UNICOM Systems Inc. Takes $5.03 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

UNICOM Systems Inc. bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 29,500 shares of the network technology company's stock, valued at approximately $5,034,000. Palo Alto Networks comprises approximately 1.0% of UNICOM Systems Inc.'s portfolio, making the stock its 17th largest holding.

A number of other institutional investors also recently modified their holdings of PANW. Strategic Investment Solutions Inc. IL boosted its position in shares of Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Crew Capital Management Ltd. boosted its position in shares of Palo Alto Networks by 2.5% during the 1st quarter. Crew Capital Management Ltd. now owns 2,310 shares of the network technology company's stock worth $394,000 after acquiring an additional 57 shares in the last quarter. JDM Financial Group LLC boosted its position in shares of Palo Alto Networks by 22.4% during the 4th quarter. JDM Financial Group LLC now owns 322 shares of the network technology company's stock worth $59,000 after acquiring an additional 59 shares in the last quarter. WealthBridge Capital Management LLC boosted its position in shares of Palo Alto Networks by 2.0% during the 1st quarter. WealthBridge Capital Management LLC now owns 3,067 shares of the network technology company's stock worth $523,000 after acquiring an additional 61 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. boosted its position in shares of Palo Alto Networks by 0.3% during the 1st quarter. Penobscot Investment Management Company Inc. now owns 18,983 shares of the network technology company's stock worth $3,239,000 after acquiring an additional 63 shares in the last quarter. Institutional investors own 79.82% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PANW shares. Morgan Stanley reduced their price target on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. KeyCorp reiterated an "overweight" rating and set a $220.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Sanford C. Bernstein set a $225.00 price target on shares of Palo Alto Networks and gave the stock an "outperform" rating in a research report on Wednesday, May 21st. Guggenheim reiterated a "sell" rating and set a $130.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Finally, Stephens lowered shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. 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 MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $208.00.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction on Monday, July 7th. The shares were sold at an average price of $200.86, for a total value of $24,258,665.64. Following the completion of the sale, the executive vice president directly owned 235,482 shares of the company's stock, valued at approximately $47,298,914.52. The trade was a 33.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $198.66, for a total transaction of $19,866,000.00. Following the completion of the sale, the executive vice president directly owned 3,243,516 shares of the company's stock, valued at approximately $644,356,888.56. This trade represents a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 569,248 shares of company stock valued at $111,279,829. 2.50% of the stock is owned by insiders.

Palo Alto Networks Price Performance

NASDAQ PANW traded up $3.69 during mid-day trading on Thursday, reaching $196.28. 4,297,753 shares of the stock were exchanged, compared to its average volume of 5,411,937. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39. The stock has a 50 day simple moving average of $195.41 and a 200-day simple moving average of $185.94. The stock has a market cap of $130.88 billion, a P/E ratio of 112.16, a P/E/G ratio of 5.38 and a beta of 0.97.

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

Palo Alto Networks Company 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.