GuoLine Advisory Pte Ltd Acquires 23,200 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

GuoLine Advisory Pte Ltd increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 19.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,800 shares of the network technology company’s stock after buying an additional 23,200 shares during the period. Palo Alto Networks comprises approximately 5.0% of GuoLine Advisory Pte Ltd’s portfolio, making the stock its 8th largest position. GuoLine Advisory Pte Ltd’s holdings in Palo Alto Networks were worth $40,858,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Frank Rimerman Advisors LLC bought a new position in Palo Alto Networks during the 4th quarter worth approximately $27,000. Webster Bank N. A. raised its holdings in Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after purchasing an additional 85 shares during the last quarter. Financial Synergies Wealth Advisors Inc. raised its holdings in Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after purchasing an additional 96 shares during the last quarter. Cedar Mountain Advisors LLC raised its holdings in Palo Alto Networks by 87.0% during the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after purchasing an additional 47 shares during the last quarter. Finally, ICA Group Wealth Management LLC bought a new position in Palo Alto Networks during the 4th quarter worth approximately $31,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

Shares of PANW traded down $2.07 during midday trading on Friday, hitting $338.75. 2,658,275 shares of the company traded hands, compared to its average volume of 4,833,380. The stock has a 50-day moving average of $304.64 and a 200-day moving average of $306.64. Palo Alto Networks, Inc. has a one year low of $201.17 and a one year high of $380.84. The firm has a market cap of $109.69 billion, a P/E ratio of 49.59, a PEG ratio of 4.98 and a beta of 1.10.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Citigroup raised their price target on shares of Palo Alto Networks from $335.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. KeyCorp lifted their price objective on shares of Palo Alto Networks from $355.00 to $384.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. Macquarie boosted their price target on shares of Palo Alto Networks from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Susquehanna boosted their price target on shares of Palo Alto Networks from $325.00 to $340.00 and gave the company a “positive” rating in a research note on Tuesday, May 21st. Finally, Evercore ISI decreased their price target on shares of Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating for the company in a research note on Tuesday, May 14th. Twelve equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus target price of $326.29.

Insider Activity

In other news, Director Aparna Bawa sold 322 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total transaction of $99,820.00. Following the sale, the director now directly owns 3,767 shares in the company, valued at $1,167,770. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Lee Klarich sold 800 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $300.21, for a total value of $240,168.00. Following the transaction, the executive vice president now directly owns 166,542 shares in the company, valued at $49,997,573.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Aparna Bawa sold 322 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was 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 in the company, valued at $1,167,770. The disclosure for this sale can be found here. Insiders have sold a total of 258,182 shares of company stock worth $74,850,597 over the last ninety days. Company insiders own 3.30% of the company’s stock.

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.