CRA Financial Services LLC Has $864,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

CRA Financial Services LLC boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,040 shares of the network technology company’s stock after purchasing an additional 88 shares during the quarter. CRA Financial Services LLC’s holdings in Palo Alto Networks were worth $864,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Frank Rimerman Advisors LLC bought a new position in Palo Alto Networks in the fourth quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. lifted its stake in Palo Alto Networks by 3,200.0% in 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 in the last quarter. Webster Bank N. A. lifted 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 valued at $29,000 after buying an additional 85 shares in the last quarter. Cedar Mountain Advisors LLC lifted 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 valued at $30,000 after buying an additional 47 shares in the last quarter. Finally, Central Bank & Trust Co. lifted its position in shares of Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

PANW has been the topic of a number of research reports. Robert W. Baird boosted their price objective on shares of Palo Alto Networks from $340.00 to $360.00 and gave the stock an “outperform” rating in a research report on Thursday. Macquarie boosted their price objective on shares of Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. DA Davidson initiated coverage on shares of Palo Alto Networks in a research report on Friday, June 21st. They issued a “buy” rating and a $380.00 price objective on the stock. Sanford C. Bernstein boosted their price objective on shares of Palo Alto Networks from $335.00 to $364.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. Finally, Daiwa America raised shares of Palo Alto Networks to a “strong-buy” rating in a research report on Wednesday, May 29th. Twelve research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $326.29.

Insider Transactions at Palo Alto Networks

In other news, Director Aparna Bawa sold 322 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total value of $99,820.00. Following the completion of the transaction, the director now owns 3,767 shares of the company’s stock, valued at $1,167,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Aparna Bawa sold 322 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total value of $99,820.00. Following the completion of the transaction, the director now owns 3,767 shares in the company, valued at approximately $1,167,770. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Lee Klarich sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $300.21, for a total transaction of $240,168.00. Following the completion of the transaction, the executive vice president now owns 166,542 shares of the company’s stock, valued at approximately $49,997,573.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 258,182 shares of company stock valued at $74,850,597. 3.30% of the stock is currently owned by insiders.

Palo Alto Networks Price Performance

PANW traded down $1.81 on Friday, hitting $339.01. 4,172,306 shares of the stock were exchanged, compared to its average volume of 3,168,419. Palo Alto Networks, Inc. has a 12 month low of $201.17 and a 12 month high of $380.84. The business has a 50-day moving average of $307.06 and a two-hundred day moving average of $307.16. The firm has a market capitalization of $109.77 billion, a price-to-earnings ratio of 49.27, a PEG ratio of 5.19 and a beta of 1.10.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the prior year, the business posted $0.38 earnings per share. Palo Alto Networks’s revenue was up 15.3% compared to the same quarter last year. Equities research analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

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.