Kingswood Wealth Advisors LLC Acquires 782 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Kingswood Wealth Advisors LLC raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 17.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,150 shares of the network technology company’s stock after purchasing an additional 782 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $880,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL grew its position 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. JDM Financial Group LLC lifted its position in shares of Palo Alto Networks by 22.4% in the 4th quarter. JDM Financial Group LLC now owns 322 shares of the network technology company’s stock worth $59,000 after acquiring an additional 59 shares during the period. Adero Partners LLC grew its holdings in shares of Palo Alto Networks by 4.3% during the 1st quarter. Adero Partners LLC now owns 1,556 shares of the network technology company’s stock worth $266,000 after purchasing an additional 64 shares in the last quarter. Snider Financial Group grew its holdings in shares of Palo Alto Networks by 0.4% during the 1st quarter. Snider Financial Group now owns 17,729 shares of the network technology company’s stock worth $3,025,000 after purchasing an additional 65 shares in the last quarter. Finally, Grimes & Company Inc. increased its position in shares of Palo Alto Networks by 5.3% during the first quarter. Grimes & Company Inc. now owns 1,310 shares of the network technology company’s stock valued at $224,000 after purchasing an additional 66 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

PANW opened at $199.78 on Friday. The firm has a 50 day simple moving average of $186.81 and a 200 day simple moving average of $185.29. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39. The company has a market cap of $133.21 billion, a price-to-earnings ratio of 114.16, a price-to-earnings-growth ratio of 5.57 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. As a group, analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analysts Forecast Growth

PANW has been the subject of several research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $235.00 target price on shares of Palo Alto Networks in a research report on Tuesday, May 20th. Roth Capital initiated coverage on shares of Palo Alto Networks in a report on Thursday, May 15th. They set a “neutral” rating and a $210.00 price objective for the company. Guggenheim reissued a “sell” rating and issued a $130.00 target price on shares of Palo Alto Networks in a research note 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. Finally, Citigroup lifted their price objective on Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $208.00.

Insiders Place Their Bets

In related news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks 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 transaction, the executive vice president now owns 321,774 shares of the company’s stock, valued at $48,629,704.62. This trade represents a 27.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nir Zuk sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $193.36, for a total transaction of $19,336,000.00. Following the completion of the sale, the executive vice president now directly owns 3,343,516 shares of the company’s stock, valued at $646,502,253.76. The trade was a 2.90% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 789,736 shares of company stock worth $139,837,528. Insiders own 2.50% of the company’s stock.

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.