14,338 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Bought by Petredis Investment Advisors LLC

Petredis Investment Advisors LLC bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 14,338 shares of the network technology company's stock, valued at approximately $2,447,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL raised its position in shares of Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after buying an additional 55 shares during the period. JDM Financial Group LLC increased its position in Palo Alto Networks by 22.4% during the 4th quarter. JDM Financial Group LLC now owns 322 shares of the network technology company's stock worth $59,000 after purchasing an additional 59 shares in the last quarter. Snider Financial Group raised its holdings in Palo Alto Networks by 0.4% in the first quarter. Snider Financial Group now owns 17,729 shares of the network technology company's stock valued at $3,025,000 after buying an additional 65 shares during the period. Rakuten Securities Inc. lifted its position in Palo Alto Networks by 8.4% during the fourth quarter. Rakuten Securities Inc. now owns 906 shares of the network technology company's stock valued at $165,000 after buying an additional 70 shares in the last quarter. Finally, Quarry LP grew its stake in Palo Alto Networks by 16.9% during the fourth quarter. Quarry LP now owns 511 shares of the network technology company's stock worth $93,000 after buying an additional 74 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW traded down $1.56 during mid-day trading on Wednesday, hitting $194.39. The stock had a trading volume of 3,460,345 shares, compared to its average volume of 5,494,323. The company's 50 day moving average is $181.56 and its 200-day moving average is $185.03. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $208.39. The company has a market cap of $129.62 billion, a PE ratio of 109.52, a P/E/G ratio of 5.64 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its 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. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the business posted $0.66 EPS. The company's revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PANW has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price objective on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 21st. KeyCorp reissued an "overweight" rating and set a $220.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Cantor Fitzgerald restated an "overweight" rating and issued a $223.00 target price on shares of Palo Alto Networks in a research note on Monday, May 19th. Citigroup boosted their price objective on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Finally, Westpark Capital reiterated a "hold" rating and issued a $196.40 price target on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Two equities research 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's stock. According to MarketBeat.com, Palo Alto Networks currently has a consensus rating of "Moderate Buy" and a consensus target price of $208.00.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the sale, the executive vice president now owns 321,774 shares of the company's stock, valued at $48,629,704.62. This trade represents a 27.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Nir Zuk sold 100,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $193.36, for a total value 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 $646,502,253.76. This represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 789,736 shares of company stock worth $139,837,528. Insiders own 2.50% of the company's stock.

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.