KRS Capital Management LLC Has $2.42 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

KRS Capital Management LLC grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,520 shares of the network technology company’s stock after buying an additional 355 shares during the quarter. Palo Alto Networks accounts for approximately 2.0% of KRS Capital Management LLC’s portfolio, making the stock its 7th largest holding. KRS Capital Management LLC’s holdings in Palo Alto Networks were worth $2,421,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PANW. Frank Rimerman Advisors LLC purchased a new position in Palo Alto Networks during the 4th quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. lifted its position in Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after buying an additional 96 shares during the period. Webster Bank N. A. lifted its position in Palo Alto Networks by 607.1% during the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after buying an additional 85 shares during the period. Cedar Mountain Advisors LLC lifted its position in Palo Alto Networks by 87.0% during the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after buying an additional 47 shares during the period. Finally, Central Bank & Trust Co. lifted its position in Palo Alto Networks by 89.3% during the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after buying an additional 50 shares during the period. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $339.01 on Friday. The stock has a 50-day simple moving average of $307.06 and a two-hundred day simple moving average of $307.14. The firm has a market capitalization of $109.77 billion, a P/E ratio of 49.27, a PEG ratio of 5.22 and a beta of 1.10. Palo Alto Networks, Inc. has a fifty-two week low of $201.17 and a fifty-two week high of $380.84.

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

Insider Activity

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on PANW shares. Susquehanna lifted their price target on Palo Alto Networks from $325.00 to $340.00 and gave the stock a “positive” rating in a research report on Tuesday, May 21st. DA Davidson started coverage on Palo Alto Networks in a research note on Friday, June 21st. They set a “buy” rating and a $380.00 price target for the company. Oppenheimer reaffirmed an “outperform” rating and set a $330.00 price target on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Evercore ISI reduced 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 report on Tuesday, May 14th. Finally, Macquarie upped 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 report on Tuesday, May 21st. Twelve research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $326.29.

Palo Alto Networks 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.