Fort Sheridan Advisors LLC Grows Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Fort Sheridan Advisors LLC lifted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 21,105 shares of the network technology company’s stock after buying an additional 145 shares during the period. Fort Sheridan Advisors LLC’s holdings in Palo Alto Networks were worth $3,601,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PANW. Transce3nd LLC bought a new stake in shares of Palo Alto Networks in the 4th quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL grew its position in shares of Palo Alto Networks by 64.0% in 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 grew its position in shares of Palo Alto Networks by 100.0% in the 4th 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 during the last quarter. Kiely Wealth Advisory Group Inc. grew its position 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 worth $29,000 after buying an additional 75 shares during the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in shares of Palo Alto Networks in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

PANW stock opened at $187.39 on Friday. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39. The business has a fifty day moving average price of $195.04 and a 200-day moving average price of $185.78. The stock has a market capitalization of $124.95 billion, a P/E ratio of 107.08, a P/E/G ratio of 5.36 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the business earned $0.66 earnings per share. The company’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 year.

Insider Buying and Selling

In related news, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total value of $19,866,000.00. Following the completion of the sale, the executive vice president owned 3,243,516 shares of the company’s stock, valued at $644,356,888.56. The trade was a 2.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $201.85, for a total value of $1,009,250.00. Following the completion of the sale, the executive vice president directly owned 101,135 shares of the company’s stock, valued at $20,414,099.75. The trade was a 4.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 569,248 shares of company stock valued at $111,279,829 over the last ninety days. 2.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $223.00 price objective on shares of Palo Alto Networks in a research report on Monday, May 19th. Guggenheim reiterated a “sell” rating and issued a $130.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. HSBC upgraded Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price objective on the stock in a research report on Thursday, April 10th. Truist Financial cut their price objective on Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, Roth Capital started coverage on Palo Alto Networks in a research note on Thursday, May 15th. They issued a “neutral” rating and a $210.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $208.00.

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.