Prosperity Consulting Group LLC Invests $246,000 in Palo Alto Networks, Inc. (NASDAQ:PANW)

Prosperity Consulting Group LLC acquired a new position in Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 867 shares of the network technology company’s stock, valued at approximately $246,000.

A number of other institutional investors have also recently bought and sold shares of PANW. Mission Wealth Management LP lifted its position in shares of Palo Alto Networks by 158.9% in the first quarter. Mission Wealth Management LP now owns 7,707 shares of the network technology company’s stock worth $2,190,000 after purchasing an additional 4,730 shares in the last quarter. Wambolt & Associates LLC increased its stake in Palo Alto Networks by 73.9% in the 1st quarter. Wambolt & Associates LLC now owns 10,106 shares of the network technology company’s stock valued at $2,824,000 after buying an additional 4,295 shares during the period. Diversify Advisory Services LLC purchased a new stake in Palo Alto Networks in the 1st quarter worth approximately $14,496,000. J.W. Cole Advisors Inc. boosted its stake in shares of Palo Alto Networks by 322.2% during the 1st quarter. J.W. Cole Advisors Inc. now owns 7,190 shares of the network technology company’s stock valued at $2,043,000 after buying an additional 5,487 shares during the period. Finally, Cutter & CO Brokerage Inc. acquired a new stake in shares of Palo Alto Networks during the 1st quarter valued at $497,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Palo Alto Networks

In other news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $338.00, for a total value of $67,600.00. Following the sale, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, President William D. Jenkins, Jr. sold 1,621 shares of Palo Alto Networks stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total value of $497,517.32. Following the completion of the transaction, the president now directly owns 20,501 shares of the company’s stock, valued at $6,292,166.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $338.00, for a total transaction of $67,600.00. Following the completion of the sale, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The disclosure for this sale can be found here. Over the last three months, insiders sold 302,525 shares of company stock valued at $93,982,207. 3.30% of the stock is currently owned by company insiders.

Palo Alto Networks Stock Up 0.3 %

NASDAQ PANW opened at $342.09 on Friday. Palo Alto Networks, Inc. has a twelve month low of $201.17 and a twelve month high of $380.84. The stock has a market cap of $110.77 billion, a P/E ratio of 49.72, a PEG ratio of 5.24 and a beta of 1.14. The company’s 50-day simple moving average is $312.19 and its 200 day simple moving average is $308.33.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last released its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.98 billion for 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%. The company’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 EPS. Research analysts anticipate that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on PANW shares. Wedbush reiterated an “outperform” rating and set a $375.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 21st. Sanford C. Bernstein lifted their price target on Palo Alto Networks from $335.00 to $364.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. JPMorgan Chase & Co. increased their price objective on Palo Alto Networks from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $350.00 price objective on shares of Palo Alto Networks in a research report on Friday, June 21st. Finally, BMO Capital Markets boosted their target price on shares of Palo Alto Networks from $327.00 to $334.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. Twelve equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.29.

Read Our Latest Report on Palo Alto Networks

Palo Alto Networks Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.