company has a fifty day moving average price of $196.32 and a two-hundred day moving average price of $187.19. The company has a market capitalization of $115.28 billion, a P/E ratio of 98.79, a PEG ratio of 5.11 and a beta of 0.97. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $210.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released 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 analyst estimates of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. Palo Alto Networks's quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 earnings per share. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Josh D. Paul sold 800 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $201.05, for a total value of $160,840.00. Following the completion of the transaction, the chief accounting officer directly owned 42,033 shares of the company's stock, valued at $8,450,734.65. This trade represents a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction on Monday, May 5th. The stock was 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 directly owned 293,010 shares of the company's stock, valued at $55,458,002.70. The trade was a 29.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 569,248 shares of company stock valued at $111,279,829 in the last quarter. 2.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on PANW. Hsbc Global Res raised shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 10th. Stephens cut shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Guggenheim restated a "sell" rating and set a $130.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Jefferies Financial Group set a $235.00 price target on shares of Palo Alto Networks in a research report on Tuesday. Finally, Morgan Stanley lowered their price objective 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. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $209.61.

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.