Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Position Lifted by Game Plan Financial Advisors LLC

Game Plan Financial Advisors LLC increased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,846 shares of the network technology company’s stock after purchasing an additional 64 shares during the period. Game Plan Financial Advisors LLC’s holdings in Palo Alto Networks were worth $1,377,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Palo Alto Networks by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock worth $8,129,800,000 after purchasing an additional 1,058,127 shares during the last quarter. Norges Bank bought a new stake in Palo Alto Networks during the 4th quarter valued at $1,563,020,000. Clearbridge Investments LLC raised its stake in Palo Alto Networks by 1.0% during the 4th quarter. Clearbridge Investments LLC now owns 3,136,547 shares of the network technology company’s stock valued at $924,905,000 after acquiring an additional 30,013 shares in the last quarter. Jennison Associates LLC raised its stake in Palo Alto Networks by 83.1% during the 4th quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock valued at $771,643,000 after acquiring an additional 1,187,915 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in Palo Alto Networks by 29,086.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock valued at $606,854,000 after acquiring an additional 2,050,917 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In other news, President William D. Jenkins, Jr. sold 1,621 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total transaction of $497,517.32. Following the completion of the transaction, the president now directly owns 20,501 shares of the company’s stock, valued at $6,292,166.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Aparna Bawa sold 322 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total transaction of $99,820.00. Following the completion of the transaction, the director now directly owns 3,767 shares of the company’s stock, valued at $1,167,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President William D. Jenkins, Jr. sold 1,621 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total value of $497,517.32. Following the transaction, the president now directly owns 20,501 shares of the company’s stock, valued at $6,292,166.92. The disclosure for this sale can be found here. Insiders sold 258,182 shares of company stock valued at $74,850,597 over the last three months. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Down 0.3 %

Shares of Palo Alto Networks stock traded down $0.93 during trading on Monday, reaching $319.40. 1,497,107 shares of the company were exchanged, compared to its average volume of 4,871,960. The business has a 50-day moving average price of $301.84 and a 200-day moving average price of $306.17. The firm has a market capitalization of $103.42 billion, a price-to-earnings ratio of 47.07, a P/E/G ratio of 4.77 and a beta of 1.10. Palo Alto Networks, Inc. has a twelve month low of $201.17 and a twelve month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PANW. Daiwa America upgraded Palo Alto Networks to a “strong-buy” rating in a research report on Wednesday, May 29th. JMP Securities reissued a “market outperform” rating and set a $380.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Susquehanna lifted their price objective on Palo Alto Networks from $325.00 to $340.00 and gave the company a “positive” rating in a research report on Tuesday, May 21st. DA Davidson assumed coverage on Palo Alto Networks in a research report on Friday. They issued a “buy” rating and a $380.00 price target for the company. Finally, Royal Bank of Canada reduced their price target on Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st. Twelve investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $324.17.

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.