Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Founders Financial Alliance LLC

Founders Financial Alliance LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,079 shares of the network technology company’s stock after buying an additional 59 shares during the quarter. Founders Financial Alliance LLC’s holdings in Palo Alto Networks were worth $318,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PANW. Webster Bank N. A. lifted its holdings in Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after buying an additional 85 shares in the last quarter. Cedar Mountain Advisors LLC increased its position in shares of Palo Alto Networks by 87.0% in the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 47 shares during the last quarter. MV Capital Management Inc. increased its position in shares of Palo Alto Networks by 37.2% in the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 29 shares during the last quarter. First United Bank & Trust purchased a new stake in shares of Palo Alto Networks in the 4th quarter valued at approximately $35,000. Finally, Alaska Permanent Fund Corp purchased a new stake in shares of Palo Alto Networks in the 4th quarter valued at approximately $42,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Palo Alto Networks

In related news, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the sale, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 121,276 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $299.60, for a total transaction of $36,334,289.60. Following the completion of the sale, the executive vice president now directly owns 166,542 shares in the company, valued at $49,895,983.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the transaction, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The disclosure for this sale can be found here. Insiders sold a total of 278,326 shares of company stock worth $80,147,130 over the last ninety days. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Price Performance

PANW traded up $10.16 during midday trading on Friday, reaching $321.60. 4,714,975 shares of the company’s stock were exchanged, compared to its average volume of 3,984,595. The stock has a market capitalization of $104.13 billion, a PE ratio of 46.74, a P/E/G ratio of 5.04 and a beta of 1.18. The business’s 50-day moving average price is $290.37 and its 200 day moving average price is $300.15. Palo Alto Networks, Inc. has a 1-year low of $201.17 and a 1-year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share. As a group, analysts expect that Palo Alto Networks, Inc. will post 2.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PANW has been the topic of a number of recent analyst reports. Susquehanna increased their price objective on shares of Palo Alto Networks from $325.00 to $340.00 and gave the company a “positive” rating in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $345.00 price objective on shares of Palo Alto Networks in a research report on Tuesday. KeyCorp lifted 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. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research report on Monday, January 29th. Finally, Redburn Atlantic upped their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Twelve analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $321.39.

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.