Strategic Advocates LLC Boosts Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Key Points

• Strategic Advocates LLC increased its holdings in Palo Alto Networks by 14.0%, now owning 12,548 shares valued at approximately $2.14 million.
• Palo Alto Networks reported a quarterly earnings per share of $0.80, exceeding analysts' expectations of $0.77, and showing a 15.3% revenue increase year-over-year.
• Currently, over 79.82% of Palo Alto Networks stock is held by institutional investors and hedge funds, indicating strong institutional interest in the company.

Strategic Advocates LLC increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 14.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,548 shares of the network technology company's stock after acquiring an additional 1,537 shares during the period. Palo Alto Networks comprises about 0.7% of Strategic Advocates LLC's portfolio, making the stock its 25th largest position. Strategic Advocates LLC's holdings in Palo Alto Networks were worth $2,141,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its stake in Palo Alto Networks by 147.7% in the 4th quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company's stock valued at $1,230,000 after buying an additional 4,031 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in Palo Alto Networks by 115.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 43,985 shares of the network technology company's stock valued at $8,004,000 after buying an additional 23,586 shares during the last quarter. Cynosure Group LLC increased its stake in Palo Alto Networks by 32.6% in the 4th quarter. Cynosure Group LLC now owns 1,488 shares of the network technology company's stock valued at $271,000 after buying an additional 366 shares during the last quarter. OneAscent Financial Services LLC increased its stake in Palo Alto Networks by 119.5% in the 4th quarter. OneAscent Financial Services LLC now owns 1,995 shares of the network technology company's stock valued at $363,000 after buying an additional 1,086 shares during the last quarter. Finally, Disciplined Investors L.L.C. acquired a new stake in Palo Alto Networks in the 4th quarter valued at $235,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Trading Down 0.4%

NASDAQ PANW traded down $0.72 on Friday, hitting $172.88. 16,231,498 shares of the company were exchanged, compared to its average volume of 7,730,412. The company has a market cap of $115.28 billion, a PE ratio of 98.79, a PEG ratio of 4.85 and a beta of 0.95. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $210.39. The stock has a fifty day moving average of $196.04 and a 200-day moving average of $187.20.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share 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 firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period last year, the firm earned $0.66 earnings per share. The business's quarterly revenue was up 15.3% compared to the same quarter last year. On average, analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, Director Aparna Bawa sold 526 shares of the firm's stock in a transaction 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 directly owned 8,632 shares of the company's stock, valued at approximately $1,640,080. This trade represents a 5.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $189.27, for a total transaction of $22,858,894.98. Following the transaction, the executive vice president directly owned 293,010 shares in the company, valued at $55,458,002.70. The trade was a 29.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 569,248 shares of company stock valued at $111,279,829. Corporate insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Jefferies Financial Group set a $235.00 price target on shares of Palo Alto Networks in a research note on Tuesday. Roth Capital began coverage on shares of Palo Alto Networks in a research note on Thursday, May 15th. They set a "neutral" rating and a $210.00 price objective on the stock. HSBC upgraded shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective on the stock in a research note on Thursday, April 10th. Northland Securities lowered their price objective on shares of Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 21st. Finally, Wells Fargo & Company boosted their price objective 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, fourteen have given a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $209.61.

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.