Palo Alto Networks, Inc. (NASDAQ:PANW) Stake Lifted by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 2.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 352,158 shares of the network technology company's stock after acquiring an additional 7,797 shares during the quarter. Janney Montgomery Scott LLC owned about 0.05% of Palo Alto Networks worth $60,092,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PANW. Transce3nd LLC acquired a new stake in shares of Palo Alto Networks in the fourth quarter valued at $25,000. Strategic Investment Solutions Inc. IL raised its position 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 worth $26,000 after acquiring an additional 55 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock valued at $28,000 after acquiring an additional 79 shares during the last quarter. Anchor Investment Management LLC boosted its position in shares of Palo Alto Networks by 100.0% during the 4th 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, Kiely Wealth Advisory Group Inc. boosted its position in shares of Palo Alto Networks by 100.0% during the 4th 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. Institutional investors own 79.82% of the company's stock.

Insider Transactions at Palo Alto Networks

In related news, EVP Lee Klarich sold 120,774 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the transaction, the executive vice president now owns 321,774 shares of the company's stock, valued at $48,629,704.62. This represents a 27.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $193.36, for a total transaction of $19,336,000.00. Following the transaction, the executive vice president now owns 3,343,516 shares of the company's stock, valued at approximately $646,502,253.76. This represents a 2.90% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 789,736 shares of company stock valued at $139,837,528. Company insiders own 2.50% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on PANW. Stephens lowered shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $235.00 price target on shares of Palo Alto Networks in a report on Tuesday, May 20th. Wells Fargo & Company raised their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Barclays decreased 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. Finally, Morgan Stanley reduced their target price on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $208.00.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $198.11 on Tuesday. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $208.39. The company has a market cap of $132.10 billion, a price-to-earnings ratio of 111.61, a PEG ratio of 5.64 and a beta of 0.97. The firm's 50-day moving average is $185.07 and its 200-day moving average is $185.04.

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 analysts' consensus estimates of $0.77 by $0.03. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the company posted $0.66 earnings per share. Palo Alto Networks's revenue was up 15.3% on a year-over-year basis. Equities analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

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.

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