Cornerstone Advisory LLC Has $1.41 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Cornerstone Advisory LLC raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 77.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,043 shares of the network technology company’s stock after acquiring an additional 3,066 shares during the period. Cornerstone Advisory LLC’s holdings in Palo Alto Networks were worth $1,409,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Uniting Wealth Partners LLC acquired a new position in Palo Alto Networks in the 4th quarter valued at approximately $548,000. Rehmann Capital Advisory Group raised its holdings in Palo Alto Networks by 106.4% in the 4th quarter. Rehmann Capital Advisory Group now owns 2,378 shares of the network technology company’s stock valued at $433,000 after acquiring an additional 1,226 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Palo Alto Networks by 94.3% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company’s stock valued at $2,122,000 after acquiring an additional 5,658 shares in the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in Palo Alto Networks by 108.1% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 21,354 shares of the network technology company’s stock valued at $3,886,000 after acquiring an additional 11,095 shares in the last quarter. Finally, National Pension Service raised its holdings in Palo Alto Networks by 82.1% in the 4th quarter. National Pension Service now owns 1,345,740 shares of the network technology company’s stock valued at $244,871,000 after acquiring an additional 606,778 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analysts Set New Price Targets

PANW has been the subject of a number of recent research reports. Citigroup increased their target price on Palo Alto Networks from $205.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Susquehanna increased their target price on Palo Alto Networks from $217.50 to $230.00 and gave the stock a “positive” rating in a report on Tuesday, February 18th. Hsbc Global Res raised Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 10th. UBS Group increased their target price on Palo Alto Networks from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, Wells Fargo & Company increased their target price on Palo Alto Networks from $225.00 to $235.00 and gave the stock an “overweight” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $206.40.

Palo Alto Networks Price Performance

PANW opened at $181.26 on Thursday. The business’s 50-day moving average price is $178.01 and its two-hundred day moving average price is $185.29. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The company has a market capitalization of $120.01 billion, a price-to-earnings ratio of 102.12, a P/E/G ratio of 5.64 and a beta of 1.02.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter last year, the business posted $0.66 EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. Sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the transaction, the executive vice president now owns 3,543,516 shares of the company’s stock, valued at $586,132,981.56. The trade was a 2.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $189.27, for a total value of $22,858,894.98. Following the transaction, the executive vice president now directly owns 293,010 shares in the company, valued at approximately $55,458,002.70. This trade represents a 29.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 568,962 shares of company stock valued at $96,933,690. 2.50% of the stock is 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.