Flagship Harbor Advisors LLC Has $1.77 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Flagship Harbor Advisors LLC trimmed its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,391 shares of the network technology company’s stock after selling 324 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Palo Alto Networks were worth $1,773,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Transce3nd LLC acquired a new stake in Palo Alto Networks during the 4th quarter worth about $25,000. Strategic Investment Solutions Inc. IL boosted its holdings in shares of 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 purchasing an additional 55 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in shares of 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 purchasing an additional 79 shares during the period. Anchor Investment Management LLC boosted its stake in shares of 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 valued at $28,000 after buying an additional 78 shares during the period. Finally, Kiely Wealth Advisory Group Inc. boosted its stake in shares of 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 valued at $29,000 after buying an additional 75 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PANW has been the subject of a number of research reports. Barclays reduced their price objective on Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, May 21st. KeyCorp reiterated an “overweight” rating and set a $220.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. Northland Securities reduced their price target on Palo Alto Networks from $210.00 to $177.00 and set a “market perform” rating for the company in a report on Wednesday, May 21st. Stephens cut shares of Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 1st. Finally, TD Securities reiterated a “buy” rating and issued a $230.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average target price of $208.00.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $203.32 on Tuesday. The stock has a fifty day moving average of $188.10 and a 200-day moving average of $185.08. The stock has a market capitalization of $135.57 billion, a P/E ratio of 116.18, a price-to-earnings-growth ratio of 5.56 and a beta of 0.97. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The company’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the company earned $0.66 earnings per share. Equities research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 120,774 shares of the business’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $195.14, for a total transaction of $23,567,838.36. Following the completion of the transaction, the executive vice president now directly owns 264,246 shares in the company, valued at approximately $51,564,964.44. The trade was a 31.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Josh D. Paul sold 800 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $201.05, for a total transaction of $160,840.00. Following the transaction, the chief accounting officer now owns 42,033 shares of the company’s stock, valued at approximately $8,450,734.65. This represents a 1.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 790,536 shares of company stock valued at $139,998,368. Company 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.