Range Financial Group LLC Buys 169 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Range Financial Group LLC increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 2.7% in the first quarter, Holdings Channel reports. The institutional investor owned 6,445 shares of the network technology company’s stock after buying an additional 169 shares during the period. Palo Alto Networks comprises 1.0% of Range Financial Group LLC’s portfolio, making the stock its 27th biggest holding. Range Financial Group LLC’s holdings in Palo Alto Networks were worth $1,831,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of PANW. GSG Advisors LLC boosted its stake in shares of Palo Alto Networks by 1.0% during the 4th quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock worth $1,478,000 after acquiring an additional 51 shares during the period. Spirit of America Management Corp NY boosted its holdings in shares of Palo Alto Networks by 50.0% during the 4th quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock worth $88,000 after buying an additional 100 shares during the period. Beacon Pointe Advisors LLC grew its stake in Palo Alto Networks by 31.4% in the 4th quarter. Beacon Pointe Advisors LLC now owns 112,040 shares of the network technology company’s stock valued at $33,038,000 after buying an additional 26,767 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Palo Alto Networks by 9.9% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,726 shares of the network technology company’s stock valued at $7,291,000 after acquiring an additional 2,225 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group lifted its position in Palo Alto Networks by 46.4% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 4,178 shares of the network technology company’s stock worth $1,232,000 after acquiring an additional 1,325 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 1.1 %

Palo Alto Networks stock traded down $3.65 during mid-day trading on Monday, reaching $316.68. The company’s stock had a trading volume of 3,087,091 shares, compared to its average volume of 4,885,210. Palo Alto Networks, Inc. has a twelve month low of $201.17 and a twelve month high of $380.84. The business has a 50 day moving average price of $301.84 and a 200-day moving average price of $306.17. The firm has a market cap of $102.54 billion, a price-to-earnings ratio of 47.07, a PEG ratio of 4.77 and a beta of 1.10.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last released its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter last year, the firm earned $0.38 earnings per share. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities analysts expect that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PANW has been the topic of several analyst reports. KeyCorp increased their price target on shares of Palo Alto Networks from $355.00 to $384.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Oppenheimer restated an “outperform” rating and issued a $330.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Argus increased their price target on Palo Alto Networks from $336.00 to $348.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $330.00 target price on shares of Palo Alto Networks in a report on Wednesday, March 13th. Finally, Wedbush reissued an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Twelve research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.17.

Check Out Our Latest Stock Analysis on Palo Alto Networks

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the transaction, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the sale, the executive vice president now directly owns 174,075 shares in the company, valued at approximately $46,659,063. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total transaction of $10,376,640.00. Following the completion of the transaction, the executive vice president now owns 1,295,567 shares in the company, valued at approximately $373,434,232.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 258,182 shares of company stock worth $74,850,597. Insiders own 3.30% of the company’s stock.

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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