4,522 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Purchased by Tounjian Advisory Partners LLC

Tounjian Advisory Partners LLC acquired a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,522 shares of the network technology company's stock, valued at approximately $772,000.

Other large investors also recently modified their holdings of the company. Uniting Wealth Partners LLC acquired a new position in Palo Alto Networks during the 4th quarter valued at $548,000. Rehmann Capital Advisory Group increased its holdings in shares of 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 worth $433,000 after purchasing an additional 1,226 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of 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 worth $2,122,000 after purchasing an additional 5,658 shares during the period. Knights of Columbus Asset Advisors LLC lifted its stake in shares of Palo Alto Networks by 108.1% in the fourth 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 buying an additional 11,095 shares during the period. Finally, National Pension Service lifted its stake in shares of Palo Alto Networks by 82.1% in the fourth quarter. National Pension Service now owns 1,345,740 shares of the network technology company's stock valued at $244,871,000 after buying an additional 606,778 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Palo Alto Networks news, CEO Nikesh Arora sold 227,414 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total value of $39,281,220.22. Following the transaction, the chief executive officer now directly owns 317,571 shares in the company, valued at $54,854,038.83. The trade was a 41.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of the stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the transaction, the executive vice president now directly owns 3,543,516 shares in the company, valued at $586,132,981.56. The trade was a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 789,736 shares of company stock valued at $139,837,528. 2.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on PANW. Roth Capital initiated coverage on Palo Alto Networks in a report on Thursday, May 15th. They issued a "neutral" rating and a $210.00 price target for the company. Cantor Fitzgerald restated an "overweight" rating and issued a $223.00 target price on shares of Palo Alto Networks in a research note on Monday, May 19th. Barclays decreased 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 note on Wednesday, May 21st. Northland Securities dropped their price objective on shares of Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating for the company in a research note on Wednesday, May 21st. Finally, Guggenheim reiterated a "sell" rating and set a $130.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, Palo Alto Networks currently has an average rating of "Moderate Buy" and an average target price of $208.00.

Palo Alto Networks Trading Down 0.2%

Shares of Palo Alto Networks stock traded down $0.38 during trading hours on Tuesday, reaching $195.95. 2,969,451 shares of the company's stock were exchanged, compared to its average volume of 5,503,672. The stock has a market cap of $130.66 billion, a P/E ratio of 110.39, a P/E/G ratio of 5.64 and a beta of 0.97. The company has a 50 day moving average of $180.94 and a two-hundred day moving average of $184.95. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued 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 firm 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 21.93% and a net margin of 14.64%. The business's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. As a group, analysts expect 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.