Northeast Investment Management Increases Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Northeast Investment Management increased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 73.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 99,460 shares of the network technology company's stock after acquiring an additional 42,226 shares during the period. Northeast Investment Management's holdings in Palo Alto Networks were worth $16,972,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PANW. Transce3nd LLC acquired a new position in Palo Alto Networks in the 4th quarter valued at about $25,000. Strategic Investment Solutions Inc. IL grew its holdings in shares of Palo Alto Networks by 64.0% in 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 in the last quarter. Atlantic Edge Private Wealth Management LLC increased its stake in Palo Alto Networks by 265.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock worth $27,000 after buying an additional 106 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in Palo Alto Networks by 102.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock worth $28,000 after buying an additional 79 shares in the last quarter. Finally, Anchor Investment Management LLC boosted its position in Palo Alto Networks by 100.0% in the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock valued at $28,000 after buying an additional 78 shares during the period. Institutional investors and hedge funds own 79.82% of the company's stock.

Palo Alto Networks Stock Performance

NASDAQ:PANW traded up $4.92 during trading hours on Thursday, hitting $199.31. The company's stock had a trading volume of 2,279,615 shares, compared to its average volume of 5,482,207. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $208.39. The business's 50-day moving average is $182.38 and its two-hundred day moving average is $185.09. The company has a market capitalization of $132.90 billion, a PE ratio of 112.29, a PEG ratio of 5.64 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The business's revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 EPS. As a group, analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the completion of the transaction, the executive vice president now directly owns 321,774 shares in the company, valued at $48,629,704.62. The trade was a 27.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Nikesh Arora sold 227,414 shares of Palo Alto Networks stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total value of $39,281,220.22. Following the completion of the sale, the chief executive officer now directly owns 317,571 shares of the company's stock, valued at approximately $54,854,038.83. This represents a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 789,736 shares of company stock valued at $139,837,528 in the last ninety days. Corporate insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PANW. Westpark Capital reaffirmed a "hold" rating and issued a $196.40 price target on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Guggenheim reiterated a "sell" rating and issued a $130.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Rosenblatt Securities reissued a "buy" rating and issued a $235.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 20th. Northland Securities cut their price target on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 21st. Finally, JPMorgan Chase & Co. lowered their price objective on 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. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $208.00.

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.