KMG Fiduciary Partners LLC Acquires 2,039 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

KMG Fiduciary Partners LLC lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 34.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,983 shares of the network technology company’s stock after purchasing an additional 2,039 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Palo Alto Networks were worth $2,268,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PANW. Frank Rimerman Advisors LLC acquired a new position in Palo Alto Networks during the fourth quarter worth $27,000. Webster Bank N. A. increased its holdings in Palo Alto Networks by 607.1% during the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after buying an additional 85 shares during the last quarter. Cedar Mountain Advisors LLC increased its holdings in Palo Alto Networks by 87.0% during the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after buying an additional 47 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in Palo Alto Networks during the fourth quarter worth $31,000. Finally, MV Capital Management Inc. increased its holdings in shares of Palo Alto Networks by 37.2% in the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 29 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at $46,659,063. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 1,295,567 shares in the company, valued at $373,434,232.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total value of $16,082,400.00. Following the sale, the executive vice president now owns 174,075 shares in the company, valued at $46,659,063. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 258,182 shares of company stock valued at $74,850,597. 3.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PANW has been the topic of several research reports. Evercore ISI decreased their price objective on shares of Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating on the stock in a report on Tuesday, May 14th. Daiwa America upgraded shares of Palo Alto Networks to a “strong-buy” rating in a report on Wednesday, May 29th. JMP Securities reiterated a “market outperform” rating and issued a $380.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 21st. Oppenheimer reiterated an “outperform” rating and issued a $330.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 21st. Finally, Daiwa Capital Markets initiated coverage on shares of Palo Alto Networks in a report on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 price objective on the stock. Twelve research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.17.

Palo Alto Networks Stock Performance

PANW traded up $8.32 during mid-day trading on Friday, reaching $319.36. 2,829,342 shares of the stock were exchanged, compared to its average volume of 4,863,564. The stock has a market capitalization of $103.41 billion, a PE ratio of 46.46, a price-to-earnings-growth ratio of 4.86 and a beta of 1.10. The company has a 50 day moving average price of $301.01 and a two-hundred day moving average price of $305.71. Palo Alto Networks, Inc. has a 1 year low of $201.17 and a 1 year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. Sell-side analysts expect that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

Palo Alto Networks 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.