Palo Alto Networks, Inc. (NASDAQ:PANW) is Adell Harriman & Carpenter Inc.’s 6th Largest Position

Adell Harriman & Carpenter Inc. increased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 107,935 shares of the network technology company’s stock after buying an additional 630 shares during the period. Palo Alto Networks accounts for approximately 2.9% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its 6th largest holding. Adell Harriman & Carpenter Inc.’s holdings in Palo Alto Networks were worth $31,828,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PANW. MV Capital Management Inc. raised its holdings in shares of Palo Alto Networks by 37.2% during the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after acquiring an additional 29 shares in the last quarter. Quent Capital LLC raised its holdings in Palo Alto Networks by 15.9% during the 4th quarter. Quent Capital LLC now owns 233 shares of the network technology company’s stock valued at $69,000 after buying an additional 32 shares during the period. Parisi Gray Wealth Management lifted its holdings in shares of Palo Alto Networks by 2.2% in the 4th quarter. Parisi Gray Wealth Management now owns 1,519 shares of the network technology company’s stock worth $448,000 after acquiring an additional 33 shares during the last quarter. Argonautica Private Wealth Management Inc. grew its holdings in Palo Alto Networks by 2.3% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,527 shares of the network technology company’s stock valued at $450,000 after purchasing an additional 34 shares during the last quarter. Finally, Howard Financial Services LTD. grew its stake in shares of Palo Alto Networks by 3.4% during the fourth quarter. Howard Financial Services LTD. now owns 1,061 shares of the network technology company’s stock valued at $313,000 after buying an additional 35 shares during the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Performance

PANW stock traded up $1.99 during mid-day trading on Monday, reaching $293.41. The company had a trading volume of 2,980,698 shares, compared to its average volume of 5,393,513. The firm has a fifty day simple moving average of $287.61 and a 200 day simple moving average of $292.58. Palo Alto Networks, Inc. has a fifty-two week low of $176.30 and a fifty-two week high of $380.84. The company has a market capitalization of $94.80 billion, a price-to-earnings ratio of 45.97, a price-to-earnings-growth ratio of 3.96 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.58 by $0.22. 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 30.24% and a return on equity of 36.58%. As a group, analysts predict that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PANW. JMP Securities reiterated a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 21st. Westpark Capital reissued a “hold” rating on shares of Palo Alto Networks in a research report on Monday, January 29th. Oppenheimer lifted their price target on shares of Palo Alto Networks from $305.00 to $330.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Evercore ISI increased their price objective on Palo Alto Networks from $315.00 to $405.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Finally, Susquehanna reduced their price objective on Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating on the stock in a report on Monday, February 26th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.82.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total value of $523,002.71. Following the transaction, the president now directly owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of Palo Alto Networks stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total value of $523,002.71. Following the sale, the president now owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $284.33, for a total value of $17,059,800.00. Following the completion of the sale, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at $56,327,194.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,917 shares of company stock worth $33,959,203. 3.30% of the stock is owned by company 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.