Mutual Advisors LLC Has $2.70 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Mutual Advisors LLC raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.4% in the first quarter, HoldingsChannel reports. The fund owned 15,075 shares of the network technology company’s stock after acquiring an additional 206 shares during the period. Mutual Advisors LLC’s holdings in Palo Alto Networks were worth $2,698,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PANW. Transce3nd LLC bought a new position in Palo Alto Networks during the 4th quarter worth $25,000. Strategic Investment Solutions Inc. IL boosted its position in shares of 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 valued at $26,000 after acquiring an additional 55 shares during the period. Kiely Wealth Advisory Group Inc. grew its stake in shares of Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 75 shares in the last quarter. Anchor Investment Management LLC increased its position in Palo Alto Networks by 100.0% during the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock worth $28,000 after acquiring an additional 78 shares during the period. Finally, Capital A Wealth Management LLC acquired a new stake in Palo Alto Networks in the 4th quarter worth about $29,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity

In other news, EVP Nir Zuk sold 100,000 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $193.36, for a total value of $19,336,000.00. Following the sale, the executive vice president directly owned 3,343,516 shares of the company’s stock, valued at approximately $646,502,253.76. This represents a 2.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the sale, the executive vice president owned 321,774 shares of the company’s stock, 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 a total of 668,722 shares of company stock worth $121,714,798 in the last 90 days. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Stock Up 2.3%

Shares of Palo Alto Networks stock opened at $201.50 on Friday. The stock has a market cap of $134.36 billion, a price-to-earnings ratio of 115.14, a P/E/G ratio of 5.50 and a beta of 0.97. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The company’s fifty day moving average is $193.35 and its 200 day moving average is $185.44.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on PANW. Guggenheim restated a “sell” rating and set a $130.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Barclays reduced their price target on Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 21st. Morgan Stanley dropped their price objective on Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Roth Capital began coverage on Palo Alto Networks in a research report on Thursday, May 15th. They set a “neutral” rating and a $210.00 target price for the company. Finally, Wells Fargo & Company raised their price target on Palo Alto Networks from $225.00 to $235.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 21st. Two investment 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 stock. Based on data from MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average target price of $208.00.

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.