Wakefield Asset Management LLLP Takes Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Wakefield Asset Management LLLP bought a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,454 shares of the network technology company's stock, valued at approximately $248,000.

Other large investors also recently added to or reduced their stakes in the company. Transce3nd LLC bought a new position in Palo Alto Networks during the fourth quarter valued at $25,000. Strategic Investment Solutions Inc. IL grew its holdings in 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. Anchor Investment Management LLC grew its holdings in Palo Alto Networks by 100.0% during the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after acquiring an additional 78 shares in the last quarter. Kiely Wealth Advisory Group Inc. grew its holdings in Palo Alto Networks by 100.0% during the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after acquiring an additional 75 shares in the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in shares of Palo Alto Networks in the 4th quarter valued at about $29,000. 79.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $189.27, for a total value of $22,858,894.98. Following the transaction, the executive vice president directly owned 293,010 shares in the company, valued at approximately $55,458,002.70. This represents a 29.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dipak Golechha sold 5,000 shares of the company's stock in a transaction dated 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 owned 101,135 shares in the company, valued at approximately $20,414,099.75. This trade represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 569,248 shares of company stock worth $111,279,829. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Trading Up 1.0%

NASDAQ PANW traded up $2.11 during trading hours on Friday, reaching $203.27. The company had a trading volume of 3,457,359 shares, compared to its average volume of 5,372,287. The stock has a market capitalization of $135.54 billion, a P/E ratio of 116.15, a price-to-earnings-growth ratio of 5.56 and a beta of 0.97. The stock has a 50-day moving average of $196.14 and a 200 day moving average of $186.53. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39.

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, topping 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 19.48% and a net margin of 13.95%. Palo Alto Networks's revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 EPS. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

PANW has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. HSBC raised shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price target for the company in a research report on Thursday, April 10th. KeyCorp reissued an "overweight" rating and set a $220.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Roth Capital started coverage on shares of Palo Alto Networks in a research report on Thursday, May 15th. They set a "neutral" rating and a $210.00 price target for the company. Finally, 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. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks currently has an average rating of "Moderate Buy" and an average target price of $209.42.

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.