TrueWealth Advisors LLC Purchases Shares of 1,723 Palo Alto Networks, Inc. (NASDAQ:PANW)

TrueWealth Advisors LLC acquired a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,723 shares of the network technology company's stock, valued at approximately $294,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. lifted its position in shares of Palo Alto Networks by 18.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 47,605 shares of the network technology company's stock worth $8,123,000 after purchasing an additional 7,580 shares during the last quarter. First Financial Corp IN lifted its position in shares of Palo Alto Networks by 8.6% during the first quarter. First Financial Corp IN now owns 6,757 shares of the network technology company's stock worth $1,153,000 after purchasing an additional 535 shares during the last quarter. Romano Brothers AND Company lifted its position in shares of Palo Alto Networks by 1.8% during the first quarter. Romano Brothers AND Company now owns 6,464 shares of the network technology company's stock worth $1,103,000 after purchasing an additional 116 shares during the last quarter. Smith Anglin Financial LLC lifted its position in shares of Palo Alto Networks by 21.5% during the first quarter. Smith Anglin Financial LLC now owns 1,540 shares of the network technology company's stock worth $263,000 after purchasing an additional 272 shares during the last quarter. Finally, Sentry Investment Management LLC bought a new stake in shares of Palo Alto Networks during the first quarter worth $349,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $195.14, for a total value of $23,567,838.36. Following the sale, the executive vice president now owns 264,246 shares in the company, valued at $51,564,964.44. This represents a 31.37% 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, CEO Nikesh Arora sold 227,414 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 317,571 shares in the company, valued at approximately $54,854,038.83. This represents a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 789,736 shares of company stock worth $139,837,528 over the last quarter. Insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PANW. Northland Securities decreased their target price on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating for the company in a research report on Wednesday, May 21st. Sanford C. Bernstein set a $225.00 target price on Palo Alto Networks and gave the stock an "outperform" rating in a research report on Wednesday, May 21st. Rosenblatt Securities reiterated a "buy" rating and set a $235.00 target price on shares of Palo Alto Networks in a research report on Tuesday, May 20th. KeyCorp restated an "overweight" rating and issued a $220.00 price objective on shares of Palo Alto Networks in a report on Wednesday, May 21st. Finally, Guggenheim restated a "sell" rating and issued a $130.00 price objective on shares of Palo Alto Networks in a report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $208.00.

Palo Alto Networks Trading Up 1.3%

Shares of PANW stock traded up $2.49 during trading hours on Friday, reaching $199.60. 3,304,756 shares of the company's stock were exchanged, compared to its average volume of 5,525,650. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The stock has a market cap of $133.09 billion, a PE ratio of 112.45, a PEG ratio of 5.64 and a beta of 0.97. The stock's fifty day moving average price is $180.48 and its two-hundred day moving average price is $184.92.

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. 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 21.93% and a net margin of 14.64%. Palo Alto Networks's revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 earnings per share. On average, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

About Palo Alto Networks

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.