Boston Family Office LLC Buys 4,115 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Boston Family Office LLC increased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,661 shares of the network technology company’s stock after buying an additional 4,115 shares during the quarter. Palo Alto Networks comprises approximately 1.3% of Boston Family Office LLC’s holdings, making the stock its 27th largest holding. Boston Family Office LLC’s holdings in Palo Alto Networks were worth $18,201,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Csenge Advisory Group lifted its position in shares of Palo Alto Networks by 2.4% during the first quarter. Csenge Advisory Group now owns 2,271 shares of the network technology company’s stock worth $381,000 after purchasing an additional 53 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its position in shares of Palo Alto Networks by 64.0% during 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 during the last quarter. SYM FINANCIAL Corp lifted its position in shares of Palo Alto Networks by 1.4% during the first quarter. SYM FINANCIAL Corp now owns 4,047 shares of the network technology company’s stock worth $691,000 after purchasing an additional 55 shares during the last quarter. Crew Capital Management Ltd. lifted its position in shares of Palo Alto Networks by 2.5% during the first quarter. Crew Capital Management Ltd. now owns 2,310 shares of the network technology company’s stock worth $394,000 after purchasing an additional 57 shares during the last quarter. Finally, JDM Financial Group LLC lifted its position in shares of Palo Alto Networks by 22.4% during the fourth quarter. JDM Financial Group LLC now owns 322 shares of the network technology company’s stock worth $59,000 after purchasing an additional 59 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Trading Up 2.0%

Shares of NASDAQ:PANW opened at $177.09 on Friday. Palo Alto Networks, Inc. has a 12-month low of $144.15 and a 12-month high of $210.39. The company has a market capitalization of $118.08 billion, a PE ratio of 101.19, a PEG ratio of 4.26 and a beta of 0.94. The business has a 50 day moving average of $192.00 and a two-hundred day moving average of $186.41.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the previous year, the company posted $0.66 earnings per share. Palo Alto Networks’s revenue for the quarter was up 15.3% on a year-over-year basis. Equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PANW shares. TD Securities reiterated a “buy” rating and set a $230.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Wells Fargo & Company lifted their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. JPMorgan Chase & Co. decreased their price objective on Palo Alto Networks from $225.00 to $221.00 and set an “overweight” rating for the company in a report on Wednesday, May 21st. Sanford C. Bernstein set a $225.00 price objective on Palo Alto Networks and gave the company an “outperform” rating in a report on Wednesday, May 21st. Finally, DA Davidson decreased their price objective on Palo Alto Networks from $225.00 to $215.00 and set a “buy” rating for the company in a report on Thursday, July 31st. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.01.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $195.14, for a total value of $23,567,838.36. Following the completion of the transaction, the executive vice president directly owned 264,246 shares of the company’s stock, valued at approximately $51,564,964.44. The trade was a 31.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Aparna Bawa sold 526 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $190.00, for a total value of $99,940.00. Following the completion of the transaction, the director directly owned 8,632 shares of the company’s stock, valued at $1,640,080. The trade was a 5.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 669,248 shares of company stock valued at $126,423,337 in the last three months. 2.50% of the stock is currently owned by company 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.