Brio Consultants LLC Invests $324,000 in Palo Alto Networks, Inc. (NASDAQ:PANW)

Brio Consultants LLC purchased a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,900 shares of the network technology company’s stock, valued at approximately $324,000.

Other large investors also recently bought and sold shares of the company. Transce3nd LLC bought a new position in Palo Alto Networks during the 4th quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL grew its stake in shares of Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Kiely Wealth Advisory Group Inc. increased its holdings in shares of Palo Alto Networks by 100.0% during the fourth 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 in the last quarter. Anchor Investment Management LLC raised 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 purchasing an additional 78 shares during the last quarter. Finally, Capital A Wealth Management LLC bought a new position in Palo Alto Networks in the 4th quarter worth about $29,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PANW. Guggenheim restated a “sell” rating and set a $130.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Morgan Stanley reduced their price target on shares of 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. JPMorgan Chase & Co. lowered their price objective on Palo Alto Networks from $225.00 to $221.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 21st. TD Securities reiterated a “buy” rating and set a $230.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Finally, Barclays decreased their price target on Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.42.

Palo Alto Networks Stock Up 1.0%

NASDAQ PANW opened at $203.27 on Monday. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The business has a 50-day moving average price of $196.34 and a 200-day moving average price of $186.91. The firm has a market cap of $135.54 billion, a price-to-earnings ratio of 116.15, a price-to-earnings-growth ratio of 5.67 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. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 EPS. Research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Activity at Palo Alto Networks

In other news, EVP Dipak Golechha sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the completion of the transaction, the executive vice president owned 101,135 shares in the company, valued at $20,414,099.75. This trade represents a 4.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Aparna Bawa sold 526 shares of Palo Alto Networks stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $190.00, for a total value of $99,940.00. Following the completion of the sale, the director directly owned 8,632 shares in the company, valued at $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. Insiders sold a total of 569,248 shares of company stock valued at $111,279,829 in the last ninety days. Corporate insiders own 2.50% of the company’s stock.

About Palo Alto Networks

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.