Hamilton Wealth LLC Boosts Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Hamilton Wealth LLC boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 48.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,655 shares of the network technology company’s stock after acquiring an additional 6,435 shares during the period. Palo Alto Networks accounts for 1.7% of Hamilton Wealth LLC’s holdings, making the stock its 18th biggest position. Hamilton Wealth LLC’s holdings in Palo Alto Networks were worth $5,585,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AdvisorNet Financial Inc grew its position in Palo Alto Networks by 21.0% during the fourth quarter. AdvisorNet Financial Inc now owns 259 shares of the network technology company’s stock valued at $76,000 after buying an additional 45 shares during the period. Parsons Capital Management Inc. RI grew its position in shares of Palo Alto Networks by 3.0% in the fourth quarter. Parsons Capital Management Inc. RI now owns 2,166 shares of the network technology company’s stock valued at $639,000 after purchasing an additional 63 shares during the period. Drive Wealth Management LLC acquired a new stake in shares of Palo Alto Networks in the fourth quarter valued at about $231,000. FAS Wealth Partners Inc. acquired a new stake in shares of Palo Alto Networks in the fourth quarter valued at about $208,000. Finally, Webster Bank N. A. grew its position in shares of Palo Alto Networks by 607.1% in the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 85 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insiders Place Their Bets

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,621 shares of the firm’s 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 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Aparna Bawa sold 322 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total value of $99,820.00. Following the transaction, the director now owns 3,767 shares in the company, valued at $1,167,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President William D. Jenkins, Jr. sold 1,621 shares of the firm’s stock in a transaction that occurred on 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 transaction, the president now owns 20,501 shares in the company, valued at approximately $6,292,166.92. The disclosure for this sale can be found here. Insiders have sold 428,591 shares of company stock valued at $137,275,079 in the last ninety days. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ PANW traded down $10.02 during trading hours on Friday, reaching $305.60. The company’s stock had a trading volume of 3,524,599 shares, compared to its average volume of 2,378,765. The stock has a market cap of $98.95 billion, a PE ratio of 44.42, a PEG ratio of 4.16 and a beta of 1.14. Palo Alto Networks, Inc. has a fifty-two week low of $201.17 and a fifty-two week high of $380.84. The company’s 50-day moving average is $321.74 and its two-hundred day moving average is $312.22.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the prior year, the company earned $0.38 EPS. The firm’s revenue was up 15.3% on a year-over-year basis. Equities analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PANW has been the topic of several research analyst reports. KeyCorp dropped their target price on shares of Palo Alto Networks from $384.00 to $380.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Daiwa America upgraded shares of Palo Alto Networks to a “strong-buy” rating in a research report on Wednesday, May 29th. Needham & Company LLC reissued a “buy” rating and issued a $345.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Daiwa Capital Markets began coverage on shares of Palo Alto Networks in a research note on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 price target on the stock. Finally, Susquehanna raised their price target on shares of Palo Alto Networks from $325.00 to $340.00 and gave the stock a “positive” rating in a research note on Tuesday, May 21st. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $325.59.

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.