Park Avenue Securities LLC Has $7.20 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Park Avenue Securities LLC raised its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,246 shares of the network technology company’s stock after buying an additional 778 shares during the period. Park Avenue Securities LLC’s holdings in Palo Alto Networks were worth $7,203,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Astoria Portfolio Advisors LLC. bought a new position in shares of Palo Alto Networks during the 2nd quarter valued at $236,000. Kingswood Wealth Advisors LLC raised its holdings in Palo Alto Networks by 4.8% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 2,579 shares of the network technology company’s stock worth $874,000 after acquiring an additional 118 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Palo Alto Networks by 10.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 5,507 shares of the network technology company’s stock worth $1,867,000 after acquiring an additional 523 shares during the period. Fulton Bank N.A. raised its holdings in Palo Alto Networks by 1.9% in the 2nd quarter. Fulton Bank N.A. now owns 3,344 shares of the network technology company’s stock worth $1,134,000 after acquiring an additional 61 shares during the period. Finally, New England Research & Management Inc. raised its holdings in Palo Alto Networks by 90.2% in the 2nd quarter. New England Research & Management Inc. now owns 1,950 shares of the network technology company’s stock worth $661,000 after acquiring an additional 925 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on PANW. Daiwa America upgraded shares of Palo Alto Networks to a “strong-buy” rating in a report on Wednesday, May 29th. Royal Bank of Canada dropped their target price on shares of Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. Redburn Atlantic downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $350.00 to $325.00 in a report on Thursday, July 18th. BMO Capital Markets boosted their price objective on shares of Palo Alto Networks from $327.00 to $334.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Palo Alto Networks from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $325.59.

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 that occurred 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 sale, the president now owns 20,501 shares of the company’s stock, valued at $6,292,166.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, President William D. Jenkins, Jr. sold 1,621 shares of the company’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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $293.31, for a total transaction of $10,559,160.00. Following the completion of the transaction, the executive vice president now owns 1,259,567 shares of the company’s stock, valued at approximately $369,443,596.77. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 367,315 shares of company stock valued at $118,696,590. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Up 0.8 %

Shares of PANW traded up $2.28 on Wednesday, reaching $304.21. 3,564,255 shares of the company’s stock were exchanged, compared to its average volume of 4,428,755. The stock has a market capitalization of $98.50 billion, a P/E ratio of 45.25, a price-to-earnings-growth ratio of 4.16 and a beta of 1.14. The business has a 50 day moving average price of $321.07 and a two-hundred day moving average price of $311.41. Palo Alto Networks, Inc. has a 12 month low of $201.17 and a 12 month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Palo Alto Networks’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share. Equities research analysts predict that Palo Alto Networks, Inc. will post 2.94 EPS for the current year.

About Palo Alto Networks

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.