29,500 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Acquired by UNICOM Systems Inc.

UNICOM Systems Inc. bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 29,500 shares of the network technology company’s stock, valued at approximately $5,034,000. Palo Alto Networks makes up about 1.0% of UNICOM Systems Inc.’s portfolio, making the stock its 17th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Transce3nd LLC purchased a new stake in Palo Alto Networks during the 4th quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL grew its holdings in shares of Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 55 shares in the last quarter. Kiely Wealth Advisory Group Inc. grew its holdings in shares of Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 75 shares in the last quarter. Anchor Investment Management LLC grew its holdings in shares of Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 78 shares in the last quarter. Finally, Capital A Wealth Management LLC purchased a new position in shares of Palo Alto Networks in the fourth quarter valued at $29,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Palo Alto Networks news, CAO Josh D. Paul sold 800 shares of Palo Alto Networks stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $201.05, for a total value of $160,840.00. Following the transaction, the chief accounting officer owned 42,033 shares in the company, valued at $8,450,734.65. The trade was a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Aparna Bawa sold 526 shares of Palo Alto Networks stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $190.00, for a total value of $99,940.00. Following the completion of the transaction, the director owned 8,632 shares in the company, valued at $1,640,080. This trade represents a 5.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 569,248 shares of company stock valued at $111,279,829 over the last three months. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Price Performance

PANW stock opened at $187.39 on Monday. The business has a 50-day moving average price of $195.04 and a 200 day moving average price of $185.73. The company has a market capitalization of $124.95 billion, a P/E ratio of 107.08, a PEG ratio of 5.23 and a beta of 0.97. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. On average, analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Truist Financial cut their target price on shares of Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating for the company in a report on Monday, March 31st. Morgan Stanley cut their target price on shares of Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $223.00 target price on shares of Palo Alto Networks in a report on Monday, May 19th. Hsbc Global Res raised shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 10th. Finally, Guggenheim reissued a “sell” rating and issued a $130.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

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.