Glen Eagle Advisors LLC Acquires 106 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Glen Eagle Advisors LLC lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 212 shares of the network technology company’s stock after purchasing an additional 106 shares during the period. Glen Eagle Advisors LLC’s holdings in Palo Alto Networks were worth $39,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PANW. Strategic Investment Solutions Inc. IL raised its stake 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 worth $26,000 after acquiring an additional 55 shares during the last quarter. SJS Investment Consulting Inc. raised its position in Palo Alto Networks by 97.2% in the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after purchasing an additional 69 shares during the last quarter. Rakuten Securities Inc. raised its position in Palo Alto Networks by 8.4% in the 4th quarter. Rakuten Securities Inc. now owns 906 shares of the network technology company’s stock worth $165,000 after purchasing an additional 70 shares during the last quarter. Cedar Mountain Advisors LLC lifted its holdings in Palo Alto Networks by 70.3% during the 4th quarter. Cedar Mountain Advisors LLC now owns 172 shares of the network technology company’s stock worth $31,000 after buying an additional 71 shares in the last quarter. Finally, Quarry LP boosted its position in Palo Alto Networks by 16.9% in the 4th quarter. Quarry LP now owns 511 shares of the network technology company’s stock valued at $93,000 after buying an additional 74 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Roth Capital assumed coverage on Palo Alto Networks in a research report on Thursday, May 15th. They set a “neutral” rating and a $210.00 target price for the company. TD Securities reissued a “buy” rating and set a $230.00 price objective on shares of Palo Alto Networks in a report on Wednesday. Northland Securities cut their target price on shares of Palo Alto Networks from $210.00 to $177.00 and set a “market perform” rating on the stock in a research report on Wednesday. HSBC upgraded 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. Finally, Sanford C. Bernstein cut their price objective on shares of Palo Alto Networks from $229.00 to $225.00 and set an “outperform” rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $206.40.

Palo Alto Networks Stock Down 6.8%

NASDAQ:PANW opened at $181.26 on Thursday. The company has a market cap of $120.01 billion, a P/E ratio of 102.12, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The business has a 50 day moving average price of $178.01 and a two-hundred day moving average price of $185.29.

Palo Alto Networks (NASDAQ:PANW) last announced 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. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The firm’s revenue was up 15.3% on a year-over-year basis. As a group, analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity

In other Palo Alto Networks news, CEO Nikesh Arora sold 227,414 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total value of $39,281,220.22. Following the completion of the transaction, the chief executive officer now directly owns 317,571 shares in the company, valued at $54,854,038.83. This trade represents a 41.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nir Zuk sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $165.41, for a total value of $16,541,000.00. Following the sale, the executive vice president now owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. This represents a 2.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 568,962 shares of company stock worth $96,933,690 in the last quarter. Corporate insiders own 2.50% of the company’s stock.

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.