Mirador Capital Partners LP Raises Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Mirador Capital Partners LP grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 182.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,277 shares of the network technology company’s stock after acquiring an additional 10,507 shares during the period. Palo Alto Networks comprises approximately 0.9% of Mirador Capital Partners LP’s investment portfolio, making the stock its 29th biggest holding. Mirador Capital Partners LP’s holdings in Palo Alto Networks were worth $4,625,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Frank Rimerman Advisors LLC purchased a new stake in shares of Palo Alto Networks in the 4th quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. boosted its position in Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 96 shares in the last quarter. Webster Bank N. A. boosted its position in Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 85 shares in the last quarter. Cedar Mountain Advisors LLC increased its holdings in shares of Palo Alto Networks by 87.0% in the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 47 shares during the period. Finally, Central Bank & Trust Co. raised its position in shares of Palo Alto Networks by 89.3% in the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 0.9 %

PANW traded down $3.10 during mid-day trading on Monday, hitting $335.91. 518,753 shares of the stock were exchanged, compared to its average volume of 4,809,138. The firm’s fifty day moving average is $307.06 and its two-hundred day moving average is $307.11. Palo Alto Networks, Inc. has a 1-year low of $201.17 and a 1-year high of $380.84. The company has a market cap of $108.77 billion, a PE ratio of 49.48, a PEG ratio of 5.19 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 EPS. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on PANW shares. Citigroup raised their target price on shares of Palo Alto Networks from $335.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Sanford C. Bernstein increased their price target on Palo Alto Networks from $335.00 to $364.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Oppenheimer restated an “outperform” rating and set a $330.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Redburn Atlantic increased their price objective on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Finally, DA Davidson initiated coverage on shares of Palo Alto Networks in a research note on Friday, June 21st. They set a “buy” rating and a $380.00 price target on the stock. Twelve equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $326.29.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, Director Aparna Bawa sold 322 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total value of $99,820.00. Following the sale, the director now directly owns 3,767 shares in the company, valued at $1,167,770. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Palo Alto Networks news, EVP Lee Klarich sold 800 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $300.21, for a total transaction of $240,168.00. Following the transaction, the executive vice president now owns 166,542 shares of the company’s stock, valued at $49,997,573.82. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Aparna Bawa sold 322 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total value of $99,820.00. Following the completion of the sale, the director now directly owns 3,767 shares of the company’s stock, valued at $1,167,770. The disclosure for this sale can be found here. In the last three months, insiders have sold 258,182 shares of company stock valued at $74,850,597. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Company 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.