Motley Fool Asset Management LLC Grows Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Key Points

• Motley Fool Asset Management LLC increased its holdings in Palo Alto Networks by 6.2%, owning 36,099 shares worth approximately $6.16 million as of the latest SEC filing.
• Several institutional investors have significantly raised their stakes in Palo Alto Networks, with notable increases from Nuveen LLC and Northern Trust Corp, as institutional ownership now stands at 79.82%.
• Palo Alto Networks reported a 15.3% year-over-year revenue growth of $2.29 billion in its recent earnings report, surpassing analyst expectations.

Motley Fool Asset Management LLC lifted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 6.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,099 shares of the network technology company's stock after purchasing an additional 2,122 shares during the period. Motley Fool Asset Management LLC's holdings in Palo Alto Networks were worth $6,160,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Csenge Advisory Group grew its holdings in shares of Palo Alto Networks by 2.4% during the first quarter. Csenge Advisory Group now owns 2,271 shares of the network technology company's stock valued at $381,000 after buying an additional 53 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its position in 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 valued at $26,000 after purchasing an additional 55 shares during the period. SYM FINANCIAL Corp lifted its position in Palo Alto Networks by 1.4% during the first quarter. SYM FINANCIAL Corp now owns 4,047 shares of the network technology company's stock valued at $691,000 after purchasing an additional 55 shares during the period. Crew Capital Management Ltd. lifted its position in Palo Alto Networks by 2.5% during the first quarter. Crew Capital Management Ltd. now owns 2,310 shares of the network technology company's stock valued at $394,000 after purchasing an additional 57 shares during the period. Finally, JDM Financial Group LLC lifted its position in 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 valued at $59,000 after purchasing an additional 59 shares during the period. Hedge funds and other institutional investors own 79.82% of the company's stock.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW traded up $1.11 during mid-day trading on Monday, reaching $168.17. 10,213,853 shares of the company were exchanged, compared to its average volume of 9,916,460. The firm has a market cap of $112.14 billion, a price-to-earnings ratio of 96.10, a P/E/G ratio of 3.96 and a beta of 0.94. The firm's 50-day simple moving average is $193.70 and its 200 day simple moving average is $186.78. Palo Alto Networks, Inc. has a 1 year low of $144.15 and a 1 year high of $210.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The firm's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the company posted $0.66 EPS. On average, research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Nir Zuk sold 100,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $172.80, for a total transaction of $17,280,000.00. Following the completion of the transaction, the executive vice president owned 3,143,516 shares of the company's stock, valued at approximately $543,199,564.80. This trade represents a 3.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Aparna Bawa sold 526 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $190.00, for a total transaction of $99,940.00. Following the transaction, the director directly owned 8,632 shares of the company's stock, valued at $1,640,080. The trade was a 5.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 669,248 shares of company stock worth $126,423,337 in the last three months. 2.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PANW has been the subject of a number of research reports. DA Davidson decreased their target price on shares of Palo Alto Networks from $225.00 to $215.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. JPMorgan Chase & Co. decreased their target price on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. Wells Fargo & Company boosted their target price on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Sanford C. Bernstein set a $225.00 price objective on shares of Palo Alto Networks and gave the stock an "outperform" rating in a research report on Wednesday, May 21st. Finally, Guggenheim reiterated a "sell" rating and issued a $130.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-six have given a buy rating to the company's stock. According to data from MarketBeat.com, Palo Alto Networks currently has an average rating of "Moderate Buy" and a consensus price target of $217.07.

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.