Congress Park Capital LLC Has $605,000 Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Congress Park Capital LLC boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 49.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,130 shares of the network technology company’s stock after acquiring an additional 700 shares during the quarter. Congress Park Capital LLC’s holdings in Palo Alto Networks were worth $605,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Frank Rimerman Advisors LLC bought a new stake in Palo Alto Networks during the 4th quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. lifted its stake in Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after buying an additional 96 shares in the last quarter. Webster Bank N. A. increased its holdings in Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after purchasing an additional 85 shares in the last quarter. Cedar Mountain Advisors LLC lifted its stake in Palo Alto Networks by 87.0% in the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 47 shares in the last quarter. Finally, Central Bank & Trust Co. boosted its holdings in Palo Alto Networks by 89.3% during the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock traded up $0.10 during trading on Friday, reaching $340.92. 2,374,912 shares of the stock traded hands, compared to its average volume of 4,831,095. The company has a market capitalization of $110.39 billion, a price-to-earnings ratio of 49.59, a P/E/G ratio of 4.98 and a beta of 1.10. The business has a fifty day simple moving average of $304.64 and a two-hundred day simple moving average of $306.64. Palo Alto Networks, Inc. has a 52-week low of $201.17 and a 52-week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, beating 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 net margin of 31.42% and a return on equity of 32.74%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 EPS. On average, research analysts predict that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 800 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $300.21, for a total value of $240,168.00. Following the sale, the executive vice president now directly owns 166,542 shares in the company, valued at approximately $49,997,573.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Palo Alto Networks news, EVP Lee Klarich sold 800 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $300.21, for a total transaction of $240,168.00. Following the completion of the sale, the executive vice president now directly owns 166,542 shares in the company, valued at approximately $49,997,573.82. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,621 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total transaction of $497,517.32. Following the sale, the president now owns 20,501 shares of the company’s stock, valued at $6,292,166.92. The disclosure for this sale can be found here. Insiders sold a total of 258,182 shares of company stock worth $74,850,597 over the last 90 days. Company insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PANW. Wedbush reiterated an “outperform” rating and issued a $375.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Argus raised their price objective on Palo Alto Networks from $336.00 to $348.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Robert W. Baird lifted their price objective 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. Stifel Nicolaus restated a “buy” rating and set a $330.00 target price on shares of Palo Alto Networks in a research note on Wednesday, March 13th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $330.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Twelve equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus target price of $326.29.

About Palo Alto Networks

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.