Money Concepts Capital Corp Boosts Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Money Concepts Capital Corp lifted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.6% in the first quarter, HoldingsChannel reports. The firm owned 8,675 shares of the network technology company’s stock after acquiring an additional 222 shares during the quarter. Money Concepts Capital Corp’s holdings in Palo Alto Networks were worth $1,480,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PANW. Transce3nd LLC purchased a new stake in shares of Palo Alto Networks during the 4th quarter worth $25,000. Strategic Investment Solutions Inc. IL lifted its holdings in Palo Alto Networks by 64.0% during the 4th 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 during the last quarter. Anchor Investment Management LLC boosted its position 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 worth $28,000 after acquiring an additional 78 shares in the last quarter. Kiely Wealth Advisory Group Inc. increased its holdings in shares of Palo Alto Networks by 100.0% in the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 75 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Palo Alto Networks during the 4th quarter worth about $29,000. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

PANW opened at $200.57 on Friday. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39. The stock has a market capitalization of $133.74 billion, a P/E ratio of 114.61, a P/E/G ratio of 5.65 and a beta of 0.97. The business has a 50 day simple moving average of $190.70 and a 200-day simple moving average of $185.42.

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

Analyst Upgrades and Downgrades

PANW has been the subject of a number of research analyst reports. Guggenheim reaffirmed a “sell” rating and issued a $130.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. Stephens downgraded shares of Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 1st. Hsbc Global Res upgraded shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 10th. Morgan Stanley decreased their price objective on shares of Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, KeyCorp reiterated an “overweight” rating and set a $220.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. 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 stock. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

Insider Activity at Palo Alto Networks

In related news, CAO Josh D. Paul sold 800 shares of Palo Alto Networks stock in a transaction on Friday, June 20th. The stock was sold at an average price of $201.05, for a total transaction of $160,840.00. Following the completion of the transaction, the chief accounting officer now directly owns 42,033 shares of the company’s stock, valued at approximately $8,450,734.65. The trade was a 1.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Nikesh Arora sold 227,414 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 317,571 shares in the company, valued at approximately $54,854,038.83. The trade was a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 795,536 shares of company stock worth $141,007,618 over the last 90 days. 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.