Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Private Advisor Group LLC

Private Advisor Group LLC increased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 4.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,117 shares of the network technology company's stock after purchasing an additional 3,258 shares during the quarter. Private Advisor Group LLC's holdings in Palo Alto Networks were worth $14,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Transce3nd LLC bought a new position in shares of Palo Alto Networks in the 4th quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL raised its holdings 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 purchasing an additional 55 shares in the last quarter. Kiely Wealth Advisory Group Inc. lifted its position in 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 buying an additional 75 shares during the period. Anchor Investment Management LLC boosted its holdings 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 buying an additional 78 shares in the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in shares of Palo Alto Networks during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 79.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PANW shares. Hsbc Global Res upgraded Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 10th. KeyCorp reaffirmed an "overweight" rating and issued a $220.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Morgan Stanley dropped their price target on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Barclays decreased their target price on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a report on Wednesday, May 21st. Finally, Wells Fargo & Company upped their target price on shares of Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $209.16.

Palo Alto Networks Trading Down 0.3%

Shares of NASDAQ:PANW traded down $0.50 during mid-day trading on Friday, reaching $195.78. The stock had a trading volume of 2,977,409 shares, compared to its average volume of 5,399,551. The business's 50 day moving average price is $195.58 and its 200 day moving average price is $186.06. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The company has a market cap of $130.55 billion, a P/E ratio of 111.87, a price-to-earnings-growth ratio of 5.47 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly 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 13.95% and a return on equity of 19.48%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the firm earned $0.66 earnings per share. Palo Alto Networks's revenue was up 15.3% on a year-over-year basis. Analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Josh D. Paul sold 800 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $201.05, for a total value of $160,840.00. Following the transaction, the chief accounting officer owned 42,033 shares of the company's stock, valued at $8,450,734.65. This represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $201.85, for a total value of $1,009,250.00. Following the completion of the sale, the executive vice president owned 101,135 shares of the company's stock, valued at $20,414,099.75. The trade was a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 569,248 shares of company stock valued at $111,279,829. 2.50% of the stock is currently owned by corporate insiders.

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.