Lynx Investment Advisory Takes Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Lynx Investment Advisory bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 177 shares of the network technology company’s stock, valued at approximately $60,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new position in shares of Palo Alto Networks in the 1st quarter valued at about $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Palo Alto Networks during the 4th quarter worth approximately $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 valued at $28,000 after purchasing an additional 96 shares in the last quarter. Ulland Investment Advisors LLC acquired a new position in shares of Palo Alto Networks in the 1st quarter valued at $30,000. 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 buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In related news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $339.16, for a total value of $12,209,760.00. Following the completion of the transaction, the executive vice president now directly owns 1,223,567 shares of the company’s stock, valued at $414,984,983.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Monday, July 1st. The shares were sold at an average price of $339.16, for a total transaction of $12,209,760.00. Following the sale, the executive vice president now directly owns 1,223,567 shares in the company, valued at approximately $414,984,983.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lee Klarich sold 800 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $300.21, for a total value of $240,168.00. Following the transaction, the executive vice president now directly owns 166,542 shares in the company, valued at approximately $49,997,573.82. The disclosure for this sale can be found here. Insiders have sold 307,315 shares of company stock valued at $100,940,790 over the last quarter. 3.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PANW has been the subject of a number of recent analyst reports. Daiwa America raised shares of Palo Alto Networks to a “strong-buy” rating in a report on Wednesday, May 29th. Macquarie boosted their price objective on Palo Alto Networks from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Redburn Atlantic lowered Palo Alto Networks from a “buy” rating to a “neutral” rating and decreased their target price for the company from $350.00 to $325.00 in a research report on Thursday, July 18th. KeyCorp cut their target price on shares of Palo Alto Networks from $384.00 to $380.00 and set an “overweight” rating for the company in a research note on Wednesday, July 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $345.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 21st. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $325.59.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW traded up $6.90 during trading on Wednesday, hitting $308.83. The company’s stock had a trading volume of 1,661,978 shares, compared to its average volume of 4,416,166. 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 price of $321.07 and a two-hundred day moving average price of $311.41. The company has a market capitalization of $100.00 billion, a PE ratio of 45.25, a P/E/G ratio of 4.16 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share (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 analyst estimates of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. Palo Alto Networks’s revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business posted $0.38 earnings per share. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share 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.