Mission Wealth Management LP Has $5.41 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Mission Wealth Management LP boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,716 shares of the network technology company's stock after acquiring an additional 1,704 shares during the quarter. Mission Wealth Management LP's holdings in Palo Alto Networks were worth $5,412,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Uniting Wealth Partners LLC purchased a new position in Palo Alto Networks in the 4th quarter valued at about $548,000. Rehmann Capital Advisory Group lifted its stake in shares of Palo Alto Networks by 106.4% during the fourth quarter. Rehmann Capital Advisory Group now owns 2,378 shares of the network technology company's stock valued at $433,000 after buying an additional 1,226 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in Palo Alto Networks by 94.3% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company's stock worth $2,122,000 after acquiring an additional 5,658 shares during the last quarter. Knights of Columbus Asset Advisors LLC grew its stake in Palo Alto Networks by 108.1% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 21,354 shares of the network technology company's stock worth $3,886,000 after acquiring an additional 11,095 shares during the period. Finally, National Pension Service raised its holdings in Palo Alto Networks by 82.1% in the 4th quarter. National Pension Service now owns 1,345,740 shares of the network technology company's stock valued at $244,871,000 after acquiring an additional 606,778 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Insider Activity

In other Palo Alto Networks news, CEO Nikesh Arora sold 227,414 shares of the firm's 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 transaction, the chief executive officer now owns 317,571 shares in the company, valued at $54,854,038.83. This trade represents a 41.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $165.41, for a total value of $16,541,000.00. Following the completion of the transaction, the executive vice president now owns 3,543,516 shares in the company, valued at $586,132,981.56. The trade was a 2.74% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 789,736 shares of company stock valued at $139,837,528. 2.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PANW. 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 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. Jefferies Financial Group increased their target price on Palo Alto Networks from $215.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Susquehanna boosted their price target on Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company raised their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $208.00.

Palo Alto Networks Price Performance

Palo Alto Networks stock traded up $1.84 during trading hours on Monday, hitting $198.11. The company had a trading volume of 4,133,328 shares, compared to its average volume of 5,479,398. The firm has a 50-day moving average of $184.15 and a 200 day moving average of $185.01. The firm has a market cap of $132.10 billion, a PE ratio of 111.61, a PEG ratio of 5.64 and a beta of 0.97. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping 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 return on equity of 21.93% and a net margin of 14.64%. The firm's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 earnings per share. As a group, research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Palo Alto Networks 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.