2,918 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Bought by LifePlan Financial LLC

LifePlan Financial LLC purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,918 shares of the network technology company’s stock, valued at approximately $860,000.

Several other institutional investors have also bought and sold shares of PANW. Worth Asset Management LLC bought a new position in Palo Alto Networks in the 1st quarter valued at $26,000. Covestor Ltd lifted its position in shares of Palo Alto Networks by 61.8% during the 1st quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock valued at $35,000 after buying an additional 21 shares during the last quarter. Salem Investment Counselors Inc. lifted its position in shares of Palo Alto Networks by 1,071.4% during the 2nd quarter. Salem Investment Counselors Inc. now owns 82 shares of the network technology company’s stock valued at $41,000 after buying an additional 75 shares during the last quarter. Webster Bank N. A. lifted its position in shares of Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after buying an additional 85 shares during the last quarter. Finally, Cedar Mountain Advisors LLC lifted its position in shares of Palo Alto Networks by 87.0% during the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after buying an additional 47 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PANW. Stifel Nicolaus reaffirmed a “buy” rating and set a $330.00 price target on shares of Palo Alto Networks in a research report on Wednesday, March 13th. KeyCorp dropped their price objective on Palo Alto Networks from $390.00 to $380.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Cantor Fitzgerald dropped their price objective on Palo Alto Networks from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Royal Bank of Canada increased their price objective on Palo Alto Networks to $420.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Finally, The Goldman Sachs Group increased their price objective on Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average price target of $314.82.

Get Our Latest Report on PANW

Insider Activity

In other news, EVP Lee Klarich sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the completion of the transaction, the executive vice president now owns 198,105 shares in the company, valued at approximately $67,955,958.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of Palo Alto Networks stock in a transaction on Monday, January 29th. The stock was sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the completion of the transaction, the executive vice president now owns 198,105 shares in the company, valued at $67,955,958.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The disclosure for this sale can be found here. Insiders sold a total of 176,017 shares of company stock worth $52,068,877 in the last quarter. 3.30% of the stock is owned by company insiders.

Palo Alto Networks Stock Performance

Shares of PANW traded down $6.92 on Monday, reaching $272.15. The stock had a trading volume of 3,049,212 shares, compared to its average volume of 5,681,604. The firm has a market capitalization of $87.93 billion, a price-to-earnings ratio of 42.52, a price-to-earnings-growth ratio of 3.80 and a beta of 1.19. The company has a 50-day simple moving average of $303.68 and a 200-day simple moving average of $289.73. 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 released its earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. On average, analysts expect that Palo Alto Networks, Inc. will post 2.76 EPS for the current fiscal year.

Palo Alto Networks Company 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.

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

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