Parisi Gray Wealth Management Purchases 276 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Parisi Gray Wealth Management grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,360 shares of the network technology company’s stock after buying an additional 276 shares during the period. Parisi Gray Wealth Management’s holdings in Palo Alto Networks were worth $744,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PANW. Octavia Wealth Advisors LLC increased its position in Palo Alto Networks by 14.8% during the first quarter. Octavia Wealth Advisors LLC now owns 1,826 shares of the network technology company’s stock worth $312,000 after acquiring an additional 236 shares during the period. Tounjian Advisory Partners LLC acquired a new position in shares of Palo Alto Networks during the 1st quarter worth approximately $772,000. Pallas Capital Advisors LLC increased its holdings in shares of Palo Alto Networks by 27.6% during the first quarter. Pallas Capital Advisors LLC now owns 30,633 shares of the network technology company’s stock worth $5,227,000 after purchasing an additional 6,621 shares during the period. City Holding Co. raised its position in shares of Palo Alto Networks by 13.3% in the first quarter. City Holding Co. now owns 15,355 shares of the network technology company’s stock valued at $2,620,000 after buying an additional 1,805 shares in the last quarter. Finally, Daymark Wealth Partners LLC boosted its stake in shares of Palo Alto Networks by 6.3% in the first quarter. Daymark Wealth Partners LLC now owns 2,676 shares of the network technology company’s stock valued at $457,000 after buying an additional 158 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PANW. Guggenheim reiterated a “sell” rating and set a $130.00 target price on shares of Palo Alto Networks in a research 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 for the company in a research report on Wednesday, May 21st. Citigroup increased their price objective on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. HSBC upgraded shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 target price for the company in a research report on Thursday, April 10th. Finally, Susquehanna upped their price target on shares of Palo Alto Networks from $217.50 to $230.00 and gave the stock a “positive” rating in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $208.00.

Palo Alto Networks Trading Up 1.3%

PANW stock opened at $199.60 on Monday. The firm has a market cap of $133.09 billion, a PE ratio of 112.45, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97. The stock has a 50-day moving average price of $180.48 and a 200-day moving average price of $184.92. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The company’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. On average, analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Activity

In related news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the transaction, the executive vice president now owns 321,774 shares of the company’s stock, valued at $48,629,704.62. The trade was a 27.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Nikesh Arora sold 227,414 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total value of $39,281,220.22. Following the completion of the sale, the chief executive officer now directly owns 317,571 shares of the company’s stock, valued at $54,854,038.83. The trade was a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 789,736 shares of company stock worth $139,837,528 over the last quarter. 2.50% of the stock is currently owned by corporate insiders.

Palo Alto Networks Company 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.