140 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Purchased by RiverPark Advisors LLC

RiverPark Advisors LLC acquired a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 140 shares of the network technology company’s stock, valued at approximately $40,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PANW. GSG Advisors LLC grew its position in Palo Alto Networks by 1.0% during the 4th quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock valued at $1,478,000 after purchasing an additional 51 shares during the last quarter. Spirit of America Management Corp NY grew its holdings in shares of Palo Alto Networks by 50.0% during the fourth quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock valued at $88,000 after buying an additional 100 shares during the last quarter. Beacon Pointe Advisors LLC increased its position in shares of Palo Alto Networks by 31.4% during the fourth quarter. Beacon Pointe Advisors LLC now owns 112,040 shares of the network technology company’s stock valued at $33,038,000 after acquiring an additional 26,767 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Palo Alto Networks by 9.9% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,726 shares of the network technology company’s stock worth $7,291,000 after acquiring an additional 2,225 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its position in Palo Alto Networks by 91.0% in the 1st quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after acquiring an additional 802 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Down 1.0 %

PANW stock traded down $3.35 during mid-day trading on Wednesday, hitting $332.83. The company had a trading volume of 400,776 shares, compared to its average volume of 4,683,783. The company has a 50-day moving average price of $313.98 and a 200 day moving average price of $308.92. Palo Alto Networks, Inc. has a 12-month low of $201.17 and a 12-month high of $380.84. The company has a market capitalization of $107.77 billion, a price-to-earnings ratio of 48.38, a P/E/G ratio of 5.17 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 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.38 earnings per share. As a group, analysts expect that Palo Alto Networks, Inc. will post 2.94 EPS for the current year.

Insider Activity at Palo Alto Networks

In related news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $339.16, for a total transaction of $12,209,760.00. Following the sale, the executive vice president now owns 1,223,567 shares of the company’s stock, valued at $414,984,983.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Lee Klarich sold 121,276 shares of Palo Alto Networks stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $299.60, for a total value of $36,334,289.60. Following the completion of the transaction, the executive vice president now owns 166,542 shares in the company, valued at approximately $49,895,983.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $339.16, for a total value of $12,209,760.00. Following the sale, the executive vice president now owns 1,223,567 shares in the company, valued at approximately $414,984,983.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 302,525 shares of company stock valued at $93,982,207. 3.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Redburn Atlantic boosted their price target on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Argus boosted their target price on Palo Alto Networks from $336.00 to $348.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Robert W. Baird raised their price target on shares of Palo Alto Networks from $340.00 to $360.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. Evercore ISI decreased their price objective on shares of Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating for the company in a report on Tuesday, May 14th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $330.00 target price on shares of Palo Alto Networks in a report on Wednesday, March 13th. Twelve 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $326.29.

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.