Dakota Wealth Management Buys 1,697 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Dakota Wealth Management grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,630 shares of the network technology company’s stock after buying an additional 1,697 shares during the period. Dakota Wealth Management’s holdings in Palo Alto Networks were worth $6,762,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PANW. Transce3nd LLC purchased a new stake in shares of Palo Alto Networks during the fourth quarter worth about $25,000. Strategic Investment Solutions Inc. IL grew its stake 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 valued at $26,000 after acquiring an additional 55 shares in the last quarter. Anchor Investment Management LLC increased its holdings in 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 valued at $28,000 after acquiring an additional 78 shares during the last quarter. Kiely Wealth Advisory Group Inc. lifted its stake in 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 purchasing an additional 75 shares in the last quarter. Finally, Capital A Wealth Management LLC bought a new position in shares of Palo Alto Networks during the 4th quarter valued at about $29,000. 79.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Dipak Golechha sold 5,000 shares of the firm’s 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 owned 101,135 shares of the company’s stock, valued at $20,414,099.75. This trade represents a 4.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Aparna Bawa sold 526 shares of the business’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $190.00, for a total value of $99,940.00. Following the transaction, the director owned 8,632 shares in the company, valued at approximately $1,640,080. This trade represents a 5.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 569,248 shares of company stock valued at $111,279,829. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks Trading Down 2.4%

Shares of NASDAQ PANW opened at $187.39 on Monday. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $208.39. The stock’s fifty day simple moving average is $195.04 and its two-hundred day simple moving average is $185.73. The stock has a market capitalization of $124.95 billion, a PE ratio of 107.08, a price-to-earnings-growth ratio of 5.23 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results 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. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the previous year, the company posted $0.66 earnings per share. The firm’s revenue was up 15.3% on a year-over-year basis. On average, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Guggenheim reiterated a “sell” rating and issued a $130.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Morgan Stanley lowered their target price on Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. HSBC raised shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 target price for the company in a report on Thursday, April 10th. TD Securities reaffirmed a “buy” rating and set a $230.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Finally, Hsbc Global Res raised shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 10th. 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 data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average target price of $208.00.

Palo Alto Networks Company 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.