948 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Bought by McGlone Suttner Wealth Management Inc.

McGlone Suttner Wealth Management Inc. bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 948 shares of the network technology company’s stock, valued at approximately $280,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Covestor Ltd lifted its position in Palo Alto Networks by 61.8% during the first quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock valued at $35,000 after purchasing an additional 21 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Palo Alto Networks by 0.8% during the first quarter. Geneos Wealth Management Inc. now owns 2,961 shares of the network technology company’s stock valued at $1,843,000 after purchasing an additional 23 shares during the last quarter. Brighton Jones LLC lifted its position in Palo Alto Networks by 6.5% during the first quarter. Brighton Jones LLC now owns 425 shares of the network technology company’s stock valued at $265,000 after purchasing an additional 26 shares during the last quarter. Penserra Capital Management LLC lifted its position in Palo Alto Networks by 6.4% during the first quarter. Penserra Capital Management LLC now owns 452 shares of the network technology company’s stock valued at $281,000 after purchasing an additional 27 shares during the last quarter. Finally, Parisi Gray Wealth Management lifted its position in Palo Alto Networks by 2.2% during the fourth quarter. Parisi Gray Wealth Management now owns 1,519 shares of the network technology company’s stock valued at $448,000 after purchasing an additional 33 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PANW. BMO Capital Markets lowered their price objective on shares of Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating for the company in a research report on Wednesday, February 21st. Northland Securities downgraded shares of Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 target price on the stock. in a research note on Wednesday, February 21st. Redburn Atlantic increased their target price on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Needham & Company LLC reissued a “buy” rating and issued a $345.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 21st. Finally, KeyCorp reduced their target price on shares of Palo Alto Networks from $390.00 to $380.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. Eleven analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. Based on data from MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus target price of $314.82.

Palo Alto Networks Trading Up 0.7 %

NASDAQ PANW traded up $1.87 on Thursday, hitting $284.13. 3,399,301 shares of the company’s stock traded hands, compared to its average volume of 6,021,142. Palo Alto Networks, Inc. has a 1-year low of $176.30 and a 1-year high of $380.84. The firm’s 50-day moving average price is $319.37 and its two-hundred day moving average price is $286.07. The firm has a market capitalization of $91.80 billion, a PE ratio of 44.40, a P/E/G ratio of 3.91 and a beta of 1.21.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. On average, research analysts anticipate that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Lee Klarich sold 45,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the completion of the transaction, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at approximately $67,955,958.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $343.03, for a total value of $15,436,350.00. Following the completion of the sale, the executive vice president now owns 198,105 shares of the company’s stock, valued at approximately $67,955,958.15. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the sale, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The disclosure for this sale can be found here. Insiders sold a total of 143,153 shares of company stock valued at $44,107,332 in the last three months. 3.30% of the stock is currently owned by corporate insiders.

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.