NBW Capital LLC Purchases 89 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

NBW Capital LLC raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,045 shares of the network technology company’s stock after purchasing an additional 89 shares during the period. Palo Alto Networks comprises 1.9% of NBW Capital LLC’s portfolio, making the stock its 13th biggest position. NBW Capital LLC’s holdings in Palo Alto Networks were worth $9,508,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PANW. Trinity Legacy Partners LLC raised its holdings in shares of Palo Alto Networks by 2.9% in the 2nd quarter. Trinity Legacy Partners LLC now owns 13,222 shares of the network technology company’s stock valued at $4,482,000 after purchasing an additional 372 shares in the last quarter. Semmax Financial Advisors Inc. increased its holdings in Palo Alto Networks by 226.5% during the second quarter. Semmax Financial Advisors Inc. now owns 160 shares of the network technology company’s stock valued at $53,000 after buying an additional 111 shares during the period. Tremblant Capital Group raised its stake in Palo Alto Networks by 2,310.9% in the second quarter. Tremblant Capital Group now owns 75,896 shares of the network technology company’s stock worth $25,730,000 after buying an additional 72,748 shares in the last quarter. Resources Management Corp CT ADV lifted its holdings in Palo Alto Networks by 0.7% during the second quarter. Resources Management Corp CT ADV now owns 6,634 shares of the network technology company’s stock worth $2,249,000 after buying an additional 44 shares during the period. Finally, Xponance Inc. boosted its position in Palo Alto Networks by 1.6% during the 2nd quarter. Xponance Inc. now owns 72,615 shares of the network technology company’s stock valued at $24,617,000 after acquiring an additional 1,154 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Down 0.2 %

PANW stock opened at $343.52 on Wednesday. Palo Alto Networks, Inc. has a 52-week low of $224.64 and a 52-week high of $380.84. The stock has a market cap of $111.85 billion, a price-to-earnings ratio of 49.93, a price-to-earnings-growth ratio of 4.99 and a beta of 1.13. The business has a fifty day moving average of $336.56 and a two-hundred day moving average of $314.43.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. Palo Alto Networks’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 EPS. As a group, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the sale, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at $8,443,916. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the sale, the chief accounting officer now owns 24,982 shares in the company, valued at approximately $8,443,916. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President William D. Jenkins, Jr. sold 1,475 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $339.12, for a total value of $500,202.00. Following the transaction, the president now owns 19,026 shares of the company’s stock, valued at $6,452,097.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 464,075 shares of company stock worth $154,029,567. 3.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PANW has been the subject of several recent research reports. Daiwa America raised Palo Alto Networks to a “strong-buy” rating in a research report on Wednesday, May 29th. Morgan Stanley increased their price target on shares of Palo Alto Networks from $360.00 to $390.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Sanford C. Bernstein lifted their price objective on shares of Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company boosted their price objective on shares of Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, JMP Securities restated a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $366.08.

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.