Broadway Wealth Solutions Inc. Has $471,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Broadway Wealth Solutions Inc. lessened its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,762 shares of the network technology company’s stock after selling 93 shares during the period. Palo Alto Networks makes up 0.3% of Broadway Wealth Solutions Inc.’s portfolio, making the stock its 26th biggest position. Broadway Wealth Solutions Inc.’s holdings in Palo Alto Networks were worth $471,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PANW. Transce3nd LLC acquired a new position in Palo Alto Networks in the fourth quarter worth about $25,000. Strategic Investment Solutions Inc. IL raised its position in Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Atlantic Edge Private Wealth Management LLC raised its position in Palo Alto Networks by 265.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock worth $27,000 after purchasing an additional 106 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in Palo Alto Networks by 102.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock worth $28,000 after purchasing an additional 79 shares in the last quarter. Finally, Anchor Investment Management LLC raised its position in Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock worth $28,000 after purchasing an additional 78 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $199.60 on Friday. The company’s 50-day moving average price is $180.48 and its two-hundred day moving average price is $185.02. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39. The stock has a market capitalization of $133.09 billion, a PE ratio of 112.45, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the previous year, the firm posted $0.66 EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PANW has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $225.00 price objective on shares of Palo Alto Networks in a report on Monday, February 10th. TD Securities reissued a “buy” rating and issued a $230.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $223.00 price target on shares of Palo Alto Networks in a report on Monday, May 19th. KeyCorp reissued an “overweight” rating and issued a $220.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $235.00 price target on shares of Palo Alto Networks in a report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.00.

Insiders Place Their Bets

In other news, EVP Nir Zuk sold 100,000 shares of the company’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total value of $16,541,000.00. Following the sale, the executive vice president now directly owns 3,543,516 shares of the company’s stock, valued at approximately $586,132,981.56. This represents a 2.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the completion of the sale, the executive vice president now directly owns 321,774 shares in the company, valued at approximately $48,629,704.62. The trade was a 27.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 789,736 shares of company stock valued at $139,837,528 in the last three months. 2.50% of the stock is currently owned by corporate insiders.

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.