Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Burns J W & Co. Inc. NY

Burns J W & Co. Inc. NY lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 95.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,044 shares of the network technology company’s stock after purchasing an additional 999 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Palo Alto Networks were worth $522,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Covestor Ltd boosted its stake in shares of Palo Alto Networks by 61.8% in the first quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock worth $35,000 after buying an additional 21 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Palo Alto Networks by 0.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,961 shares of the network technology company’s stock worth $1,843,000 after purchasing an additional 23 shares in the last quarter. Brighton Jones LLC grew its stake in shares of Palo Alto Networks by 6.5% during the 1st quarter. Brighton Jones LLC now owns 425 shares of the network technology company’s stock worth $265,000 after purchasing an additional 26 shares during the period. Penserra Capital Management LLC increased its holdings in shares of Palo Alto Networks by 6.4% during the 1st quarter. Penserra Capital Management LLC now owns 452 shares of the network technology company’s stock valued at $281,000 after purchasing an additional 27 shares in the last quarter. Finally, Capital Investment Advisors LLC lifted its stake in shares of Palo Alto Networks by 2.9% in the 2nd quarter. Capital Investment Advisors LLC now owns 1,438 shares of the network technology company’s stock valued at $367,000 after purchasing an additional 41 shares during the period. Institutional investors and hedge funds own 85.69% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of PANW opened at $239.89 on Tuesday. The company’s 50-day simple moving average is $236.34 and its 200-day simple moving average is $217.65. Palo Alto Networks, Inc. has a 1 year low of $132.22 and a 1 year high of $258.88. The stock has a market capitalization of $74.03 billion, a PE ratio of 190.39, a P/E/G ratio of 3.44 and a beta of 1.19.

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

Insider Buying and Selling

In related news, CAO Josh D. Paul sold 250 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $255.10, for a total transaction of $63,775.00. Following the sale, the chief accounting officer now directly owns 28,302 shares in the company, valued at $7,219,840.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $215.17, for a total value of $9,682,650.00. Following the sale, the executive vice president now directly owns 177,213 shares in the company, valued at $38,130,921.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Josh D. Paul sold 250 shares of the firm’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 sale, the chief accounting officer now directly owns 28,302 shares in the company, valued at approximately $7,219,840.20. The disclosure for this sale can be found here. Insiders sold 168,140 shares of company stock valued at $40,276,328 in the last three months. 3.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. TD Cowen lifted their price objective on shares of Palo Alto Networks from $260.00 to $295.00 and gave the company an “outperform” rating in a report on Monday, August 21st. Stifel Nicolaus upped their price target on Palo Alto Networks from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, August 21st. JMP Securities reissued a “market outperform” rating and issued a $300.00 price objective on shares of Palo Alto Networks in a report on Monday, August 21st. UBS Group upped their target price on Palo Alto Networks from $220.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, August 21st. Finally, Wedbush restated an “outperform” rating and set a $290.00 price objective on shares of Palo Alto Networks in a research report on Thursday, August 17th. Four analysts have rated the stock with a hold rating and thirty-nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $266.26.

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.