Kestra Advisory Services LLC Acquires 15,519 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Kestra Advisory Services LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 39.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,870 shares of the network technology company’s stock after buying an additional 15,519 shares during the quarter. Kestra Advisory Services LLC’s holdings in Palo Alto Networks were worth $15,590,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Frank Rimerman Advisors LLC bought a new position in Palo Alto Networks in the 4th quarter worth $27,000. Financial Synergies Wealth Advisors Inc. raised its stake in 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 acquiring an additional 96 shares during the period. Webster Bank N. A. lifted its holdings in 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 purchasing an additional 85 shares in the last quarter. Ulland Investment Advisors LLC bought a new position in shares of Palo Alto Networks in the first quarter worth approximately $30,000. Finally, Central Bank & Trust Co. increased its stake in shares of Palo Alto Networks by 89.3% in 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 in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW traded up $6.68 during trading on Friday, reaching $326.81. 1,709,425 shares of the company were exchanged, compared to its average volume of 2,294,796. The business’s fifty day simple moving average is $321.57 and its 200-day simple moving average is $312.34. Palo Alto Networks, Inc. has a 12-month low of $201.17 and a 12-month high of $380.84. The firm has a market capitalization of $105.82 billion, a PE ratio of 47.50, a P/E/G ratio of 5.00 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, topping 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 company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the business posted $0.38 EPS. Palo Alto Networks’s quarterly revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 125,866 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 166,542 shares of the company’s stock, valued at approximately $55,791,570. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 125,866 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $335.00, for a total transaction of $42,165,110.00. Following the completion of the sale, the executive vice president now owns 166,542 shares in the company, valued at $55,791,570. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction on Monday, July 1st. The shares were sold at an average price of $338.00, for a total value of $67,600.00. Following the completion of the transaction, the chief accounting officer now owns 24,982 shares in the company, valued at $8,443,916. The disclosure for this sale can be found here. Insiders sold 428,391 shares of company stock worth $136,147,317 over the last three months. 3.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Argus upped their target price on shares of Palo Alto Networks from $336.00 to $348.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. JMP Securities reiterated a “market outperform” rating and set a $380.00 target price on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Redburn Atlantic cut Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $350.00 to $325.00 in a report on Thursday, July 18th. Daiwa America raised shares of Palo Alto Networks to a “strong-buy” rating in a report on Wednesday, May 29th. Finally, Susquehanna boosted their target price on shares of Palo Alto Networks from $325.00 to $340.00 and gave the stock a “positive” rating in a report on Tuesday, May 21st. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $325.59.

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.