Signaturefd LLC Raises Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Signaturefd LLC increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 15.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,367 shares of the network technology company’s stock after purchasing an additional 844 shares during the period. Signaturefd LLC’s holdings in Palo Alto Networks were worth $1,809,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Horizon Family Wealth Inc. increased its position in Palo Alto Networks by 1.1% in the fourth quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock worth $726,000 after buying an additional 28 shares in the last quarter. MV Capital Management Inc. increased its position in Palo Alto Networks by 37.2% in the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after buying an additional 29 shares in the last quarter. Manchester Capital Management LLC increased its position in Palo Alto Networks by 17.2% in the fourth quarter. Manchester Capital Management LLC now owns 204 shares of the network technology company’s stock worth $60,000 after buying an additional 30 shares in the last quarter. Quent Capital LLC increased its position in Palo Alto Networks by 15.9% in the fourth quarter. Quent Capital LLC now owns 233 shares of the network technology company’s stock worth $69,000 after buying an additional 32 shares in the last quarter. Finally, Parisi Gray Wealth Management increased its position in Palo Alto Networks by 2.2% in the fourth quarter. Parisi Gray Wealth Management now owns 1,519 shares of the network technology company’s stock worth $448,000 after buying an additional 33 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, March 13th. Daiwa America raised Palo Alto Networks to a “strong-buy” rating in a research note on Wednesday, May 29th. Macquarie raised their price target on Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Redburn Atlantic raised their price target on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Finally, Susquehanna raised their price target on Palo Alto Networks from $325.00 to $340.00 and gave the stock a “positive” rating in a research note on Tuesday, May 21st. Twelve 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 stock. According to MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $326.29.

Insider Activity 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 on Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total transaction of $497,517.32. Following the completion of the sale, the president now owns 20,501 shares of the company’s stock, valued at $6,292,166.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,621 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total transaction of $497,517.32. Following the completion of the sale, the president now owns 20,501 shares of the company’s stock, valued at $6,292,166.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total value of $10,376,640.00. Following the transaction, the executive vice president now owns 1,295,567 shares of the company’s stock, valued at $373,434,232.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 428,391 shares of company stock valued at $136,147,317. 3.30% of the stock is currently owned by insiders.

Palo Alto Networks Stock Down 1.9 %

Shares of Palo Alto Networks stock traded down $6.39 during mid-day trading on Thursday, reaching $330.67. 1,168,473 shares of the stock traded hands, compared to its average volume of 4,669,237. The business has a 50-day moving average of $314.98 and a 200 day moving average of $309.12. Palo Alto Networks, Inc. has a fifty-two week low of $201.17 and a fifty-two week high of $380.84. The stock has a market capitalization of $107.07 billion, a PE ratio of 48.65, a PEG ratio of 5.17 and a beta of 1.14.

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

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.