1,122 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Purchased by Cynosure Group LLC

Cynosure Group LLC bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,122 shares of the network technology company’s stock, valued at approximately $319,000.

Several other institutional investors also recently added to or reduced their stakes in PANW. Frank Rimerman Advisors LLC acquired a new position in Palo Alto Networks during the 4th quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. increased its holdings in shares of Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after purchasing an additional 96 shares during the period. Webster Bank N. A. raised its position in shares of Palo Alto Networks by 607.1% during the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after buying an additional 85 shares during the last quarter. Cedar Mountain Advisors LLC lifted its stake in shares of Palo Alto Networks by 87.0% in the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after buying an additional 47 shares during the period. Finally, Ulland Investment Advisors LLC acquired a new stake in Palo Alto Networks during the first quarter worth about $30,000. 79.82% of the stock is owned by institutional investors.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,621 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total value of $497,517.32. Following the completion of the transaction, the president now directly owns 20,501 shares in the company, valued at $6,292,166.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 125,866 shares of Palo Alto Networks stock in a transaction on Monday, July 8th. The shares were sold at an average price of $335.00, for a total transaction of $42,165,110.00. Following the completion of the transaction, the executive vice president now directly owns 166,542 shares of the company’s stock, valued at $55,791,570. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President William D. Jenkins, Jr. sold 1,621 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total transaction of $497,517.32. Following the completion of the transaction, the president now directly owns 20,501 shares in the company, valued at $6,292,166.92. The disclosure for this sale can be found here. Insiders sold a total of 428,391 shares of company stock worth $136,147,317 in the last three months. Insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PANW. Argus raised their price objective on Palo Alto Networks from $336.00 to $348.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. DA Davidson assumed coverage on Palo Alto Networks in a research report on Friday, June 21st. They issued a “buy” rating and a $380.00 target price for the company. Citigroup boosted their price target on shares of Palo Alto Networks from $335.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. JPMorgan Chase & Co. raised their price objective on shares of Palo Alto Networks from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Finally, Robert W. Baird increased their price target on shares of Palo Alto Networks from $340.00 to $360.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $325.59.

Palo Alto Networks Trading Up 1.1 %

Shares of PANW stock traded up $3.66 on Tuesday, hitting $337.36. 861,694 shares of the stock were exchanged, compared to its average volume of 4,541,189. The firm has a market capitalization of $109.24 billion, a P/E ratio of 48.71, a price-to-earnings-growth ratio of 5.07 and a beta of 1.14. Palo Alto Networks, Inc. has a fifty-two week low of $201.17 and a fifty-two week high of $380.84. The business has a 50-day moving average of $320.41 and a 200 day moving average of $311.48.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The business’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 EPS. As a group, research analysts forecast that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal 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.