Virtu Financial LLC Raises Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Key Points

• Virtu Financial LLC increased its holdings in Palo Alto Networks (PANW) by 7.8%, acquiring an additional 1,834 shares, bringing its total holdings to 25,461 shares worth approximately $4.35 million.
• Notable institutional investors, such as Brighton Jones LLC and Bank Pictet & Cie Europe AG, significantly increased their stakes in PANW, indicating strong interest among institutional investors.
• Palo Alto Networks recently reported earnings per share (EPS) of $0.80 for the quarter, surpassing analyst expectations, with a year-over-year revenue growth of 15.3%.

Virtu Financial LLC grew its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 7.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,461 shares of the network technology company's stock after purchasing an additional 1,834 shares during the quarter. Virtu Financial LLC's holdings in Palo Alto Networks were worth $4,345,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Transce3nd LLC purchased a new position in shares of Palo Alto Networks in the 4th quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL boosted its stake in shares of Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after buying an additional 55 shares during the last quarter. Anchor Investment Management LLC boosted its stake in shares of Palo Alto Networks by 100.0% in the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after buying an additional 78 shares during the last quarter. Capital A Wealth Management LLC purchased a new position in shares of Palo Alto Networks in the 4th quarter worth approximately $29,000. Finally, HWG Holdings LP purchased a new position in shares of Palo Alto Networks in the 1st quarter worth approximately $31,000. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Stock Performance

PANW traded up $1.11 during trading on Monday, reaching $168.17. The stock had a trading volume of 10,213,853 shares, compared to its average volume of 6,096,348. The stock has a market cap of $112.14 billion, a PE ratio of 96.10, a PEG ratio of 3.96 and a beta of 0.94. Palo Alto Networks, Inc. has a one year low of $144.15 and a one year high of $210.39. The business has a 50-day moving average of $194.23 and a 200-day moving average of $186.91.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released 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 business had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The firm's revenue 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. Equities research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other news, Director Aparna Bawa sold 526 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $190.00, for a total transaction of $99,940.00. Following the completion of the sale, the director directly owned 8,632 shares in the company, valued at approximately $1,640,080. This represents a 5.74% 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, CAO Josh D. Paul sold 600 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $204.00, for a total transaction of $122,400.00. Following the sale, the chief accounting officer owned 41,433 shares of the company's stock, valued at approximately $8,452,332. This represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 669,248 shares of company stock valued at $126,423,337. 2.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PANW. Rosenblatt Securities restated a "buy" rating and issued a $235.00 target price on shares of Palo Alto Networks in a research note on Thursday, July 31st. Roth Capital began coverage on Palo Alto Networks in a research note on Thursday, May 15th. They issued a "neutral" rating and a $210.00 target price on the stock. 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. Sanford C. Bernstein set a $225.00 price objective on Palo Alto Networks and gave the company an "outperform" rating in a research note on Wednesday, May 21st. Finally, TD Securities reiterated a "buy" rating and issued a $230.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $217.07.

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.