Stratos Investment Management LLC Makes New Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

Stratos Investment Management LLC bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,244 shares of the network technology company's stock, valued at approximately $212,000.

Other hedge funds also recently made changes to their positions in the company. Uniting Wealth Partners LLC acquired a new position in Palo Alto Networks during the 4th quarter valued at approximately $548,000. Rehmann Capital Advisory Group boosted its position in 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 valued at $433,000 after purchasing an additional 1,226 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in 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 during the period. Knights of Columbus Asset Advisors LLC boosted its position in Palo Alto Networks by 108.1% during 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 boosted its position in Palo Alto Networks by 10.8% during 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.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the business's stock in a transaction dated Monday, June 23rd. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Josh D. Paul sold 800 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $201.05, for a total value 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 $8,450,734.65. This represents a 1.87% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 669,248 shares of company stock valued at $127,820,829. Corporate insiders own 2.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PANW. Sanford C. Bernstein set a $225.00 target price on Palo Alto Networks and gave the company an "outperform" rating in a research note on Wednesday, May 21st. Wells Fargo & Company lifted their target price on Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. KeyCorp reaffirmed an "overweight" rating and set a $220.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Barclays cut their target price on Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 21st. Finally, Jefferies Financial Group lifted their target price on Palo Alto Networks from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $208.00.

Palo Alto Networks Trading Down 6.8%

NASDAQ PANW traded down $13.99 on Thursday, reaching $192.07. The stock had a trading volume of 9,212,891 shares, compared to its average volume of 5,399,866. The business has a 50 day moving average price of $194.93 and a 200 day moving average price of $185.76. 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 capitalization of $128.07 billion, a price-to-earnings ratio of 109.75, a P/E/G ratio of 5.69 and a beta of 0.97.

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