Telos Capital Management Inc. Buys 2,893 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Telos Capital Management Inc. grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,813 shares of the network technology company's stock after acquiring an additional 2,893 shares during the quarter. Palo Alto Networks comprises about 1.1% of Telos Capital Management Inc.'s investment portfolio, making the stock its 22nd largest holding. Telos Capital Management Inc.'s holdings in Palo Alto Networks were worth $10,206,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in shares of Palo Alto Networks by 147.7% during the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company's stock valued at $1,230,000 after purchasing an additional 4,031 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Palo Alto Networks by 115.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 43,985 shares of the network technology company's stock valued at $8,004,000 after purchasing an additional 23,586 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of Palo Alto Networks by 215.8% during the fourth quarter. Proficio Capital Partners LLC now owns 2,416 shares of the network technology company's stock valued at $440,000 after purchasing an additional 1,651 shares in the last quarter. Personal CFO Solutions LLC bought a new stake in shares of Palo Alto Networks during the fourth quarter valued at about $213,000. Finally, AlphaQuest LLC raised its stake in shares of Palo Alto Networks by 8.5% during the fourth quarter. AlphaQuest LLC now owns 2,828 shares of the network technology company's stock valued at $515,000 after purchasing an additional 221 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Analyst Ratings Changes

PANW has been the topic of a number of recent analyst reports. 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. Barclays dropped their price target on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 21st. TD Securities reiterated a "buy" rating and issued a $230.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Guggenheim reiterated a "sell" rating and issued a $130.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Finally, Jefferies Financial Group boosted their price target on shares of Palo Alto Networks from $215.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Two 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 company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $208.00.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW traded down $13.99 during trading hours on Thursday, hitting $192.07. The stock had a trading volume of 9,212,891 shares, compared to its average volume of 5,405,109. The company has a market capitalization of $128.07 billion, a P/E ratio of 109.75, a P/E/G ratio of 5.75 and a beta of 0.97. The firm's 50-day moving average price is $194.93 and its two-hundred day moving average price is $185.76. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The firm's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 EPS. As a group, analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the company's 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 completion of the sale, the executive vice president owned 101,135 shares of the company's stock, valued at $20,414,099.75. This represents a 4.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Josh D. Paul sold 600 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $204.00, for a total value of $122,400.00. Following the sale, the chief accounting officer directly owned 41,433 shares of the company's stock, valued at $8,452,332. The trade was a 1.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 669,248 shares of company stock worth $127,820,829 in the last quarter. Corporate 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.