Jamison Private Wealth Management Inc. Purchases 1,163 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Jamison Private Wealth Management Inc. raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.7% in the first quarter, Holdings Channel reports. The fund owned 32,859 shares of the network technology company’s stock after buying an additional 1,163 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Palo Alto Networks were worth $5,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Palo Alto Networks by 104.4% during the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company’s stock valued at $11,142,122,000 after acquiring an additional 31,281,359 shares during the period. Geode Capital Management LLC boosted its holdings in Palo Alto Networks by 87.8% during the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company’s stock valued at $2,611,013,000 after acquiring an additional 6,725,148 shares during the period. Capital Research Global Investors boosted its holdings in Palo Alto Networks by 83.8% during the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company’s stock valued at $1,533,419,000 after acquiring an additional 3,841,359 shares during the period. Northern Trust Corp boosted its holdings in Palo Alto Networks by 133.7% during the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company’s stock valued at $1,427,048,000 after acquiring an additional 4,486,654 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Palo Alto Networks by 17.6% during the fourth quarter. Ameriprise Financial Inc. now owns 7,277,739 shares of the network technology company’s stock valued at $1,324,387,000 after acquiring an additional 1,088,631 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Nikesh Arora sold 227,414 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the sale, the chief executive officer now directly owns 317,571 shares of the company’s stock, valued at $54,854,038.83. This represents a 41.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nir Zuk sold 100,000 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the sale, the executive vice president now directly owns 3,543,516 shares in the company, valued at $586,132,981.56. This trade represents a 2.74% 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 over the last three months. 2.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PANW. KeyCorp reaffirmed an “overweight” rating and set a $220.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Jefferies Financial Group upped their price objective on shares of Palo Alto Networks from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Citigroup upped their price objective on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price objective on shares of Palo Alto Networks from $225.00 to $221.00 and set an “overweight” rating for the company in a research report on Wednesday, May 21st. Finally, Guggenheim reaffirmed a “sell” rating and set a $130.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.00.

Palo Alto Networks Trading Down 0.3%

NASDAQ PANW opened at $199.24 on Friday. The firm has a market cap of $132.85 billion, a price-to-earnings ratio of 113.85, a PEG ratio of 5.57 and a beta of 0.97. The company has a 50 day moving average of $187.43 and a 200-day moving average of $185.31. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the business posted $0.66 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis. On average, analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share 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.