Financial Partners Group LLC Has $8.16 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Financial Partners Group LLC decreased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 41.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,711 shares of the network technology company’s stock after selling 19,951 shares during the period. Palo Alto Networks comprises about 3.2% of Financial Partners Group LLC’s holdings, making the stock its 12th largest holding. Financial Partners Group LLC’s holdings in Palo Alto Networks were worth $8,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GSG Advisors LLC lifted its stake in Palo Alto Networks by 1.0% in the 4th quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock valued at $1,478,000 after purchasing an additional 51 shares during the last quarter. Spirit of America Management Corp NY increased its position in Palo Alto Networks by 50.0% in the 4th quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock valued at $88,000 after acquiring an additional 100 shares during the period. Beacon Pointe Advisors LLC increased its position in Palo Alto Networks by 31.4% in the 4th quarter. Beacon Pointe Advisors LLC now owns 112,040 shares of the network technology company’s stock valued at $33,038,000 after acquiring an additional 26,767 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Palo Alto Networks by 9.9% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,726 shares of the network technology company’s stock valued at $7,291,000 after acquiring an additional 2,225 shares during the period. Finally, Sunbelt Securities Inc. increased its position in Palo Alto Networks by 91.0% in the 1st quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after acquiring an additional 802 shares during the period. Institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PANW. BMO Capital Markets upped their price target on shares of Palo Alto Networks from $327.00 to $334.00 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. Oppenheimer restated an “outperform” rating and issued a $330.00 price target on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Stifel Nicolaus restated a “buy” rating and issued a $330.00 price target on shares of Palo Alto Networks in a research report on Wednesday, March 13th. Royal Bank of Canada decreased their price target on shares of Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $350.00 price objective on shares of Palo Alto Networks in a research report on Friday, June 21st. Twelve equities 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $326.29.

Palo Alto Networks Trading Down 0.5 %

Shares of PANW traded down $1.81 during trading hours on Friday, reaching $339.01. 4,172,306 shares of the stock traded hands, compared to its average volume of 3,168,419. The stock has a fifty day simple moving average of $307.06 and a 200 day simple moving average of $307.11. Palo Alto Networks, Inc. has a 52 week low of $201.17 and a 52 week high of $380.84. The company has a market cap of $109.77 billion, a price-to-earnings ratio of 49.27, a PEG ratio of 5.19 and a beta of 1.10.

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

Insiders Place Their Bets

In other Palo Alto Networks news, Director Aparna Bawa sold 322 shares of Palo Alto Networks stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total value of $99,820.00. Following the sale, the director now owns 3,767 shares of the company’s stock, valued at $1,167,770. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks 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 completion of the transaction, the executive vice president now owns 174,075 shares in the company, valued at $46,659,063. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Aparna Bawa sold 322 shares of Palo Alto Networks stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total transaction of $99,820.00. Following the completion of the transaction, the director now owns 3,767 shares of the company’s stock, valued at approximately $1,167,770. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 258,182 shares of company stock valued at $74,850,597. Company insiders own 3.30% of the company’s stock.

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.