Bay Colony Advisory Group Inc d b a Bay Colony Advisors Invests $202,000 in Palo Alto Networks, Inc. (NASDAQ:PANW)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 684 shares of the network technology company’s stock, valued at approximately $202,000.

A number of other institutional investors have also modified their holdings of the stock. Covestor Ltd increased its position in shares of Palo Alto Networks by 61.8% during the first quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock worth $35,000 after acquiring an additional 21 shares during the period. Geneos Wealth Management Inc. increased its holdings in Palo Alto Networks by 0.8% during the first quarter. Geneos Wealth Management Inc. now owns 2,961 shares of the network technology company’s stock valued at $1,843,000 after buying an additional 23 shares during the period. Brighton Jones LLC increased its holdings in Palo Alto Networks by 6.5% during the first quarter. Brighton Jones LLC now owns 425 shares of the network technology company’s stock valued at $265,000 after buying an additional 26 shares during the period. Penserra Capital Management LLC increased its holdings in Palo Alto Networks by 6.4% during the first quarter. Penserra Capital Management LLC now owns 452 shares of the network technology company’s stock valued at $281,000 after buying an additional 27 shares during the period. Finally, MV Capital Management Inc. increased its holdings in Palo Alto Networks by 37.2% during the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after buying an additional 29 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PANW has been the topic of several research reports. Scotiabank cut their price objective on shares of Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating on the stock in a report on Wednesday, February 21st. Mizuho lowered their target price on shares of Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. The Goldman Sachs Group raised their target price on shares of Palo Alto Networks from $274.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Needham & Company LLC reiterated a “buy” rating and set a $345.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 21st. Finally, Rosenblatt Securities cut shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $290.00 to $265.00 in a report on Wednesday, February 21st. Eleven research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus target price of $314.82.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $275.02 on Wednesday. The company’s 50-day moving average is $300.91 and its two-hundred day moving average is $290.27. The firm has a market capitalization of $88.86 billion, a price-to-earnings ratio of 42.97, a PEG ratio of 3.71 and a beta of 1.19. Palo Alto Networks, Inc. has a 1-year low of $176.30 and a 1-year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released 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 business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current fiscal year.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the sale, the executive vice president now owns 198,105 shares in the company, valued at approximately $56,327,194.65. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the completion of the transaction, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at approximately $56,327,194.65. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President William D. Jenkins, Jr. sold 1,867 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $280.13, for a total value of $523,002.71. Following the transaction, the president now directly owns 25,812 shares of the company’s stock, valued at $7,230,715.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 167,917 shares of company stock valued at $49,395,553. 3.30% of the stock is currently owned by company insiders.

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.