Rockline Wealth Management LLC Buys 10,390 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Rockline Wealth Management LLC boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 88.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,139 shares of the network technology company's stock after purchasing an additional 10,390 shares during the quarter. Rockline Wealth Management LLC's holdings in Palo Alto Networks were worth $3,778,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL grew its holdings 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 acquiring an additional 55 shares during the last quarter. JDM Financial Group LLC grew its holdings in shares of Palo Alto Networks by 22.4% in the 4th quarter. JDM Financial Group LLC now owns 322 shares of the network technology company's stock worth $59,000 after acquiring an additional 59 shares during the last quarter. Adero Partners LLC grew its holdings in shares of Palo Alto Networks by 4.3% in the 1st quarter. Adero Partners LLC now owns 1,556 shares of the network technology company's stock worth $266,000 after acquiring an additional 64 shares during the last quarter. Snider Financial Group grew its holdings in shares of Palo Alto Networks by 0.4% in the 1st quarter. Snider Financial Group now owns 17,729 shares of the network technology company's stock worth $3,025,000 after acquiring an additional 65 shares during the last quarter. Finally, Grimes & Company Inc. grew its holdings in shares of Palo Alto Networks by 5.3% in the 1st quarter. Grimes & Company Inc. now owns 1,310 shares of the network technology company's stock worth $224,000 after acquiring an additional 66 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the transaction, the executive vice president now directly owns 321,774 shares in the company, valued at $48,629,704.62. The trade was a 27.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nir Zuk sold 100,000 shares of the business's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total value of $16,541,000.00. Following the transaction, the executive vice president now owns 3,543,516 shares in the company, valued at $586,132,981.56. This represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 789,736 shares of company stock valued at $139,837,528. Insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Down 0.3%

Shares of NASDAQ:PANW traded down $0.54 on Friday, reaching $199.24. The company had a trading volume of 8,285,645 shares, compared to its average volume of 5,444,625. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The stock has a 50-day moving average price of $187.43 and a 200 day moving average price of $185.20. The stock has a market capitalization of $132.85 billion, a P/E ratio of 113.85, a P/E/G ratio of 5.56 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. During the same quarter 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. On average, sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PANW. KeyCorp restated an "overweight" rating and issued a $220.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Roth Capital began coverage on Palo Alto Networks in a report on Thursday, May 15th. They issued a "neutral" rating and a $210.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a 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 report on Monday, May 19th. Finally, HSBC upgraded Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price target on the stock in a report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have issued a buy rating to the company's stock. Based on 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 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.