Red Door Wealth Management LLC Invests $542,000 in Palo Alto Networks, Inc. (NASDAQ:PANW)

Red Door Wealth Management LLC acquired a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,179 shares of the network technology company's stock, valued at approximately $542,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Uniting Wealth Partners LLC purchased a new position in Palo Alto Networks during the fourth quarter valued at approximately $548,000. Rehmann Capital Advisory Group grew its stake in shares of Palo Alto Networks by 106.4% during the 4th quarter. Rehmann Capital Advisory Group now owns 2,378 shares of the network technology company's stock worth $433,000 after purchasing an additional 1,226 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Palo Alto Networks by 94.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company's stock valued at $2,122,000 after purchasing an additional 5,658 shares in the last quarter. Knights of Columbus Asset Advisors LLC lifted its stake in shares of Palo Alto Networks by 108.1% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 21,354 shares of the network technology company's stock valued at $3,886,000 after purchasing an additional 11,095 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Palo Alto Networks by 10.8% in the 1st quarter. GAMMA Investing LLC now owns 14,125 shares of the network technology company's stock valued at $2,410,000 after purchasing an additional 1,374 shares during the period. Institutional investors and hedge funds own 79.82% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of Palo Alto Networks from $215.00 to $225.00 and gave the company a "buy" rating in a report on Friday, May 16th. HSBC upgraded Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price target for the company in a research note on Thursday, April 10th. Morgan Stanley lowered their price target on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. KeyCorp reissued an "overweight" rating and issued a $220.00 price objective on shares of Palo Alto Networks in a report on Wednesday, May 21st. Finally, TD Securities reaffirmed a "buy" rating and set a $230.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Two 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $208.00.

Insider Activity

In other Palo Alto Networks news, CEO Nikesh Arora sold 227,414 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total value of $39,281,220.22. Following the sale, the chief executive officer owned 317,571 shares of the company's stock, valued at $54,854,038.83. This trade represents a 41.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Josh D. Paul sold 800 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $201.05, for a total transaction of $160,840.00. Following the sale, the chief accounting officer owned 42,033 shares in the company, valued at $8,450,734.65. The trade was a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 795,536 shares of company stock worth $141,007,618 over the last three months. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Performance

Shares of PANW traded up $4.07 during mid-day trading on Monday, hitting $204.64. 4,347,614 shares of the company's stock were exchanged, compared to its average volume of 5,391,655. The stock's 50-day moving average is $190.70 and its 200-day moving average is $185.23. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39. The company has a market cap of $136.45 billion, a price-to-earnings ratio of 116.94, a P/E/G ratio of 5.60 and a beta of 0.97.

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

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.