MADDEN SECURITIES Corp Raises Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

MADDEN SECURITIES Corp boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,515 shares of the network technology company’s stock after acquiring an additional 690 shares during the quarter. Palo Alto Networks accounts for 1.9% of MADDEN SECURITIES Corp’s portfolio, making the stock its 15th biggest holding. MADDEN SECURITIES Corp’s holdings in Palo Alto Networks were worth $4,243,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PANW. Allworth Financial LP raised its stake in shares of Palo Alto Networks by 8.8% during the fourth quarter. Allworth Financial LP now owns 2,367 shares of the network technology company’s stock valued at $698,000 after acquiring an additional 191 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Palo Alto Networks by 8.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 58,453 shares of the network technology company’s stock worth $17,237,000 after buying an additional 4,581 shares during the period. Meeder Advisory Services Inc. lifted its holdings in shares of Palo Alto Networks by 6.9% in the 4th quarter. Meeder Advisory Services Inc. now owns 4,087 shares of the network technology company’s stock worth $1,205,000 after buying an additional 265 shares during the period. Valley National Advisers Inc. grew its position in shares of Palo Alto Networks by 114.3% during the 4th quarter. Valley National Advisers Inc. now owns 405 shares of the network technology company’s stock worth $119,000 after buying an additional 216 shares in the last quarter. Finally, Perennial Advisors LLC purchased a new position in shares of Palo Alto Networks during the fourth quarter valued at $203,000. Institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PANW. Sanford C. Bernstein increased their price objective on shares of Palo Alto Networks from $335.00 to $364.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Wedbush reissued an “outperform” rating and issued a $375.00 price target on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Royal Bank of Canada dropped their price objective on Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 21st. Daiwa Capital Markets assumed coverage on shares of Palo Alto Networks in a report on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 target price for the company. Finally, Oppenheimer restated an “outperform” rating and issued a $330.00 price target 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 issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $325.59.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, Director Aparna Bawa sold 322 shares of Palo Alto Networks stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total value of $99,820.00. Following the sale, the director now owns 3,767 shares in the company, valued at $1,167,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Aparna Bawa sold 322 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total transaction of $99,820.00. Following the completion of the transaction, the director now owns 3,767 shares of the company’s stock, valued at approximately $1,167,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the sale, the president now owns 20,501 shares of the company’s stock, valued at approximately $6,292,166.92. The disclosure for this sale can be found here. Insiders sold 367,315 shares of company stock worth $118,696,590 in the last 90 days. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Up 4.3 %

PANW traded up $13.16 on Thursday, hitting $317.37. 2,143,890 shares of the company’s stock were exchanged, compared to its average volume of 4,414,229. 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 cap of $102.76 billion, a price-to-earnings ratio of 46.13, a P/E/G ratio of 4.16 and a beta of 1.14. The firm has a 50-day moving average price of $321.50 and a 200-day moving average price of $311.40.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share 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 business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the firm posted $0.38 EPS. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, equities analysts predict that Palo Alto Networks, Inc. will post 2.94 EPS for the current year.

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.