BluePointe Capital Management LLC Buys 5,048 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

BluePointe Capital Management LLC grew its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 73.8% during the 1st quarter, HoldingsChannel reports. The firm owned 11,890 shares of the network technology company’s stock after acquiring an additional 5,048 shares during the quarter. BluePointe Capital Management LLC’s holdings in Palo Alto Networks were worth $2,029,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Transce3nd LLC bought a new stake in Palo Alto Networks during the 4th quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL grew its position in Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Anchor Investment Management LLC grew its position in Palo Alto Networks by 100.0% during the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock worth $28,000 after acquiring an additional 78 shares during the last quarter. Kiely Wealth Advisory Group Inc. grew its position in Palo Alto Networks by 100.0% during the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock worth $29,000 after acquiring an additional 75 shares during the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in Palo Alto Networks during the 4th quarter worth approximately $29,000. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Rosenblatt Securities restated a “buy” rating and set a $235.00 price target on shares of Palo Alto Networks in a research report on Tuesday, May 20th. KeyCorp reiterated an “overweight” rating and issued a $220.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. TD Securities reiterated a “buy” rating and issued a $230.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Morgan Stanley decreased their price objective on Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Jefferies Financial Group increased their price objective on Palo Alto Networks from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.00.

Palo Alto Networks Trading Up 1.8%

Shares of Palo Alto Networks stock opened at $190.72 on Tuesday. The company has a market capitalization of $127.17 billion, a PE ratio of 108.98, a PEG ratio of 5.23 and a beta of 0.97. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39. The stock’s fifty day simple moving average is $195.09 and its 200 day simple moving average is $185.76.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The company’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. Analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Activity

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total transaction of $19,866,000.00. Following the completion of the transaction, the executive vice president owned 3,243,516 shares in the company, valued at approximately $644,356,888.56. This represents a 2.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $201.85, for a total value of $1,009,250.00. Following the transaction, the executive vice president owned 101,135 shares of the company’s stock, valued at approximately $20,414,099.75. This trade represents a 4.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 569,248 shares of company stock worth $111,279,829. 2.50% of the stock is currently owned by insiders.

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.