Larson Financial Group LLC Has $510,000 Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Larson Financial Group LLC grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 8.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,991 shares of the network technology company’s stock after purchasing an additional 239 shares during the quarter. Larson Financial Group LLC’s holdings in Palo Alto Networks were worth $510,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in Palo Alto Networks by 147.7% during the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock worth $1,230,000 after buying an additional 4,031 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in Palo Alto Networks by 115.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 43,985 shares of the network technology company’s stock worth $8,004,000 after buying an additional 23,586 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Palo Alto Networks by 215.8% in the 4th quarter. Proficio Capital Partners LLC now owns 2,416 shares of the network technology company’s stock valued at $440,000 after acquiring an additional 1,651 shares during the last quarter. Harbour Investments Inc. raised its stake in shares of Palo Alto Networks by 132.1% during the fourth quarter. Harbour Investments Inc. now owns 4,616 shares of the network technology company’s stock valued at $840,000 after acquiring an additional 2,627 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in Palo Alto Networks by 370.5% during the fourth quarter. Axxcess Wealth Management LLC now owns 12,370 shares of the network technology company’s stock valued at $2,251,000 after buying an additional 9,741 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PANW has been the topic of several research reports. Sanford C. Bernstein set a $225.00 price objective on shares of Palo Alto Networks and gave the stock an “outperform” rating in a research report on Wednesday, May 21st. Barclays dropped their price objective on shares of Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 21st. JPMorgan Chase & Co. dropped their price target on shares of Palo Alto Networks from $225.00 to $221.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 21st. KeyCorp restated an “overweight” rating and set a $220.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. Finally, Morgan Stanley dropped their target price on shares of Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Two 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 company. According to MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average target price of $208.00.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $201.85, for a total value of $1,009,250.00. Following the completion of the transaction, the executive vice president owned 101,135 shares of the company’s stock, valued at $20,414,099.75. This trade represents a 4.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Josh D. Paul sold 800 shares of Palo Alto Networks stock in a transaction on Friday, June 20th. The stock was sold at an average price of $201.05, for a total transaction of $160,840.00. Following the sale, the chief accounting officer owned 42,033 shares in the company, valued at $8,450,734.65. This represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 569,248 shares of company stock valued at $111,279,829. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock opened at $196.28 on Friday. The stock has a 50 day moving average price of $195.41 and a two-hundred day moving average price of $185.94. The stock has a market capitalization of $130.88 billion, a PE ratio of 112.16, a price-to-earnings-growth ratio of 5.38 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.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The company’s revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business posted $0.66 EPS. Research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

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.