IFG Advisory LLC Has $1.64 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

IFG Advisory LLC boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,558 shares of the network technology company’s stock after purchasing an additional 327 shares during the quarter. IFG Advisory LLC’s holdings in Palo Alto Networks were worth $1,639,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. RB Capital Management LLC increased its stake in Palo Alto Networks by 19.9% during the 1st quarter. RB Capital Management LLC now owns 602 shares of the network technology company’s stock valued at $375,000 after purchasing an additional 100 shares in the last quarter. Morgens Waterfall Vintiadis & Co. Inc. bought a new stake in Palo Alto Networks during the 1st quarter worth approximately $6,910,000. United Bank raised its stake in shares of Palo Alto Networks by 11.7% in the first quarter. United Bank now owns 2,822 shares of the network technology company’s stock worth $1,757,000 after purchasing an additional 296 shares during the last quarter. Yousif Capital Management LLC boosted its position in shares of Palo Alto Networks by 13.6% during the first quarter. Yousif Capital Management LLC now owns 1,547 shares of the network technology company’s stock valued at $963,000 after buying an additional 185 shares during the last quarter. Finally, Prudential PLC bought a new stake in Palo Alto Networks during the first quarter worth $1,022,000. 79.82% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director John Donovan sold 20,136 shares of the company’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $288.57, for a total transaction of $5,810,645.52. Following the transaction, the director now directly owns 43,352 shares of the company’s stock, valued at $12,510,086.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director John Donovan sold 20,136 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $288.57, for a total transaction of $5,810,645.52. Following the transaction, the director now directly owns 43,352 shares of the company’s stock, valued at approximately $12,510,086.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The disclosure for this sale can be found here. Insiders sold 143,153 shares of company stock worth $44,107,332 over the last three months. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Trading Down 1.5 %

PANW opened at $282.26 on Thursday. The company has a market cap of $91.20 billion, a price-to-earnings ratio of 44.10, a price-to-earnings-growth ratio of 3.91 and a beta of 1.21. The stock has a fifty day simple moving average of $320.33 and a two-hundred day simple moving average of $286.10. Palo Alto Networks, Inc. has a 12-month low of $176.30 and a 12-month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. On average, analysts predict that Palo Alto Networks, Inc. will post 2.76 EPS for the current year.

Analysts Set New Price Targets

PANW has been the subject of several analyst reports. Cantor Fitzgerald lowered their target price on shares of Palo Alto Networks from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. JMP Securities restated a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 21st. Capital One Financial cut Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price objective on the stock. in a research report on Wednesday, February 21st. BMO Capital Markets decreased their price objective on shares of Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Finally, Loop Capital downgraded shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research report on Wednesday, February 21st. Eleven research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.82.

Palo Alto Networks Company 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.