Journey Strategic Wealth LLC Increases Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Journey Strategic Wealth LLC lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 280.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,998 shares of the network technology company's stock after buying an additional 5,157 shares during the quarter. Journey Strategic Wealth LLC's holdings in Palo Alto Networks were worth $1,194,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PANW. Transce3nd LLC purchased a new stake in Palo Alto Networks in the fourth quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL raised its stake in 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. Kiely Wealth Advisory Group Inc. raised its stake in Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock valued at $29,000 after purchasing an additional 75 shares in the last quarter. Anchor Investment Management LLC raised its stake in Palo Alto Networks by 100.0% in 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. Finally, Capital A Wealth Management LLC purchased a new stake in Palo Alto Networks in the fourth quarter valued at approximately $29,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Up 1.0%

PANW stock traded up $1.94 during midday trading on Thursday, hitting $201.16. The company's stock had a trading volume of 2,883,962 shares, compared to its average volume of 4,407,045. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39. The firm has a market capitalization of $134.13 billion, a price-to-earnings ratio of 114.95, a price-to-earnings-growth ratio of 5.56 and a beta of 0.97. The company has a 50 day moving average of $196.14 and a two-hundred day moving average of $186.53.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 19.48% and a net margin of 13.95%. The company's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 EPS. On average, analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

In related news, CAO Josh D. Paul sold 600 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $204.00, for a total transaction of $122,400.00. Following the sale, the chief accounting officer owned 41,433 shares in the company, valued at approximately $8,452,332. This represents a 1.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Aparna Bawa sold 526 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $190.00, for a total value of $99,940.00. Following the sale, the director owned 8,632 shares in the company, 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 569,248 shares of company stock worth $111,279,829 in the last ninety days. Corporate insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $223.00 price target on shares of Palo Alto Networks in a research note on Monday, May 19th. KeyCorp restated an "overweight" rating and issued a $220.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Rosenblatt Securities reiterated a "buy" rating and issued a $235.00 price target on shares of Palo Alto Networks in a report on Tuesday, May 20th. Sanford C. Bernstein set a $225.00 price target on shares of Palo Alto Networks and gave the company an "outperform" rating in a report on Wednesday, May 21st. Finally, Roth Capital assumed coverage on shares of Palo Alto Networks in a report on Thursday, May 15th. They issued a "neutral" rating and a $210.00 price target on the stock. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $209.42.

About Palo Alto Networks

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.