Hill Island Financial LLC Buys New Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Hill Island Financial LLC purchased a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 600 shares of the network technology company’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Aveo Capital Partners LLC acquired a new stake in Palo Alto Networks in the 4th quarter valued at $212,000. Gryphon Financial Partners LLC bought a new stake in shares of Palo Alto Networks during the fourth quarter worth about $336,000. Dynamic Technology Lab Private Ltd bought a new position in Palo Alto Networks in the 4th quarter valued at about $840,000. PNC Financial Services Group Inc. boosted its stake in Palo Alto Networks by 10.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 65,572 shares of the network technology company’s stock valued at $19,336,000 after purchasing an additional 6,217 shares during the last quarter. Finally, Paragon Private Wealth Management LLC bought a new stake in Palo Alto Networks during the 4th quarter worth approximately $208,000. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 0.2 %

PANW stock opened at $346.11 on Tuesday. The stock has a market capitalization of $112.69 billion, a price-to-earnings ratio of 50.31, a PEG ratio of 5.03 and a beta of 1.13. The firm’s 50-day moving average price is $336.38 and its two-hundred day moving average price is $312.38. Palo Alto Networks, Inc. has a 12-month low of $224.64 and a 12-month high of $380.84.

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 for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the company earned $0.80 EPS. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities analysts predict that Palo Alto Networks, Inc. will post 3.55 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 target price on shares of Palo Alto Networks in a research report on Tuesday, August 20th. BMO Capital Markets raised their price objective on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Robert W. Baird upped their target price on shares of Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. TD Cowen increased their target price on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $366.08.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the sale, the chief accounting officer now directly 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 is accessible through this hyperlink. In other Palo Alto Networks news, EVP Lee Klarich sold 125,866 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $335.00, for a total value of $42,165,110.00. Following the sale, the executive vice president now owns 166,542 shares in the company, valued at $55,791,570. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $338.00, for a total transaction of $67,600.00. Following the transaction, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at $8,443,916. The disclosure for this sale can be found here. Insiders have sold 464,075 shares of company stock worth $154,029,567 over the last 90 days. 3.30% of the stock is owned by company insiders.

About Palo Alto Networks

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.