Parkside Investments LLC Takes Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Parkside Investments LLC acquired a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,000 shares of the network technology company’s stock, valued at approximately $568,000.

A number of other institutional investors also recently bought and sold shares of PANW. Frank Rimerman Advisors LLC purchased a new position in shares of Palo Alto Networks in the 4th quarter worth about $27,000. Webster Bank N. A. raised its position in shares of 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 valued at $29,000 after acquiring an additional 85 shares in the last quarter. Financial Synergies Wealth Advisors Inc. boosted its holdings in shares of Palo Alto Networks by 3,200.0% in the 1st 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. Cedar Mountain Advisors LLC raised its position in shares of Palo Alto Networks by 87.0% during the 4th 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, ICA Group Wealth Management LLC acquired a new position in shares of Palo Alto Networks during the fourth quarter valued at $31,000. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In related news, Director Aparna Bawa sold 322 shares of Palo Alto Networks stock in a transaction 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 transaction, the director now directly owns 3,767 shares in the company, valued at approximately $1,167,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the transaction, the executive vice president now owns 174,075 shares in the company, valued at $46,659,063. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Aparna Bawa sold 322 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total value of $99,820.00. Following the transaction, the director now directly owns 3,767 shares of the company’s stock, valued at approximately $1,167,770. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 258,182 shares of company stock worth $74,850,597. 3.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Cantor Fitzgerald restated an “overweight” rating and set a $350.00 target price on shares of Palo Alto Networks in a report on Friday, June 21st. Sanford C. Bernstein lifted their price target on Palo Alto Networks from $335.00 to $364.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Susquehanna upped their price target on shares of Palo Alto Networks from $325.00 to $340.00 and gave the company a “positive” rating in a research note on Tuesday, May 21st. Stifel Nicolaus restated a “buy” rating and set a $330.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, March 13th. Finally, Evercore ISI lowered their price objective on shares of Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating for the company in a research report on Tuesday, May 14th. Twelve research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $324.17.

Palo Alto Networks Stock Up 0.8 %

Shares of Palo Alto Networks stock traded up $2.55 during trading hours on Wednesday, hitting $325.23. The company’s stock had a trading volume of 933,658 shares, compared to its average volume of 4,834,756. The company has a market capitalization of $105.31 billion, a PE ratio of 47.13, a P/E/G ratio of 4.94 and a beta of 1.10. The business has a fifty day moving average of $303.68 and a 200 day moving average of $306.50. 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 data on Monday, May 20th. The network technology company reported $1.32 earnings per share 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 firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the firm earned $0.38 EPS. Palo Alto Networks’s quarterly revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

Palo Alto Networks 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.