Prime Capital Investment Advisors LLC Increases Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Prime Capital Investment Advisors LLC boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 44.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 13,082 shares of the network technology company’s stock after purchasing an additional 4,052 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Palo Alto Networks were worth $4,435,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PANW. Pathway Financial Advisers LLC purchased a new stake in Palo Alto Networks during the 1st quarter valued at about $25,000. Frank Rimerman Advisors LLC purchased a new stake in Palo Alto Networks during the 4th quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. grew its position in Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 96 shares during the last quarter. Ulland Investment Advisors LLC purchased a new stake in shares of Palo Alto Networks during the 1st quarter valued at about $30,000. Finally, Central Bank & Trust Co. boosted its holdings in shares of Palo Alto Networks by 89.3% during the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 50 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Trading Up 0.5 %

Shares of PANW opened at $346.90 on Monday. The firm has a market capitalization of $112.95 billion, a P/E ratio of 50.42, a P/E/G ratio of 4.98 and a beta of 1.13. Palo Alto Networks, Inc. has a 12-month low of $224.64 and a 12-month high of $380.84. The firm has a fifty day moving average price of $336.21 and a 200-day moving average price of $312.13.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 earnings per share. Analysts predict that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current year.

Insider Activity

In other news, President William D. Jenkins, Jr. sold 1,475 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the sale, the president now directly owns 19,026 shares of the company’s stock, valued at $6,452,097.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $339.12, for a total transaction of $500,202.00. Following the transaction, the president now directly owns 19,026 shares in the company, valued at approximately $6,452,097.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $339.16, for a total transaction of $12,209,760.00. Following the transaction, the executive vice president now owns 1,223,567 shares in the company, valued at $414,984,983.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 464,075 shares of company stock valued at $154,029,567. 3.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Scotiabank raised their price target on shares of Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. raised their price target on shares of Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Northland Securities raised their price target on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a report on Tuesday, August 20th. Stifel Nicolaus raised their price target on shares of Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada raised their price target on shares of Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $366.08.

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.