Resources Management Corp CT ADV Raises Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Resources Management Corp CT ADV increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,634 shares of the network technology company’s stock after acquiring an additional 44 shares during the period. Resources Management Corp CT ADV’s holdings in Palo Alto Networks were worth $2,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new position in Palo Alto Networks in the 1st quarter worth $25,000. Frank Rimerman Advisors LLC purchased a new position in Palo Alto Networks in the 4th quarter worth $27,000. Financial Synergies Wealth Advisors Inc. raised its stake in shares of 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 buying an additional 96 shares during the last quarter. Ulland Investment Advisors LLC purchased a new position in shares of Palo Alto Networks during the 1st quarter valued at about $30,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Palo Alto Networks during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of PANW opened at $344.17 on Tuesday. Palo Alto Networks, Inc. has a fifty-two week low of $224.64 and a fifty-two week high of $380.84. The company has a market capitalization of $111.44 billion, a price-to-earnings ratio of 50.02, a price-to-earnings-growth ratio of 5.04 and a beta of 1.13. The firm has a 50-day simple moving average of $336.46 and a 200-day simple moving average of $313.98.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 earnings per share. Equities research analysts forecast that Palo Alto Networks, Inc. will post 3.55 EPS for the current year.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the transaction, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at $54,854,924.82. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $338.00, for a total transaction of $67,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the transaction, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at $54,854,924.82. The disclosure for this sale can be found here. Insiders sold 464,075 shares of company stock valued at $154,029,567 over the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on PANW shares. JMP Securities restated a “market outperform” rating and issued a $380.00 price target on shares of Palo Alto Networks in a research note on Tuesday, August 20th. The Goldman Sachs Group lifted their price target on Palo Alto Networks from $330.00 to $376.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Royal Bank of Canada lifted their price target on Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Stifel Nicolaus lifted their price target on Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, Rosenblatt Securities lifted their price objective on Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $366.08.

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.