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

Telos Capital Management Inc. increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 5.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,813 shares of the network technology company's stock after purchasing an additional 2,893 shares during the period. Palo Alto Networks accounts for about 1.1% of Telos Capital Management Inc.'s investment portfolio, making the stock its 22nd biggest 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 have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Palo Alto Networks by 104.4% in the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock valued at $11,142,122,000 after acquiring an additional 31,281,359 shares during the period. Geode Capital Management LLC boosted its stake in Palo Alto Networks by 87.8% in the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock valued at $2,611,013,000 after acquiring an additional 6,725,148 shares during the period. Norges Bank acquired a new position in Palo Alto Networks in the fourth quarter valued at approximately $970,736,000. Northern Trust Corp boosted its position in shares of Palo Alto Networks by 133.7% during the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock worth $1,427,048,000 after buying an additional 4,486,654 shares during the period. Finally, Capital Research Global Investors boosted its position in shares of Palo Alto Networks by 83.8% during the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock worth $1,533,419,000 after buying an additional 3,841,359 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Performance

NASDAQ:PANW traded down $4.68 during trading hours on Friday, hitting $187.39. 7,403,780 shares of the company's stock traded hands, compared to its average volume of 5,419,524. The firm has a market cap of $124.95 billion, a P/E ratio of 107.08, a P/E/G ratio of 5.23 and a beta of 0.97. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The stock's fifty day moving average price is $195.04 and its two-hundred day moving average price is $185.75.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. Palo Alto Networks's quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 earnings per share. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Activity

In other Palo Alto Networks news, CAO Josh D. Paul sold 800 shares of the company'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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $189.27, for a total value of $22,858,894.98. Following the completion of the transaction, the executive vice president directly owned 293,010 shares in the company, valued at approximately $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. Insiders sold 569,248 shares of company stock valued at $111,279,829 in the last ninety days. Corporate insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PANW shares. Guggenheim reiterated a "sell" rating and set a $130.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Rosenblatt Securities reiterated a "buy" rating and set a $235.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, May 20th. Roth Capital started coverage on Palo Alto Networks in a research report on Thursday, May 15th. They set a "neutral" rating and a $210.00 price objective for the company. Stephens downgraded Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Finally, Hsbc Global Res upgraded Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Palo Alto Networks has a consensus rating of "Moderate Buy" and a consensus price target 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.