Parsons Capital Management Inc. RI Boosts Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Parsons Capital Management Inc. RI lifted its stake in Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 3.0% in the 4th quarter, HoldingsChannel reports. The firm owned 2,166 shares of the network technology company’s stock after buying an additional 63 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Palo Alto Networks were worth $639,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Covestor Ltd lifted its position in shares of Palo Alto Networks by 61.8% in the 1st quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock worth $35,000 after purchasing an additional 21 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Palo Alto Networks by 0.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,961 shares of the network technology company’s stock worth $1,843,000 after purchasing an additional 23 shares during the period. Brighton Jones LLC lifted its position in shares of Palo Alto Networks by 6.5% in the 1st quarter. Brighton Jones LLC now owns 425 shares of the network technology company’s stock worth $265,000 after purchasing an additional 26 shares during the period. Penserra Capital Management LLC lifted its position in shares of Palo Alto Networks by 6.4% in the 1st quarter. Penserra Capital Management LLC now owns 452 shares of the network technology company’s stock worth $281,000 after purchasing an additional 27 shares during the period. Finally, Quent Capital LLC lifted its position in shares of Palo Alto Networks by 15.9% in the 4th quarter. Quent Capital LLC now owns 233 shares of the network technology company’s stock worth $69,000 after purchasing an additional 32 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, Director John Donovan sold 20,136 shares of Palo Alto Networks stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $288.57, for a total transaction of $5,810,645.52. Following the transaction, the director now owns 43,352 shares of the company’s stock, valued at $12,510,086.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John Donovan sold 20,136 shares of the business’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $288.57, for a total value of $5,810,645.52. Following the transaction, the director now owns 43,352 shares of the company’s stock, valued at $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 business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 27,247 shares in the company, valued at approximately $7,629,160. The disclosure for this sale can be found here. Insiders have sold 143,153 shares of company stock valued at $44,107,332 over the last 90 days. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Trading Down 2.2 %

Shares of NASDAQ PANW opened at $273.40 on Wednesday. The firm has a 50 day moving average of $315.94 and a 200 day moving average of $287.08. The firm has a market capitalization of $88.34 billion, a price-to-earnings ratio of 42.72, a price-to-earnings-growth ratio of 3.81 and a beta of 1.19. Palo Alto Networks, Inc. has a 12-month low of $176.30 and a 12-month high of $380.84.

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

Wall Street Analysts Forecast Growth

PANW has been the subject of a number of recent research reports. JMP Securities reissued a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a research report on Wednesday, February 21st. Stifel Nicolaus reissued a “buy” rating and set a $330.00 price target on shares of Palo Alto Networks in a research report on Wednesday, March 13th. The Goldman Sachs Group lifted their price target on shares of Palo Alto Networks from $274.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Rosenblatt Securities cut shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their price target for the company from $290.00 to $265.00 in a research report on Wednesday, February 21st. Finally, Citigroup lifted their price target on shares of Palo Alto Networks from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Eleven research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.82.

Read Our Latest Analysis on Palo Alto Networks

Palo Alto Networks Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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