Atticus Wealth Management LLC Purchases 264 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Atticus Wealth Management LLC boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 30.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,144 shares of the network technology company’s stock after acquiring an additional 264 shares during the quarter. Atticus Wealth Management LLC’s holdings in Palo Alto Networks were worth $325,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC bought a new position in Palo Alto Networks during the fourth quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. boosted its stake in shares of Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after acquiring an additional 96 shares during the period. Webster Bank N. A. increased its holdings 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 worth $29,000 after acquiring an additional 85 shares during the last quarter. Cedar Mountain Advisors LLC lifted its holdings in 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 valued at $30,000 after purchasing an additional 47 shares during the last quarter. Finally, Central Bank & Trust Co. boosted its position in Palo Alto Networks by 89.3% during 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 during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analysts Set New Price Targets

PANW has been the topic of several research analyst reports. Susquehanna increased their price objective on shares of Palo Alto Networks from $325.00 to $340.00 and gave the company a “positive” rating in a research report on Tuesday, May 21st. Argus increased their price target on shares of Palo Alto Networks from $336.00 to $348.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Oppenheimer restated an “outperform” rating and set a $330.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, May 21st. JPMorgan Chase & Co. upped their target price on Palo Alto Networks from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Finally, Robert W. Baird lifted their price target on Palo Alto Networks from $340.00 to $360.00 and gave the stock an “outperform” rating in a report on Thursday. Twelve equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus price target of $326.29.

Palo Alto Networks Trading Down 0.5 %

PANW traded down $1.81 on Friday, reaching $339.01. The stock had a trading volume of 4,172,306 shares, compared to its average volume of 3,168,419. The company has a market capitalization of $109.77 billion, a price-to-earnings ratio of 49.27, a price-to-earnings-growth ratio of 5.19 and a beta of 1.10. Palo Alto Networks, Inc. has a fifty-two week low of $201.17 and a fifty-two week high of $380.84. The firm has a 50-day moving average of $307.06 and a 200-day moving average of $307.16.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data 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. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The firm’s revenue was up 15.3% compared to the same quarter last year. Sell-side analysts anticipate that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

Insider Activity

In related news, Director John P. Key sold 2,163 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $305.41, for a total value of $660,601.83. Following the sale, the director now owns 12,639 shares of the company’s stock, valued at $3,860,076.99. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director John P. Key sold 2,163 shares of Palo Alto Networks stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $305.41, for a total value of $660,601.83. Following the transaction, the director now directly owns 12,639 shares of the company’s stock, valued at $3,860,076.99. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Aparna Bawa sold 322 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total transaction of $99,820.00. Following the sale, 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 sold 258,182 shares of company stock valued at $74,850,597. 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.