Oxford Wealth Group LLC Acquires New Shares in Palo Alto Networks, Inc. (NASDAQ:PANW)

Oxford Wealth Group LLC acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,211 shares of the network technology company’s stock, valued at approximately $912,000.

Other large investors have also made changes to their positions in the company. Frank Rimerman Advisors LLC bought a new position in Palo Alto Networks during the 4th quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. increased 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 in the last quarter. Webster Bank N. A. increased 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 in the last quarter. Ulland Investment Advisors LLC bought a new position in Palo Alto Networks during the 1st quarter worth about $30,000. Finally, Central Bank & Trust Co. increased its holdings in Palo Alto Networks by 89.3% during the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In related news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $339.16, for a total value of $12,209,760.00. Following the transaction, the executive vice president now owns 1,223,567 shares in the company, valued at $414,984,983.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Lee Klarich sold 121,276 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $299.60, for a total transaction of $36,334,289.60. Following the transaction, the executive vice president now owns 166,542 shares in the company, valued at $49,895,983.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $339.16, for a total transaction of $12,209,760.00. Following the transaction, the executive vice president now owns 1,223,567 shares in the company, valued at approximately $414,984,983.72. The disclosure for this sale can be found here. Insiders have sold a total of 428,391 shares of company stock worth $136,147,317 over the last quarter. Company insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PANW shares. Oppenheimer reiterated an “outperform” rating and set a $330.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 21st. Robert W. Baird increased their price objective on shares of Palo Alto Networks from $340.00 to $360.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Daiwa Capital Markets started coverage on shares of Palo Alto Networks in a research note on Wednesday, May 29th. They set an “outperform” rating and a $350.00 price objective for the company. Morgan Stanley restated an “overweight” rating and set a $360.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, June 12th. Finally, Redburn Atlantic downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $350.00 to $325.00 in a research note on Thursday, July 18th. Thirteen investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $325.59.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW traded down $4.55 during mid-day trading on Tuesday, reaching $317.51. 2,703,781 shares of the company’s stock were exchanged, compared to its average volume of 4,472,761. The firm has a market capitalization of $102.81 billion, a price-to-earnings ratio of 46.15, a PEG ratio of 5.00 and a beta of 1.14. Palo Alto Networks, Inc. has a twelve month low of $201.17 and a twelve month high of $380.84. The business’s fifty day moving average price is $321.66 and its 200-day moving average price is $312.25.

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

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.