Intrua Financial LLC lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 14.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,630 shares of the network technology company’s stock after buying an additional 202 shares during the quarter. Intrua Financial LLC’s holdings in Palo Alto Networks were worth $278,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the business. Csenge Advisory Group raised its stake in shares of Palo Alto Networks by 2.4% during the 1st quarter. Csenge Advisory Group now owns 2,271 shares of the network technology company’s stock worth $381,000 after buying an additional 53 shares during the period. GSG Advisors LLC raised its stake in shares of Palo Alto Networks by 0.4% during the 1st quarter. GSG Advisors LLC now owns 12,450 shares of the network technology company’s stock worth $2,154,000 after buying an additional 54 shares during the period. SYM FINANCIAL Corp raised its stake in shares of Palo Alto Networks by 1.4% during the 1st quarter. SYM FINANCIAL Corp now owns 4,047 shares of the network technology company’s stock worth $691,000 after buying an additional 55 shares during the period. Crew Capital Management Ltd. raised its stake in shares of Palo Alto Networks by 2.5% during the 1st quarter. Crew Capital Management Ltd. now owns 2,310 shares of the network technology company’s stock worth $394,000 after buying an additional 57 shares during the period. Finally, TFB Advisors LLC raised its stake in shares of Palo Alto Networks by 1.9% during the 1st quarter. TFB Advisors LLC now owns 3,084 shares of the network technology company’s stock worth $526,000 after buying an additional 58 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.
Palo Alto Networks Stock Performance
NASDAQ PANW opened at $196.29 on Friday. The business has a fifty day moving average price of $188.03 and a 200 day moving average price of $185.94. Palo Alto Networks, Inc. has a one year low of $144.15 and a one year high of $210.39. The company has a market cap of $131.30 billion, a P/E ratio of 122.30, a P/E/G ratio of 4.73 and a beta of 0.98.
Wall Street Analyst Weigh In
PANW has been the subject of several research analyst reports. Northland Securities reduced their target price on Palo Alto Networks from $210.00 to $177.00 and set a “market perform” rating for the company in a research note on Wednesday, May 21st. Wells Fargo & Company upped their target price on Palo Alto Networks from $225.00 to $235.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 21st. Wedbush reissued an “outperform” rating and issued a $225.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, August 19th. KeyCorp downgraded Palo Alto Networks from an “overweight” rating to a “sector weight” rating in a research note on Thursday, July 31st. Finally, Scotiabank increased their price objective on Palo Alto Networks from $225.00 to $228.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 19th. Twenty-eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $211.68.
Get Our Latest Stock Analysis on Palo Alto Networks
Insider Buying and Selling
In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $184.20, for a total value of $128,940.00. Following the completion of the sale, the chief accounting officer directly owned 37,723 shares in the company, valued at $6,948,576.60. This represents a 1.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $172.80, for a total value of $17,280,000.00. Following the completion of the sale, the executive vice president owned 3,143,516 shares of the company’s stock, valued at approximately $543,199,564.80. The trade was a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 569,422 shares of company stock valued at $106,629,618 in the last quarter. Corporate insiders own 2.50% of the company’s stock.
Palo Alto Networks 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.
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