Palo Alto Networks, Inc. (NASDAQ:PANW) Position Decreased by Burr Financial Services LLC

Burr Financial Services LLC decreased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,292 shares of the network technology company’s stock after selling 142 shares during the period. Palo Alto Networks comprises 7.0% of Burr Financial Services LLC’s portfolio, making the stock its 5th largest holding. Burr Financial Services LLC’s holdings in Palo Alto Networks were worth $8,923,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Transce3nd LLC purchased a new stake in Palo Alto Networks during the fourth quarter worth about $25,000. Strategic Investment Solutions Inc. IL boosted its holdings in Palo Alto Networks by 64.0% during the fourth 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 in the last quarter. Atlantic Edge Private Wealth Management LLC boosted its holdings in Palo Alto Networks by 265.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock worth $27,000 after buying an additional 106 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Palo Alto Networks by 102.6% during the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock worth $28,000 after buying an additional 79 shares in the last quarter. Finally, Anchor Investment Management LLC boosted its holdings in Palo Alto Networks by 100.0% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $190.78 on Friday. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39. The company has a 50 day moving average price of $178.31 and a 200 day moving average price of $184.96. The firm has a market capitalization of $127.21 billion, a price-to-earnings ratio of 107.48, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly 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 firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the business posted $0.66 earnings per share. Palo Alto Networks’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 120,774 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the completion of the transaction, the executive vice president now owns 321,774 shares of the company’s stock, valued at approximately $48,629,704.62. This represents a 27.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nikesh Arora sold 227,414 shares of the business’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 transaction of $39,281,220.22. Following the sale, the chief executive officer now owns 317,571 shares of the company’s stock, valued at approximately $54,854,038.83. This represents a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 568,962 shares of company stock valued at $96,933,690. Insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PANW has been the topic of a number of research analyst reports. Northland Securities decreased their price objective on shares of Palo Alto Networks from $210.00 to $177.00 and set a “market perform” rating on the stock in a report on Wednesday, May 21st. Morgan Stanley decreased their price objective on shares of Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Rosenblatt Securities reissued a “buy” rating and set a $235.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 20th. 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 report on Wednesday, May 21st. Finally, JMP Securities upped their price target on shares of Palo Alto Networks from $208.00 to $212.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus target price of $208.00.

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.