Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Dillon & Associates Inc.

Key Points

• Dillon & Associates Inc. increased its stake in Palo Alto Networks by 3.1%, now holding 104,831 shares valued at approximately $17.93 million.
• Palo Alto Networks stock is currently trading at $167.06, down 0.6%, with a market cap of $111.40 billion and a PE ratio of 95.46.
• Several analysts have issued upgrades and downgrades, with target prices ranging from $210.00 to $235.00, reflecting a consensus rating of "Moderate Buy."

Dillon & Associates Inc. grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,831 shares of the network technology company's stock after purchasing an additional 3,128 shares during the quarter. Palo Alto Networks makes up 2.7% of Dillon & Associates Inc.'s portfolio, making the stock its 11th largest holding. Dillon & Associates Inc.'s holdings in Palo Alto Networks were worth $17,926,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Transce3nd LLC acquired a new stake in Palo Alto Networks in the 4th quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL increased its holdings in shares of 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. Anchor Investment Management LLC raised its stake in shares of Palo Alto Networks by 100.0% during the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock valued at $28,000 after purchasing an additional 78 shares in the last quarter. Capital A Wealth Management LLC bought a new stake in shares of Palo Alto Networks during the fourth quarter valued at about $29,000. Finally, HWG Holdings LP acquired a new stake in Palo Alto Networks in the first quarter worth about $31,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Down 0.6%

Shares of Palo Alto Networks stock opened at $167.06 on Monday. The business has a fifty day simple moving average of $194.23 and a 200 day simple moving average of $186.91. The stock has a market cap of $111.40 billion, a PE ratio of 95.46, a price-to-earnings-growth ratio of 3.96 and a beta of 0.94. Palo Alto Networks, Inc. has a 12 month low of $144.15 and a 12 month high of $210.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm 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 13.95% and a return on equity of 19.48%. The business's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 earnings per share. Analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Jefferies Financial Group set a $235.00 target price on shares of Palo Alto Networks in a research note on Tuesday, July 29th. Barclays dropped their target price on Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a report on Wednesday, May 21st. Roth Capital assumed coverage on Palo Alto Networks in a research note on Thursday, May 15th. They set a "neutral" rating and a $210.00 price target for the company. DA Davidson dropped their price objective on Palo Alto Networks from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Finally, Wells Fargo & Company lifted their target price 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 equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $209.61.

Insider Transactions at Palo Alto Networks

In related news, EVP Nir Zuk sold 100,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $172.80, for a total transaction of $17,280,000.00. Following the completion of the sale, the executive vice president directly owned 3,143,516 shares of the company's stock, valued at approximately $543,199,564.80. This represents a 3.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $195.14, for a total transaction of $23,567,838.36. Following the sale, the executive vice president owned 264,246 shares in the company, valued at approximately $51,564,964.44. The trade was a 31.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 669,248 shares of company stock valued at $126,423,337. Insiders own 2.50% of the company's stock.

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.

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