TFR Capital LLC. Has $1.88 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

TFR Capital LLC. cut its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.6% in the 1st quarter, HoldingsChannel reports. The fund owned 11,028 shares of the network technology company’s stock after selling 912 shares during the quarter. TFR Capital LLC.’s holdings in Palo Alto Networks were worth $1,882,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL raised its position 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 valued at $26,000 after buying an additional 55 shares in the last quarter. Crew Capital Management Ltd. raised its position in shares of Palo Alto Networks by 2.5% in the first quarter. Crew Capital Management Ltd. now owns 2,310 shares of the network technology company’s stock valued at $394,000 after buying an additional 57 shares in the last quarter. JDM Financial Group LLC raised its position in shares of Palo Alto Networks by 22.4% in the fourth quarter. JDM Financial Group LLC now owns 322 shares of the network technology company’s stock valued at $59,000 after buying an additional 59 shares in the last quarter. WealthBridge Capital Management LLC raised its position in shares of Palo Alto Networks by 2.0% in the first quarter. WealthBridge Capital Management LLC now owns 3,067 shares of the network technology company’s stock valued at $523,000 after buying an additional 61 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. raised its position in shares of Palo Alto Networks by 0.3% in the first quarter. Penobscot Investment Management Company Inc. now owns 18,983 shares of the network technology company’s stock valued at $3,239,000 after buying an additional 63 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on PANW. Stephens downgraded shares of Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 1st. Sanford C. Bernstein set a $225.00 price target on shares of Palo Alto Networks and gave the company an “outperform” rating in a research report on Wednesday, May 21st. Morgan Stanley lowered 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 report on Wednesday, April 16th. TD Securities restated a “buy” rating and set a $230.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Finally, KeyCorp restated an “overweight” rating and set a $220.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Two investment 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $208.00.

Palo Alto Networks Stock Down 2.4%

PANW stock opened at $187.39 on Friday. The firm has a market cap of $124.95 billion, a price-to-earnings ratio of 107.08, a PEG ratio of 5.23 and a beta of 0.97. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $208.39. The company’s fifty day simple moving average is $195.04 and its 200 day simple moving average is $185.75.

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

Insider Activity at Palo Alto Networks

In other news, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the transaction, the executive vice president owned 101,135 shares of the company’s stock, valued at $20,414,099.75. This 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 link. Also, Director Aparna Bawa sold 526 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $190.00, for a total transaction of $99,940.00. Following the transaction, the director directly owned 8,632 shares in the company, valued at $1,640,080. This trade represents a 5.74% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 569,248 shares of company stock worth $111,279,829. 2.50% of the stock is currently owned by insiders.

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.