Vestmark Advisory Solutions Inc. Acquires 18,102 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Key Points

• Vestmark Advisory Solutions Inc. significantly increased its holdings in Palo Alto Networks by 96.5%, acquiring 18,102 additional shares and valuing their total stake at $6.29 million.
• Recent reports show a mix of analyst ratings for Palo Alto Networks, with a majority rating it as a Moderate Buy and an average target price of $217.01.
• Insider activity has been notable, with two executive vice presidents selling a combined 220,774 shares recently, reflecting a decrease in their holdings.

Vestmark Advisory Solutions Inc. boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 96.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,866 shares of the network technology company's stock after purchasing an additional 18,102 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Palo Alto Networks were worth $6,291,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Transce3nd LLC purchased a new position in shares of Palo Alto Networks in the fourth quarter valued at about $25,000. Strategic Investment Solutions Inc. IL increased its position in shares of Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after acquiring an additional 55 shares during the period. Anchor Investment Management LLC increased its position in shares of Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock valued at $28,000 after acquiring an additional 78 shares during the period. Capital A Wealth Management LLC purchased a new position in shares of Palo Alto Networks in the fourth quarter valued at about $29,000. Finally, HWG Holdings LP purchased a new position in shares of Palo Alto Networks in the first quarter valued at about $31,000. 79.82% of the stock is owned by institutional investors.

Insider Activity at Palo Alto Networks

In related news, EVP Dipak Golechha sold 5,000 shares of the firm's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the completion of the transaction, the executive vice president directly owned 101,135 shares of the company's stock, valued at approximately $20,414,099.75. This trade represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Aparna Bawa sold 526 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $190.00, for a total transaction of $99,940.00. Following the transaction, the director directly owned 8,632 shares of the company's stock, valued at $1,640,080. The trade was a 5.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 669,248 shares of company stock valued at $126,423,337 in the last ninety days. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW traded up $3.54 during midday trading on Friday, reaching $177.09. The stock had a trading volume of 9,535,538 shares, compared to its average volume of 11,219,376. The stock has a 50-day moving average of $192.00 and a 200-day moving average of $186.41. The company has a market capitalization of $118.08 billion, a price-to-earnings ratio of 101.19, a price-to-earnings-growth ratio of 4.34 and a beta of 0.94. Palo Alto Networks, Inc. has a 12-month low of $144.15 and a 12-month high of $210.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 13.95% and a return on equity of 19.48%. The company's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 earnings per share. As a group, analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analysts Set New Price Targets

PANW has been the topic of several research analyst reports. UBS Group set a $185.00 price target on shares of Palo Alto Networks and gave the company a "neutral" rating in a research report on Tuesday. Stephens cut shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. TD Securities reiterated a "buy" rating and set a $230.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Barclays reduced 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. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $223.00 price target on shares of Palo Alto Networks in a research report on Friday. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $217.01.

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.