Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Legacy Bridge LLC

Legacy Bridge LLC lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,904 shares of the network technology company’s stock after buying an additional 270 shares during the quarter. Legacy Bridge LLC’s holdings in Palo Alto Networks were worth $1,509,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. RB Capital Management LLC grew its holdings in Palo Alto Networks by 19.9% during the 1st quarter. RB Capital Management LLC now owns 602 shares of the network technology company’s stock valued at $375,000 after buying an additional 100 shares during the last quarter. Morgens Waterfall Vintiadis & Co. Inc. purchased a new stake in Palo Alto Networks in the 1st quarter valued at about $6,910,000. United Bank grew its holdings in Palo Alto Networks by 11.7% in the first quarter. United Bank now owns 2,822 shares of the network technology company’s stock valued at $1,757,000 after purchasing an additional 296 shares during the period. Yousif Capital Management LLC increased its holdings in shares of Palo Alto Networks by 13.6% during the 1st quarter. Yousif Capital Management LLC now owns 1,547 shares of the network technology company’s stock worth $963,000 after buying an additional 185 shares during the last quarter. Finally, Prudential PLC acquired a new position in Palo Alto Networks in the first quarter valued at $1,022,000. 85.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 2,040 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $245.01, for a total value of $499,820.40. Following the completion of the sale, the president now directly owns 37,352 shares of the company’s stock, valued at $9,151,613.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 2,040 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $245.01, for a total transaction of $499,820.40. Following the transaction, the president now directly owns 37,352 shares in the company, valued at $9,151,613.52. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Josh D. Paul sold 250 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $255.10, for a total value of $63,775.00. Following the completion of the sale, the chief accounting officer now directly owns 28,302 shares of the company’s stock, valued at approximately $7,219,840.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 168,140 shares of company stock worth $40,276,328. Insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on PANW. JMP Securities restated a “market outperform” rating and issued a $300.00 price target on shares of Palo Alto Networks in a report on Monday, August 21st. Deutsche Bank Aktiengesellschaft boosted their price target on Palo Alto Networks from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, August 21st. Wedbush restated an “outperform” rating and issued a $290.00 price target on shares of Palo Alto Networks in a research note on Thursday, August 17th. UBS Group raised their price objective on shares of Palo Alto Networks from $220.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, August 21st. Finally, Loop Capital upped their price objective on Palo Alto Networks from $240.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, August 21st. Four investment analysts have rated the stock with a hold rating and thirty-nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $264.71.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $240.15 on Monday. Palo Alto Networks, Inc. has a twelve month low of $132.22 and a twelve month high of $258.88. The firm has a market cap of $74.11 billion, a PE ratio of 190.63, a P/E/G ratio of 3.52 and a beta of 1.19. The firm’s 50 day moving average price is $236.34 and its two-hundred day moving average price is $217.65.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Friday, August 18th. The network technology company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.15. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.96 billion. Palo Alto Networks had a net margin of 6.38% and a return on equity of 51.13%. Palo Alto Networks’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 earnings per share. Equities analysts anticipate that Palo Alto Networks, Inc. will post 2.51 EPS 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.