Juno Financial Group LLC Purchases Shares of 14,839 Palo Alto Networks, Inc. $PANW

Juno Financial Group LLC purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,839 shares of the network technology company’s stock, valued at approximately $2,733,000. Palo Alto Networks accounts for about 1.1% of Juno Financial Group LLC’s holdings, making the stock its 24th biggest holding.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Palo Alto Networks by 2.0% in the third quarter. Vanguard Group Inc. now owns 65,269,963 shares of the network technology company’s stock valued at $13,290,270,000 after buying an additional 1,253,589 shares during the period. State Street Corp lifted its stake in Palo Alto Networks by 1.7% in the third quarter. State Street Corp now owns 29,736,916 shares of the network technology company’s stock valued at $6,055,031,000 after buying an additional 505,924 shares during the period. Northern Trust Corp lifted its stake in Palo Alto Networks by 0.5% in the third quarter. Northern Trust Corp now owns 7,528,248 shares of the network technology company’s stock valued at $1,532,902,000 after buying an additional 36,511 shares during the period. First Trust Advisors LP increased its holdings in shares of Palo Alto Networks by 11.5% during the third quarter. First Trust Advisors LP now owns 5,906,963 shares of the network technology company’s stock valued at $1,202,776,000 after acquiring an additional 611,375 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Palo Alto Networks by 0.4% during the third quarter. Franklin Resources Inc. now owns 4,037,320 shares of the network technology company’s stock valued at $822,079,000 after acquiring an additional 17,394 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PANW shares. Benchmark started coverage on Palo Alto Networks in a report on Wednesday, April 1st. They set a “buy” rating and a $200.00 price objective for the company. Sanford C. Bernstein set a $209.00 price objective on Palo Alto Networks and gave the company an “outperform” rating in a report on Wednesday, February 18th. Loop Capital decreased their price objective on Palo Alto Networks from $190.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, February 18th. JPMorgan Chase & Co. decreased their price objective on Palo Alto Networks from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Finally, Citizens Jmp restated a “market outperform” rating and set a $250.00 price objective on shares of Palo Alto Networks in a report on Wednesday, February 18th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $210.07.

Palo Alto Networks Trading Up 3.6%

Shares of Palo Alto Networks stock opened at $181.20 on Thursday. The stock has a fifty day simple moving average of $161.20 and a 200 day simple moving average of $182.60. Palo Alto Networks, Inc. has a 12-month low of $139.57 and a 12-month high of $223.61. The company has a market capitalization of $147.86 billion, a P/E ratio of 100.11, a price-to-earnings-growth ratio of 6.31 and a beta of 0.77.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.09. Palo Alto Networks had a return on equity of 17.60% and a net margin of 12.96%.The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the prior year, the company posted $0.81 earnings per share. Palo Alto Networks’s revenue was up 14.9% compared to the same quarter last year. On average, analysts predict that Palo Alto Networks, Inc. will post 2.14 EPS for the current year.

Insider Buying and Selling at Palo Alto Networks

In related news, CAO Josh D. Paul sold 1,100 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $161.40, for a total transaction of $177,540.00. Following the completion of the sale, the chief accounting officer owned 83,136 shares in the company, valued at approximately $13,418,150.40. This represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John P. Key sold 1,572 shares of the company’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $173.32, for a total value of $272,459.04. Following the sale, the director owned 20,000 shares of the company’s stock, valued at $3,466,400. This trade represents a 7.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,356 shares of company stock valued at $4,981,575 in the last three months. Insiders own 1.40% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next?generation firewalls as a core on?premises capability, alongside cloud?delivered security services and software for securing public and private clouds.