3,024 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Purchased by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc purchased a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,024 shares of the network technology company's stock, valued at approximately $892,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. MV Capital Management Inc. lifted its holdings in Palo Alto Networks by 37.2% during the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company's stock valued at $32,000 after purchasing an additional 29 shares during the last quarter. Quent Capital LLC raised its stake in shares of Palo Alto Networks by 15.9% in the fourth quarter. Quent Capital LLC now owns 233 shares of the network technology company's stock worth $69,000 after acquiring an additional 32 shares during the last quarter. Parisi Gray Wealth Management raised its stake in shares of Palo Alto Networks by 2.2% in the fourth quarter. Parisi Gray Wealth Management now owns 1,519 shares of the network technology company's stock worth $448,000 after acquiring an additional 33 shares during the last quarter. Argonautica Private Wealth Management Inc. raised its stake in shares of Palo Alto Networks by 2.3% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,527 shares of the network technology company's stock worth $450,000 after acquiring an additional 34 shares during the last quarter. Finally, Howard Financial Services LTD. raised its stake in shares of Palo Alto Networks by 3.4% in the fourth quarter. Howard Financial Services LTD. now owns 1,061 shares of the network technology company's stock worth $313,000 after acquiring an additional 35 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Trading Up 0.9 %

PANW stock traded up $2.63 during mid-day trading on Friday, hitting $291.42. The stock had a trading volume of 2,246,512 shares, compared to its average volume of 3,487,617. Palo Alto Networks, Inc. has a 52 week low of $176.30 and a 52 week high of $380.84. The firm has a market capitalization of $94.16 billion, a P/E ratio of 45.53, a P/E/G ratio of 3.93 and a beta of 1.19. The firm has a fifty day simple moving average of $287.61 and a 200 day simple moving average of $292.35.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Lee Klarich sold 45,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the sale, the executive vice president now directly owns 198,105 shares of the company's stock, valued at approximately $67,955,958.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the sale, the chief accounting officer now directly owns 27,247 shares of the company's stock, valued at approximately $7,629,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Klarich sold 45,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the sale, the executive vice president now directly owns 198,105 shares in the company, valued at $67,955,958.15. The disclosure for this sale can be found here. Insiders have sold a total of 167,917 shares of company stock valued at $49,395,553 in the last ninety days. 3.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PANW. Citigroup boosted their price target on shares of Palo Alto Networks from $280.00 to $335.00 and gave the stock a "buy" rating in a research note on Wednesday, January 10th. Capital One Financial cut shares of Palo Alto Networks from an "overweight" rating to an "equal weight" rating and set a $302.00 price objective for the company. in a report on Wednesday, February 21st. Oppenheimer boosted their price objective on shares of Palo Alto Networks from $305.00 to $330.00 and gave the company an "outperform" rating in a report on Wednesday, April 17th. JMP Securities reiterated a "market outperform" rating and issued a $380.00 price target on shares of Palo Alto Networks in a report on Wednesday, February 21st. Finally, Westpark Capital reiterated a "hold" rating on shares of Palo Alto Networks in a report on Monday, January 29th. Eleven research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $314.82.

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.