Autumn Glory Partners LLC Acquires 320 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Autumn Glory Partners LLC boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 25.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,588 shares of the network technology company’s stock after acquiring an additional 320 shares during the quarter. Autumn Glory Partners LLC’s holdings in Palo Alto Networks were worth $271,000 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. Transce3nd LLC bought a new position in Palo Alto Networks in the 4th quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL lifted its holdings in shares of Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after buying an additional 55 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in shares of Palo Alto Networks by 102.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after buying an additional 79 shares during the period. Anchor Investment Management LLC lifted its holdings in shares of Palo Alto Networks by 100.0% during the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after buying an additional 78 shares during the period. Finally, Kiely Wealth Advisory Group Inc. lifted its holdings in shares of Palo Alto Networks by 100.0% during the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock valued at $29,000 after buying an additional 75 shares during the period. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Trading Down 1.1%

Shares of NASDAQ:PANW opened at $199.78 on Thursday. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39. The company has a 50-day moving average price of $186.18 and a 200 day moving average price of $185.26. The company has a market cap of $133.21 billion, a price-to-earnings ratio of 114.16, a PEG ratio of 5.64 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. As a group, equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Nikesh Arora sold 227,414 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the completion of the sale, the chief executive officer now owns 317,571 shares of the company’s stock, valued at approximately $54,854,038.83. The trade was a 41.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the sale, the executive vice president now directly owns 3,543,516 shares of the company’s stock, valued at $586,132,981.56. This represents a 2.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 789,736 shares of company stock valued at $139,837,528 over the last 90 days. Insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PANW. Jefferies Financial Group increased their price target on Palo Alto Networks from $215.00 to $225.00 and gave the company a “buy” rating in a report on Friday, May 16th. Rosenblatt Securities reissued a “buy” rating and set a $235.00 price target on shares of Palo Alto Networks in a report on Tuesday, May 20th. Sanford C. Bernstein set a $225.00 price target on Palo Alto Networks and gave the company an “outperform” rating in a report on Wednesday, May 21st. TD Securities reissued a “buy” rating and set a $230.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. Finally, Citigroup raised 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. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $208.00.

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.