Poinciana Advisors Group LLC Takes $221,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Poinciana Advisors Group LLC bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,295 shares of the network technology company's stock, valued at approximately $221,000.

A number of other hedge funds also recently made changes to their positions in the stock. Transce3nd LLC bought a new position in shares of Palo Alto Networks during the 4th quarter worth $25,000. Strategic Investment Solutions Inc. IL grew its holdings in shares of Palo Alto Networks by 64.0% during the 4th 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 last quarter. Anchor Investment Management LLC boosted its position in 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 buying an additional 78 shares during the period. Kiely Wealth Advisory Group Inc. raised its holdings in shares of Palo Alto Networks by 100.0% during the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock valued at $29,000 after acquiring an additional 75 shares in the last quarter. Finally, Capital A Wealth Management LLC purchased a new stake in Palo Alto Networks in the fourth quarter worth about $29,000. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Stock Performance

Shares of PANW stock traded down $13.99 during mid-day trading on Thursday, hitting $192.07. The company's stock had a trading volume of 9,212,891 shares, compared to its average volume of 5,405,109. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $208.39. The stock has a market cap of $128.07 billion, a price-to-earnings ratio of 121.21, a PEG ratio of 5.75 and a beta of 0.97. The business has a 50-day moving average price of $194.93 and a 200 day moving average price of $185.76.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The company had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.28 billion. During the same period in the previous year, the firm earned $0.66 EPS. The firm's revenue was up 15.3% compared to the same quarter last year. Equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Aparna Bawa sold 526 shares of the stock in a transaction that occurred 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 transaction, the director owned 8,632 shares in the company, valued at approximately $1,640,080. This represents a 5.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nir Zuk sold 100,000 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $193.36, for a total transaction of $19,336,000.00. Following the completion of the transaction, the executive vice president owned 3,343,516 shares of the company's stock, valued at approximately $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 three months, insiders sold 669,248 shares of company stock worth $127,820,829. 2.50% of the stock is owned by company insiders.

Analyst Ratings Changes

PANW has been the subject of a number of recent analyst reports. Roth Capital began coverage on Palo Alto Networks in a research report on Thursday, May 15th. They issued a "neutral" rating and a $210.00 target price for the company. Guggenheim reaffirmed a "sell" rating and issued a $130.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. Hsbc Global Res raised Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 10th. Barclays decreased their price target on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. Finally, TD Securities restated a "buy" rating and set a $230.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $208.00.

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.