MADDEN SECURITIES Corp Buys 690 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

MADDEN SECURITIES Corp increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.8% during the second quarter, Holdings Channel reports. The institutional investor owned 12,515 shares of the network technology company’s stock after purchasing an additional 690 shares during the quarter. Palo Alto Networks comprises 1.9% of MADDEN SECURITIES Corp’s holdings, making the stock its 15th biggest position. MADDEN SECURITIES Corp’s holdings in Palo Alto Networks were worth $4,243,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC bought a new position in shares of Palo Alto Networks during the 1st quarter worth about $25,000. Frank Rimerman Advisors LLC acquired a new stake in Palo Alto Networks during the fourth quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. grew 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 purchasing an additional 96 shares during the period. Ulland Investment Advisors LLC acquired a new position in shares of Palo Alto Networks in the 1st quarter worth approximately $30,000. Finally, Central Bank & Trust Co. boosted its stake in 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 buying an additional 50 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PANW shares. Cantor Fitzgerald reissued an “overweight” rating and set a $350.00 price objective on shares of Palo Alto Networks in a report on Friday, June 21st. Oppenheimer restated an “outperform” rating and issued a $330.00 price target on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 21st. Redburn Atlantic cut shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and cut their target price for the company from $350.00 to $325.00 in a research note on Thursday, July 18th. Finally, JMP Securities restated a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $325.59.

Insiders Place Their Bets

In related news, President William D. Jenkins, Jr. sold 1,621 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total value of $497,517.32. Following the sale, the president now directly owns 20,501 shares of the company’s stock, valued at approximately $6,292,166.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, President William D. Jenkins, Jr. sold 1,621 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total transaction of $497,517.32. Following the completion of the transaction, the president now directly owns 20,501 shares in the company, valued at $6,292,166.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $293.31, for a total value of $10,559,160.00. Following the completion of the sale, the executive vice president now owns 1,259,567 shares in the company, valued at approximately $369,443,596.77. The disclosure for this sale can be found here. In the last three months, insiders have sold 367,315 shares of company stock worth $118,696,590. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW traded up $13.16 during midday trading on Thursday, reaching $317.37. 2,143,890 shares of the stock were exchanged, compared to its average volume of 4,414,229. 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 simple moving average of $321.50 and a two-hundred day simple moving average of $311.40. The company has a market capitalization of $102.76 billion, a price-to-earnings ratio of 46.13, a P/E/G ratio of 4.16 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share (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 firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis. Equities research analysts expect 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.