PKO Investment Management Joint Stock Co Purchases 16,000 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

PKO Investment Management Joint Stock Co boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 200.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,000 shares of the network technology company’s stock after purchasing an additional 16,000 shares during the period. PKO Investment Management Joint Stock Co’s holdings in Palo Alto Networks were worth $4,095,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Insigneo Advisory Services LLC increased its holdings in Palo Alto Networks by 2.6% during the first quarter. Insigneo Advisory Services LLC now owns 17,463 shares of the network technology company’s stock worth $2,980,000 after buying an additional 440 shares during the last quarter. NBT Bank N A NY raised its holdings in Palo Alto Networks by 34.4% in the 1st quarter. NBT Bank N A NY now owns 27,902 shares of the network technology company’s stock valued at $4,761,000 after acquiring an additional 7,147 shares during the period. Strategic Advisors LLC lifted its holdings in Palo Alto Networks by 11.0% during the 1st quarter. Strategic Advisors LLC now owns 5,917 shares of the network technology company’s stock worth $1,010,000 after purchasing an additional 585 shares during the last quarter. Chicago Capital LLC boosted its position in shares of Palo Alto Networks by 305.6% in the first quarter. Chicago Capital LLC now owns 6,535 shares of the network technology company’s stock valued at $1,115,000 after acquiring an additional 4,924 shares during the period. Finally, Schaper Benz & Wise Investment Counsel Inc. WI boosted its holdings in Palo Alto Networks by 4.2% in the 1st quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 3,198 shares of the network technology company’s stock valued at $546,000 after purchasing an additional 128 shares during the period. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 0.9%

NASDAQ PANW opened at $198.11 on Tuesday. The company has a market cap of $132.10 billion, a PE ratio of 111.61, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39. The firm’s 50-day simple moving average is $185.07 and its two-hundred day simple moving average is $185.04.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 earnings per share. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $195.14, for a total transaction of $23,567,838.36. Following the completion of the transaction, the executive vice president now owns 264,246 shares of the company’s stock, valued at $51,564,964.44. The trade was a 31.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Nikesh Arora sold 227,414 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 317,571 shares in the company, valued at approximately $54,854,038.83. This represents a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 789,736 shares of company stock valued at $139,837,528 in the last 90 days. 2.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PANW has been the topic of several analyst reports. Wells Fargo & Company increased their target price on Palo Alto Networks from $225.00 to $235.00 and gave the stock an “overweight” rating in a report on Wednesday, May 21st. Roth Capital began coverage on shares of Palo Alto Networks in a report on Thursday, May 15th. They set a “neutral” rating and a $210.00 price target on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $235.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 20th. Citigroup increased their price target on Palo Alto Networks from $205.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Finally, Jefferies Financial Group lifted their price objective on shares of Palo Alto Networks from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Two equities 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 company’s stock. According to MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus target price of $208.00.

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.