Dover Advisors LLC Buys 385 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Dover Advisors LLC increased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 15,234 shares of the network technology company’s stock after purchasing an additional 385 shares during the quarter. Palo Alto Networks comprises 1.1% of Dover Advisors LLC’s investment portfolio, making the stock its 21st largest holding. Dover Advisors LLC’s holdings in Palo Alto Networks were worth $2,600,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL grew its position in Palo Alto Networks by 64.0% in the 4th 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 during the period. JDM Financial Group LLC grew its position in Palo Alto Networks by 22.4% in the 4th quarter. JDM Financial Group LLC now owns 322 shares of the network technology company’s stock valued at $59,000 after purchasing an additional 59 shares during the period. Snider Financial Group grew its position in Palo Alto Networks by 0.4% in the 1st quarter. Snider Financial Group now owns 17,729 shares of the network technology company’s stock valued at $3,025,000 after purchasing an additional 65 shares during the period. Rakuten Securities Inc. grew its position in Palo Alto Networks by 8.4% in the 4th quarter. Rakuten Securities Inc. now owns 906 shares of the network technology company’s stock valued at $165,000 after purchasing an additional 70 shares during the period. Finally, Quarry LP grew its position in Palo Alto Networks by 16.9% in the 4th quarter. Quarry LP now owns 511 shares of the network technology company’s stock valued at $93,000 after purchasing an additional 74 shares during the period. Institutional investors own 79.82% of the company’s stock.

Insider Activity

In other news, EVP Nir Zuk sold 100,000 shares of the business’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the transaction, the executive vice president now owns 3,543,516 shares of the company’s stock, valued at approximately $586,132,981.56. The trade was a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the transaction, the executive vice president now directly owns 321,774 shares of the company’s stock, valued at $48,629,704.62. The trade was a 27.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 789,736 shares of company stock worth $139,837,528 over the last ninety days. Company insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Down 0.7%

Shares of PANW opened at $196.27 on Friday. The business’s 50-day moving average price is $184.15 and its 200-day moving average price is $185.11. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The stock has a market cap of $130.87 billion, a PE ratio of 110.58, a P/E/G ratio of 5.64 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results 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. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the prior year, the business posted $0.66 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis. Analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PANW. Susquehanna lifted their price target on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a “positive” rating in a research report on Tuesday, February 18th. Barclays cut their price objective on shares of Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, May 21st. JPMorgan Chase & Co. cut their price objective on shares of Palo Alto Networks from $225.00 to $221.00 and set an “overweight” rating on the stock in a report on Wednesday, May 21st. HSBC raised shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price objective on the stock in a report on Thursday, April 10th. Finally, 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. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $208.00.

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.