Legacy Wealth Management LLC MS Has $8.17 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Legacy Wealth Management LLC MS raised its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,864 shares of the network technology company’s stock after buying an additional 924 shares during the quarter. Palo Alto Networks comprises 2.7% of Legacy Wealth Management LLC MS’s portfolio, making the stock its 6th largest holding. Legacy Wealth Management LLC MS’s holdings in Palo Alto Networks were worth $8,168,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PANW. Transce3nd LLC purchased a new stake in Palo Alto Networks in the fourth quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL grew its position in shares of Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after buying an additional 55 shares during the last quarter. Atlantic Edge Private Wealth Management LLC boosted its holdings 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 valued at $27,000 after acquiring an additional 106 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Palo Alto Networks by 102.6% during the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after buying an additional 79 shares during the period. Finally, Anchor Investment Management LLC raised its position in shares of Palo Alto Networks by 100.0% in the 4th 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 in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PANW shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $223.00 price target on shares of Palo Alto Networks in a research report on Monday, May 19th. JMP Securities raised their target price on shares of Palo Alto Networks from $208.00 to $212.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Susquehanna upped their price target on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a “positive” rating in a research report on Tuesday, February 18th. HSBC raised Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 target price on the stock in a report on Thursday, April 10th. Finally, UBS Group lifted their price target on shares of Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.40.

Palo Alto Networks Stock Up 0.2%

PANW stock opened at $187.80 on Thursday. The company has a market cap of $125.23 billion, a P/E ratio of 105.80, a PEG ratio of 5.64 and a beta of 1.02. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The business has a fifty day moving average of $178.27 and a 200-day moving average of $185.22.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data 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 return on equity of 21.93% and a net margin of 14.64%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter last year, the business posted $0.66 EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the sale, the executive vice president now owns 321,774 shares in the company, valued at $48,629,704.62. This trade represents a 27.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nir Zuk sold 100,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 3,543,516 shares of the company’s stock, 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 568,962 shares of company stock valued at $96,933,690 in the last three months. 2.50% of the stock is currently owned by corporate insiders.

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.