Dynamic Advisor Solutions LLC Raises Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Dynamic Advisor Solutions LLC increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 233.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,760 shares of the network technology company’s stock after buying an additional 7,535 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Palo Alto Networks were worth $3,057,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Frank Rimerman Advisors LLC acquired a new stake in Palo Alto Networks in the fourth quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. lifted its position in Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 96 shares during the period. Webster Bank N. A. lifted its position in Palo Alto Networks by 607.1% in the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 85 shares during the period. Cedar Mountain Advisors LLC lifted its position in Palo Alto Networks by 87.0% in the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 47 shares during the period. Finally, Central Bank & Trust Co. lifted its position in Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insiders Place Their Bets

In other news, Director Aparna Bawa sold 322 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total value of $99,820.00. Following the completion of the transaction, the director now directly owns 3,767 shares in the company, valued at $1,167,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.04, for a total value of $16,082,400.00. Following the completion of the transaction, the executive vice president now directly owns 174,075 shares in the company, valued at $46,659,063. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Aparna Bawa sold 322 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total transaction of $99,820.00. Following the completion of the transaction, the director now owns 3,767 shares of the company’s stock, valued at $1,167,770. The disclosure for this sale can be found here. In the last 90 days, insiders sold 258,182 shares of company stock worth $74,850,597. Insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PANW. Morgan Stanley reiterated an “overweight” rating and set a $360.00 price target on shares of Palo Alto Networks in a research report on Wednesday, June 12th. JPMorgan Chase & Co. lifted their price objective on Palo Alto Networks from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Argus lifted their price objective on Palo Alto Networks from $336.00 to $348.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Sanford C. Bernstein lifted their price objective on Palo Alto Networks from $335.00 to $364.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. Finally, Stifel Nicolaus restated a “buy” rating and set a $330.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, March 13th. Twelve research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $324.17.

Get Our Latest Report on Palo Alto Networks

Palo Alto Networks Stock Up 1.9 %

NASDAQ PANW traded up $5.91 on Tuesday, hitting $322.59. The stock had a trading volume of 1,721,241 shares, compared to its average volume of 4,859,917. Palo Alto Networks, Inc. has a one year low of $201.17 and a one year high of $380.84. The stock has a market cap of $104.45 billion, a price-to-earnings ratio of 46.84, a P/E/G ratio of 4.91 and a beta of 1.11. The company’s 50-day moving average is $302.73 and its two-hundred day moving average is $306.33.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last posted its earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. Palo Alto Networks’s quarterly revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

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.

Further Reading

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

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