Harbor Investment Advisory LLC Increases Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Harbor Investment Advisory LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 11.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,960 shares of the network technology company’s stock after buying an additional 300 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Palo Alto Networks were worth $841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GSG Advisors LLC grew its stake in Palo Alto Networks by 1.0% during the 4th quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock valued at $1,478,000 after purchasing an additional 51 shares during the last quarter. Spirit of America Management Corp NY lifted its holdings in shares of Palo Alto Networks by 50.0% in the 4th quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock valued at $88,000 after buying an additional 100 shares during the period. Beacon Pointe Advisors LLC raised its holdings in Palo Alto Networks by 31.4% in the 4th quarter. Beacon Pointe Advisors LLC now owns 112,040 shares of the network technology company’s stock worth $33,038,000 after purchasing an additional 26,767 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in Palo Alto Networks by 9.9% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,726 shares of the network technology company’s stock worth $7,291,000 after purchasing an additional 2,225 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group raised its holdings in Palo Alto Networks by 46.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 4,178 shares of the network technology company’s stock worth $1,232,000 after purchasing an additional 1,325 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $316.68 on Tuesday. Palo Alto Networks, Inc. has a 1 year low of $201.17 and a 1 year high of $380.84. The stock’s 50-day moving average is $302.73 and its two-hundred day moving average is $306.33. The firm has a market cap of $102.54 billion, a price-to-earnings ratio of 46.03, a PEG ratio of 4.91 and a beta of 1.11.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the company posted $0.38 earnings per share. The business’s revenue was up 15.3% on a year-over-year basis. As a group, research analysts predict that Palo Alto Networks, Inc. will post 2.94 EPS for the current year.

Wall Street Analyst Weigh In

PANW has been the subject of a number of research analyst reports. Morgan Stanley reissued an “overweight” rating and set a $360.00 target price on shares of Palo Alto Networks in a report on Wednesday, June 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $350.00 target price on shares of Palo Alto Networks in a report on Friday. Oppenheimer reissued an “outperform” rating and set a $330.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 21st. Evercore ISI dropped their price target on Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating for the company in a research report on Tuesday, May 14th. Finally, KeyCorp upped their price target on Palo Alto Networks from $355.00 to $384.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Twelve investment analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $324.17.

Insider Buying and Selling

In other Palo Alto Networks news, Director John P. Key sold 2,163 shares of Palo Alto Networks stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $305.41, for a total value of $660,601.83. Following the sale, the director now owns 12,639 shares of the company’s stock, valued at approximately $3,860,076.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President William D. Jenkins, Jr. sold 1,621 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total transaction of $497,517.32. Following the completion of the sale, the president now directly owns 20,501 shares in the company, valued at approximately $6,292,166.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John P. Key sold 2,163 shares of Palo Alto Networks stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $305.41, for a total value of $660,601.83. Following the transaction, the director now owns 12,639 shares of the company’s stock, valued at $3,860,076.99. The disclosure for this sale can be found here. Insiders have sold a total of 258,182 shares of company stock valued at $74,850,597 over the last quarter. 3.30% of the stock is currently owned by 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.