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Nisa Investment Advisors LLC Acquires 10,180 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Palo Alto Networks logo with Computer and Technology background

Nisa Investment Advisors LLC raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 8.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 137,663 shares of the network technology company's stock after buying an additional 10,180 shares during the quarter. Nisa Investment Advisors LLC's holdings in Palo Alto Networks were worth $23,491,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Uniting Wealth Partners LLC acquired a new position in shares of Palo Alto Networks during the fourth quarter valued at $548,000. Rehmann Capital Advisory Group grew its holdings in 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 worth $433,000 after acquiring an additional 1,226 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings 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 period. Knights of Columbus Asset Advisors LLC grew its holdings in Palo Alto Networks by 108.1% during the fourth 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, GAMMA Investing LLC grew its holdings in Palo Alto Networks by 10.8% during the first quarter. GAMMA Investing LLC now owns 14,125 shares of the network technology company's stock worth $2,410,000 after acquiring an additional 1,374 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Stock Down 6.8%

NASDAQ:PANW traded down $13.99 during trading hours on Thursday, reaching $192.07. The company had a trading volume of 9,212,891 shares, compared to its average volume of 5,405,109. The stock has a 50-day moving average of $194.93 and a two-hundred day moving average of $185.76. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39. The firm has a market capitalization of $128.07 billion, a PE ratio of 109.75, a PEG ratio of 5.69 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 firm had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The business's revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 earnings per share. As a group, sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Jefferies Financial Group lifted their target price on Palo Alto Networks from $215.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Guggenheim reaffirmed a "sell" rating and set a $130.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Rosenblatt Securities reaffirmed a "buy" rating and set a $235.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 20th. KeyCorp reaffirmed an "overweight" rating and set a $220.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Finally, Sanford C. Bernstein set a $225.00 price target on Palo Alto Networks and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $208.00.

Read Our Latest Analysis on Palo Alto Networks

Insider Activity at Palo Alto Networks

In other news, Director Aparna Bawa sold 526 shares of the company's stock in a transaction 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 owned 8,632 shares of the company's stock, valued at $1,640,080. This represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Dipak Golechha sold 5,000 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $201.85, for a total value of $1,009,250.00. Following the transaction, the executive vice president directly owned 101,135 shares in the company, valued at $20,414,099.75. This trade represents a 4.71% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 669,248 shares of company stock valued at $127,820,829. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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