Reliant Investment Management LLC Purchases 460 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Reliant Investment Management LLC boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,735 shares of the network technology company’s stock after acquiring an additional 460 shares during the period. Palo Alto Networks accounts for about 2.2% of Reliant Investment Management LLC’s holdings, making the stock its 27th biggest position. Reliant Investment Management LLC’s holdings in Palo Alto Networks were worth $4,755,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Horizon Family Wealth Inc. lifted its stake in shares of Palo Alto Networks by 1.1% in the 4th quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock valued at $726,000 after acquiring an additional 28 shares during the last quarter. MV Capital Management Inc. raised its position in Palo Alto Networks by 37.2% during 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. Manchester Capital Management LLC raised its position in Palo Alto Networks by 17.2% during the 4th quarter. Manchester Capital Management LLC now owns 204 shares of the network technology company’s stock valued at $60,000 after purchasing an additional 30 shares during the last quarter. Quent Capital LLC raised its position in Palo Alto Networks by 15.9% during the 4th quarter. Quent Capital LLC now owns 233 shares of the network technology company’s stock valued at $69,000 after purchasing an additional 32 shares during the last quarter. Finally, Parisi Gray Wealth Management raised its position in Palo Alto Networks by 2.2% during the 4th quarter. Parisi Gray Wealth Management now owns 1,519 shares of the network technology company’s stock valued at $448,000 after purchasing an additional 33 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and set a $330.00 target price on shares of Palo Alto Networks in a report on Wednesday, March 13th. JPMorgan Chase & Co. upped their target price on Palo Alto Networks from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Oppenheimer reiterated an “outperform” rating and set a $330.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 21st. DA Davidson assumed coverage on Palo Alto Networks in a report on Friday, June 21st. They set a “buy” rating and a $380.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $350.00 target price on shares of Palo Alto Networks in a report on Friday, June 21st. Twelve equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $326.29.

Palo Alto Networks Stock Down 0.5 %

PANW traded down $1.81 on Friday, hitting $339.01. The company had a trading volume of 4,172,306 shares, compared to its average volume of 3,168,419. The company has a market cap of $109.77 billion, a PE ratio of 49.27, a PEG ratio of 5.22 and a beta of 1.10. Palo Alto Networks, Inc. has a 12-month low of $201.17 and a 12-month high of $380.84. The business’s fifty day simple moving average is $307.06 and its 200 day simple moving average is $307.14.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 earnings per share. On average, analysts anticipate that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

In related news, Director Aparna Bawa sold 322 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 3,767 shares in the company, valued at $1,167,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,621 shares of the company’s stock in a transaction on 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 sale, the president now owns 20,501 shares in the company, valued at $6,292,166.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Aparna Bawa sold 322 shares of the company’s 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 sale, the director now 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 quarter, insiders sold 258,182 shares of company stock worth $74,850,597. Company insiders own 3.30% of the company’s stock.

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.