Ceeto Capital Group LLC Acquires Shares of 2,000 Palo Alto Networks, Inc. (NASDAQ:PANW)

Ceeto Capital Group LLC purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,000 shares of the network technology company’s stock, valued at approximately $568,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PANW. CVA Family Office LLC purchased a new position in shares of Palo Alto Networks in the 4th quarter valued at about $67,000. Fort Washington Investment Advisors Inc. OH purchased a new stake in Palo Alto Networks during the 4th quarter worth approximately $301,000. IFG Advisory LLC increased its stake in Palo Alto Networks by 6.3% during the 4th quarter. IFG Advisory LLC now owns 5,558 shares of the network technology company’s stock worth $1,639,000 after buying an additional 327 shares in the last quarter. Procyon Advisors LLC increased its stake in Palo Alto Networks by 7.1% during the 4th quarter. Procyon Advisors LLC now owns 1,624 shares of the network technology company’s stock worth $479,000 after buying an additional 108 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC purchased a new stake in Palo Alto Networks during the 4th quarter worth approximately $210,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

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 shares were sold at an average price of $306.92, for a total value of $497,517.32. Following the completion of the transaction, the president now owns 20,501 shares in the company, valued at $6,292,166.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President William D. Jenkins, Jr. sold 1,621 shares of the stock in a transaction dated Thursday, May 23rd. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nir Zuk sold 36,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total transaction of $10,376,640.00. Following the sale, the executive vice president now owns 1,295,567 shares of the company’s stock, valued at approximately $373,434,232.08. The disclosure for this sale can be found here. Insiders sold 428,391 shares of company stock worth $136,147,317 over the last 90 days. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

PANW has been the topic of several recent research reports. Macquarie boosted their target price on Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Argus boosted their target price on Palo Alto Networks from $336.00 to $348.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Oppenheimer restated an “outperform” rating and set a $330.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 21st. Robert W. Baird boosted their target price on Palo Alto Networks from $340.00 to $360.00 and gave the stock an “outperform” rating in a report on Thursday, June 27th. Finally, Morgan Stanley restated an “overweight” rating and set a $360.00 target price on shares of Palo Alto Networks in a report on Wednesday, June 12th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.59.

Palo Alto Networks Trading Up 2.1 %

NASDAQ:PANW traded up $6.68 during trading hours on Friday, hitting $326.81. The company’s stock had a trading volume of 1,709,425 shares, compared to its average volume of 2,294,796. Palo Alto Networks, Inc. has a 52-week low of $201.17 and a 52-week high of $380.84. The stock has a market capitalization of $105.82 billion, a P/E ratio of 47.50, a price-to-earnings-growth ratio of 5.00 and a beta of 1.14. The stock has a fifty day moving average of $321.57 and a 200-day moving average of $312.31.

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 net margin of 31.42% and a return on equity of 32.74%. 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. Palo Alto Networks’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, sell-side analysts forecast 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.