Harbour Capital Advisors LLC Acquires 2,392 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Harbour Capital Advisors LLC increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 23.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 12,395 shares of the network technology company’s stock after purchasing an additional 2,392 shares during the quarter. Harbour Capital Advisors LLC’s holdings in Palo Alto Networks were worth $2,047,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL lifted its holdings in Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after buying an additional 55 shares during the period. JDM Financial Group LLC boosted its holdings in shares of Palo Alto Networks by 22.4% during the 4th quarter. JDM Financial Group LLC now owns 322 shares of the network technology company’s stock valued at $59,000 after buying an additional 59 shares in the last quarter. Adero Partners LLC grew its holdings in Palo Alto Networks by 4.3% in the first quarter. Adero Partners LLC now owns 1,556 shares of the network technology company’s stock worth $266,000 after purchasing an additional 64 shares during the period. Snider Financial Group increased its position in Palo Alto Networks by 0.4% during the 1st quarter. Snider Financial Group now owns 17,729 shares of the network technology company’s stock valued at $3,025,000 after buying an additional 65 shares in the last quarter. Finally, Grimes & Company Inc. increased its holdings in shares of Palo Alto Networks by 5.3% during the first quarter. Grimes & Company Inc. now owns 1,310 shares of the network technology company’s stock valued at $224,000 after acquiring an additional 66 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays decreased their price objective on shares of Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, May 21st. Guggenheim restated a “sell” rating and set a $130.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Morgan Stanley cut their price target on Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. HSBC raised shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price objective for the company in a research note on Thursday, April 10th. Finally, TD Securities reissued a “buy” rating and issued a $230.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average target price of $208.00.

Insider Buying and Selling

In related news, EVP Nir Zuk sold 100,000 shares of the business’s stock in a transaction 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 directly owns 3,543,516 shares in the company, valued at $586,132,981.56. The trade was a 2.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Nikesh Arora sold 227,414 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total value of $39,281,220.22. Following the sale, the chief executive officer now owns 317,571 shares in the company, valued at $54,854,038.83. The trade was a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 790,536 shares of company stock valued at $139,998,368 over the last three months. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $203.32 on Tuesday. The business’s 50 day moving average price is $188.10 and its 200-day moving average price is $185.08. The company has a market cap of $135.57 billion, a price-to-earnings ratio of 116.18, a PEG ratio of 5.56 and a beta of 0.97. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $2.29 billion for 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 company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. Sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

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.