Silver Oak Securities Incorporated Boosts Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Silver Oak Securities Incorporated increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 90.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,412 shares of the network technology company's stock after purchasing an additional 5,899 shares during the period. Silver Oak Securities Incorporated's holdings in Palo Alto Networks were worth $2,144,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL boosted 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 valued at $26,000 after buying an additional 55 shares in the last quarter. JDM Financial Group LLC raised its stake in shares of 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 acquiring an additional 59 shares in the last quarter. WealthBridge Capital Management LLC lifted its position in Palo Alto Networks by 2.0% during the first quarter. WealthBridge Capital Management LLC now owns 3,067 shares of the network technology company's stock valued at $523,000 after acquiring an additional 61 shares during the last quarter. Penobscot Investment Management Company Inc. boosted its stake in Palo Alto Networks by 0.3% in the first quarter. Penobscot Investment Management Company Inc. now owns 18,983 shares of the network technology company's stock valued at $3,239,000 after acquiring an additional 63 shares in the last quarter. Finally, Adero Partners LLC grew its holdings in Palo Alto Networks by 4.3% in the first quarter. Adero Partners LLC now owns 1,556 shares of the network technology company's stock worth $266,000 after purchasing an additional 64 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

PANW stock traded up $4.53 during midday trading on Friday, hitting $201.50. 2,561,725 shares of the stock traded hands, compared to its average volume of 5,398,532. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39. The stock's fifty day simple moving average is $193.35 and its 200-day simple moving average is $185.44. The firm has a market cap of $134.36 billion, a P/E ratio of 115.14, a PEG ratio of 5.63 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the company posted $0.66 EPS. The company's revenue for the quarter was up 15.3% on a year-over-year basis. On average, research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Morgan Stanley reduced their target price 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. Barclays lowered their price target on Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a report on Wednesday, May 21st. Truist Financial dropped their price target on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Finally, Sanford C. Bernstein set a $225.00 price objective on shares of Palo Alto Networks and gave the company an "outperform" rating in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $208.00.

Insiders Place Their Bets

In other news, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the transaction, the executive vice president owned 101,135 shares in the company, valued at $20,414,099.75. This trade represents a 4.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Josh D. Paul sold 800 shares of the business's stock in a transaction 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 completion of the sale, the chief accounting officer directly owned 42,033 shares of the company's stock, valued at approximately $8,450,734.65. The trade was a 1.87% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 668,722 shares of company stock worth $121,714,798. Company insiders own 2.50% of the company's stock.

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.