Boston Family Office LLC Grows Position in Palo Alto Networks, Inc. $PANW

Boston Family Office LLC raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,509 shares of the network technology company’s stock after purchasing an additional 3,848 shares during the quarter. Palo Alto Networks accounts for approximately 1.5% of Boston Family Office LLC’s holdings, making the stock its 22nd biggest holding. Boston Family Office LLC’s holdings in Palo Alto Networks were worth $22,604,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PANW. Edgestream Partners L.P. purchased a new stake in shares of Palo Alto Networks in the second quarter worth approximately $3,070,000. Shelton Capital Management grew its position in Palo Alto Networks by 8.1% in the 2nd quarter. Shelton Capital Management now owns 135,660 shares of the network technology company’s stock valued at $27,761,000 after acquiring an additional 10,109 shares during the last quarter. Panagora Asset Management Inc. increased its stake in Palo Alto Networks by 4,524.0% in the second quarter. Panagora Asset Management Inc. now owns 547,944 shares of the network technology company’s stock worth $112,131,000 after purchasing an additional 536,094 shares during the period. VestGen Advisors LLC lifted its position in shares of Palo Alto Networks by 1.1% during the second quarter. VestGen Advisors LLC now owns 24,912 shares of the network technology company’s stock worth $5,098,000 after purchasing an additional 270 shares during the last quarter. Finally, Delta Accumulation LLC boosted its stake in shares of Palo Alto Networks by 11,000.0% during the second quarter. Delta Accumulation LLC now owns 7,770 shares of the network technology company’s stock valued at $1,590,000 after purchasing an additional 7,700 shares during the period. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 2.7%

Palo Alto Networks stock opened at $190.32 on Monday. The firm has a market cap of $132.65 billion, a P/E ratio of 120.45, a P/E/G ratio of 4.50 and a beta of 0.79. The business has a fifty day moving average of $207.00 and a two-hundred day moving average of $197.29. Palo Alto Networks, Inc. has a twelve month low of $144.15 and a twelve month high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.89 by $0.04. Palo Alto Networks had a return on equity of 17.05% and a net margin of 11.69%.The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period in the previous year, the company posted $1.56 EPS. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. Equities analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

PANW has been the topic of several recent analyst reports. Morgan Stanley raised their price target on shares of Palo Alto Networks from $216.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Guggenheim raised their target price on shares of Palo Alto Networks from $130.00 to $135.00 and gave the stock a “sell” rating in a research report on Tuesday, August 19th. DA Davidson lifted their price target on shares of Palo Alto Networks from $215.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, November 17th. HSBC cut Palo Alto Networks from a “hold” rating to a “reduce” rating and set a $157.00 price objective on the stock. in a research note on Thursday, November 20th. Finally, UBS Group reaffirmed a “neutral” rating and set a $220.00 target price (down from $230.00) on shares of Palo Alto Networks in a research report on Thursday, November 20th. Thirty research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $225.09.

Insider Activity

In other news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $217.94, for a total value of $26,321,485.56. Following the transaction, the executive vice president owned 356,409 shares of the company’s stock, valued at $77,675,777.46. The trade was a 25.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nikesh Arora sold 846,408 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $204.06, for a total transaction of $172,718,016.48. Following the sale, the chief executive officer directly owned 275,013 shares of the company’s stock, valued at $56,119,152.78. The trade was a 75.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,215,130 shares of company stock valued at $249,031,488 over the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

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.