Crew Capital Management Ltd. Has $394,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Crew Capital Management Ltd. increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 2,310 shares of the network technology company’s stock after acquiring an additional 57 shares during the quarter. Crew Capital Management Ltd.’s holdings in Palo Alto Networks were worth $394,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Palo Alto Networks by 147.7% during the 4th quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock worth $1,230,000 after buying an additional 4,031 shares during the period. Bank Pictet & Cie Europe AG grew its position in shares of Palo Alto Networks by 115.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 43,985 shares of the network technology company’s stock worth $8,004,000 after buying an additional 23,586 shares during the period. Proficio Capital Partners LLC grew its position in shares of Palo Alto Networks by 215.8% during the 4th quarter. Proficio Capital Partners LLC now owns 2,416 shares of the network technology company’s stock worth $440,000 after buying an additional 1,651 shares during the period. Dana Investment Advisors Inc. grew its position in shares of Palo Alto Networks by 98.7% during the 4th quarter. Dana Investment Advisors Inc. now owns 4,622 shares of the network technology company’s stock worth $841,000 after buying an additional 2,296 shares during the period. Finally, One Capital Management LLC grew its position in shares of Palo Alto Networks by 18.8% during the 4th quarter. One Capital Management LLC now owns 3,128 shares of the network technology company’s stock worth $569,000 after buying an additional 494 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $201.50 on Friday. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39. The business has a fifty day moving average price of $193.80 and a 200-day moving average price of $185.42. The company has a market capitalization of $134.36 billion, a PE ratio of 115.14, a PEG ratio of 5.63 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the firm posted $0.66 earnings per share. Palo Alto Networks’s revenue was up 15.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $195.14, for a total value of $23,567,838.36. Following the transaction, the executive vice president directly owned 264,246 shares of the company’s stock, valued at approximately $51,564,964.44. This trade represents a 31.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 600 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $204.00, for a total value of $122,400.00. Following the completion of the transaction, the chief accounting officer directly owned 41,433 shares in the company, valued at $8,452,332. The trade was a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 668,722 shares of company stock valued at $121,714,798. 2.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays reduced their price target on shares of Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, May 21st. Sanford C. Bernstein set a $225.00 price target on shares of Palo Alto Networks and gave the company an “outperform” rating in a research report on Wednesday, May 21st. Jefferies Financial Group lifted their price target on shares of Palo Alto Networks from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Hsbc Global Res raised shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research report on Thursday, April 10th. Finally, Stephens downgraded shares of Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $208.00.

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.