Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,267 shares of the network technology company’s stock after purchasing an additional 321 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Palo Alto Networks were worth $4,054,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PANW. Frank Rimerman Advisors LLC acquired a new position in Palo Alto Networks in the 4th quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. raised its stake 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 acquiring an additional 96 shares during the period. Webster Bank N. A. raised its stake in shares of Palo Alto Networks by 607.1% in 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 during the period. Cedar Mountain Advisors LLC raised its stake 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 acquiring an additional 47 shares during the period. Finally, Central Bank & Trust Co. raised its stake in shares of Palo Alto Networks by 89.3% in the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 50 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PANW shares. Daiwa America raised shares of Palo Alto Networks to a “strong-buy” rating in a research note on Wednesday, May 29th. Oppenheimer reissued an “outperform” rating and issued a $330.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Robert W. Baird increased their price objective on shares of Palo Alto Networks from $340.00 to $360.00 and gave the company an “outperform” rating in a research report on Thursday, June 27th. KeyCorp upped their target price on shares of Palo Alto Networks from $355.00 to $384.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Finally, JMP Securities restated a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 21st. Twelve analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average target price of $326.29.

Insiders Place Their Bets

In other Palo Alto Networks news, Director Aparna Bawa sold 322 shares of the business’s 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 sale, the director now directly owns 3,767 shares in the company, valued at $1,167,770. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 174,075 shares in the company, valued at approximately $46,659,063. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 sale, the director now owns 3,767 shares in the company, valued at approximately $1,167,770. The disclosure for this sale can be found here. Over the last three months, insiders have sold 258,182 shares of company stock worth $74,850,597. 3.30% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Up 0.3 %

Shares of PANW traded up $0.90 during mid-day trading on Tuesday, hitting $341.80. The company had a trading volume of 1,138,764 shares, compared to its average volume of 4,796,630. The stock has a market cap of $110.67 billion, a PE ratio of 49.32, a P/E/G ratio of 5.19 and a beta of 1.14. Palo Alto Networks, Inc. has a 1-year low of $201.17 and a 1-year high of $380.84. The business’s 50-day simple moving average is $307.06 and its 200-day simple moving average is $307.11.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. The company 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 revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share. On average, sell-side analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current 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.