10,779 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Bought by Clarity Financial LLC

Clarity Financial LLC purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the 1st quarter, Holdings Channel reports. The fund purchased 10,779 shares of the network technology company’s stock, valued at approximately $3,063,000.

A number of other large investors also recently modified their holdings of the business. Sovereign Financial Group Inc. acquired a new stake in shares of Palo Alto Networks in the first quarter valued at approximately $327,000. Brookstone Capital Management increased its holdings in shares of Palo Alto Networks by 48.4% in the first quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company’s stock valued at $7,502,000 after purchasing an additional 8,611 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of Palo Alto Networks by 91.0% in the first quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after purchasing an additional 802 shares during the period. RMR Wealth Builders lifted its stake in shares of Palo Alto Networks by 18.5% during the 1st quarter. RMR Wealth Builders now owns 2,621 shares of the network technology company’s stock worth $745,000 after buying an additional 409 shares during the last quarter. Finally, Atlas Capital Advisors LLC bought a new stake in shares of Palo Alto Networks during the 1st quarter worth about $56,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Palo Alto Networks news, Director John P. Key sold 2,163 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $305.41, for a total value of $660,601.83. Following the sale, the director now owns 12,639 shares of the company’s stock, valued at approximately $3,860,076.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Palo Alto Networks news, Director John P. Key sold 2,163 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $305.41, for a total transaction of $660,601.83. Following the sale, the director now owns 12,639 shares in the company, valued at $3,860,076.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Klarich sold 800 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $300.21, for a total value of $240,168.00. Following the completion of the transaction, the executive vice president now owns 166,542 shares of the company’s stock, valued at $49,997,573.82. The disclosure for this sale can be found here. Insiders sold 258,182 shares of company stock worth $74,850,597 in the last three months. Corporate insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PANW shares. Wedbush reaffirmed an “outperform” rating and issued a $375.00 target price on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Sanford C. Bernstein upped their price objective on Palo Alto Networks from $335.00 to $364.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Oppenheimer reaffirmed an “outperform” rating and set a $330.00 price target on shares of Palo Alto Networks in a research report on Tuesday, May 21st. JMP Securities restated a “market outperform” rating and issued a $380.00 price target on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Finally, Citigroup increased their price objective on shares of Palo Alto Networks from $335.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Twelve research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $326.29.

Palo Alto Networks Stock Up 3.4 %

PANW opened at $336.31 on Thursday. The company has a market capitalization of $108.90 billion, a price-to-earnings ratio of 47.28, a PEG ratio of 4.94 and a beta of 1.10. The firm has a 50-day moving average price of $303.68 and a 200-day moving average price of $306.50. Palo Alto Networks, Inc. has a twelve month low of $201.17 and a twelve month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, topping 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 analyst estimates of $1.97 billion. During the same period last year, the company 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, sell-side analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

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.