TFB Advisors LLC Takes Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

TFB Advisors LLC purchased a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,425 shares of the network technology company’s stock, valued at approximately $409,000.

A number of other large investors have also recently modified their holdings of PANW. Frank Rimerman Advisors LLC bought a new stake in Palo Alto Networks in the fourth quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. increased its stake in shares of Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after buying an additional 96 shares during the period. Webster Bank N. A. grew its stake in Palo Alto Networks by 607.1% in the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after purchasing an additional 85 shares during the period. Cedar Mountain Advisors LLC grew its stake in Palo Alto Networks by 87.0% in the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after purchasing an additional 47 shares during the period. Finally, Ulland Investment Advisors LLC purchased a new stake in Palo Alto Networks in the first quarter worth $30,000. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Palo Alto Networks stock traded up $0.88 during midday trading on Wednesday, reaching $337.06. The company’s stock had a trading volume of 2,044,347 shares, compared to its average volume of 4,696,317. The stock’s 50-day simple moving average is $313.98 and its 200-day simple moving average is $308.92. Palo Alto Networks, Inc. has a 52-week low of $201.17 and a 52-week high of $380.84. The stock has a market capitalization of $109.14 billion, a P/E ratio of 48.38, a PEG ratio of 5.17 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last released its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period last year, the business posted $0.38 earnings per share. The firm’s revenue was up 15.3% compared to the same quarter last year. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

Insider Transactions at Palo Alto Networks

In related news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,982 shares in the company, valued at $8,443,916. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Palo Alto Networks news, Director Aparna Bawa sold 322 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total value of $99,820.00. Following the sale, the director now directly owns 3,767 shares of the company’s stock, valued at $1,167,770. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $338.00, for a total value of $67,600.00. Following the completion of the sale, the chief accounting officer now directly owns 24,982 shares in the company, valued at $8,443,916. The disclosure for this sale can be found here. Insiders sold a total of 428,391 shares of company stock worth $136,147,317 over the last three months. 3.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PANW. JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 21st. KeyCorp boosted their target price on Palo Alto Networks from $355.00 to $384.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Sanford C. Bernstein boosted their target price on Palo Alto Networks from $335.00 to $364.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. Macquarie boosted their price target on Palo Alto Networks from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Finally, Susquehanna boosted their price target on Palo Alto Networks from $325.00 to $340.00 and gave the company a “positive” rating in a research note on Tuesday, May 21st. Twelve investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $326.29.

View Our Latest Research Report on Palo Alto Networks

Palo Alto Networks Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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