Palo Alto Networks, Inc. (NASDAQ:PANW) is Arcadia Investment Management Corp MI’s 3rd Largest Position

Arcadia Investment Management Corp MI decreased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,412 shares of the network technology company’s stock after selling 919 shares during the quarter. Palo Alto Networks makes up approximately 4.4% of Arcadia Investment Management Corp MI’s holdings, making the stock its 3rd largest holding. Arcadia Investment Management Corp MI’s holdings in Palo Alto Networks were worth $25,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of PANW. Horizon Family Wealth Inc. boosted its position in Palo Alto Networks by 1.1% during the 4th quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock valued at $726,000 after purchasing an additional 28 shares during the period. Manchester Capital Management LLC lifted its holdings in shares of 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 valued at $60,000 after buying an additional 30 shares during the period. Cascade Investment Group Inc. boosted its position in shares of Palo Alto Networks by 2.9% during the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock valued at $376,000 after purchasing an additional 31 shares in the last quarter. Sepio Capital LP grew its stake in shares of Palo Alto Networks by 3.7% in the 4th quarter. Sepio Capital LP now owns 944 shares of the network technology company’s stock worth $278,000 after purchasing an additional 34 shares during the last quarter. Finally, Sheets Smith Wealth Management raised its holdings in shares of Palo Alto Networks by 2.4% in the 1st quarter. Sheets Smith Wealth Management now owns 1,479 shares of the network technology company’s stock worth $420,000 after purchasing an additional 34 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wedbush restated an “outperform” rating and issued a $375.00 target price on shares of Palo Alto Networks in a report on Friday, August 16th. Robert W. Baird upped their price objective on shares of Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Bank of America boosted their price target on shares of Palo Alto Networks from $370.00 to $400.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. boosted their target price on shares of Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Finally, The Goldman Sachs Group raised their target price on Palo Alto Networks from $330.00 to $376.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Thirteen 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $366.08.

Palo Alto Networks Price Performance

Palo Alto Networks stock traded down $0.65 during mid-day trading on Friday, hitting $343.09. 287,175 shares of the company’s stock traded hands, compared to its average volume of 4,316,646. The firm has a 50 day simple moving average of $335.88 and a two-hundred day simple moving average of $310.69. Palo Alto Networks, Inc. has a fifty-two week low of $224.64 and a fifty-two week high of $380.84. The stock has a market cap of $111.09 billion, a price-to-earnings ratio of 49.96, a P/E/G ratio of 5.29 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the business posted $0.80 earnings per share. On average, research analysts anticipate that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at $47,055,533.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $339.12, for a total value of $500,202.00. Following the sale, the president now owns 19,026 shares of the company’s stock, valued at approximately $6,452,097.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at $47,055,533.37. The disclosure for this sale can be found here. Insiders have sold a total of 339,572 shares of company stock worth $111,126,265 in the last quarter. Corporate insiders own 3.30% of the company’s stock.

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.