Edmonds Duncan Registered Investment Advisors LLC Has $355,000 Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Edmonds Duncan Registered Investment Advisors LLC decreased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,248 shares of the network technology company’s stock after selling 100 shares during the period. Edmonds Duncan Registered Investment Advisors LLC’s holdings in Palo Alto Networks were worth $355,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Palo Alto Networks in the 4th quarter worth approximately $1,563,020,000. International Assets Investment Management LLC lifted its position in Palo Alto Networks by 29,086.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock worth $606,854,000 after buying an additional 2,050,917 shares in the last quarter. Jennison Associates LLC lifted its position in Palo Alto Networks by 83.1% in the 4th quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock worth $771,643,000 after buying an additional 1,187,915 shares in the last quarter. Vanguard Group Inc. lifted its position in Palo Alto Networks by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock worth $8,129,800,000 after buying an additional 1,058,127 shares in the last quarter. Finally, Axiom Investors LLC DE lifted its position in Palo Alto Networks by 359.3% in the 4th quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock worth $282,406,000 after buying an additional 749,199 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, Director John P. Key sold 2,163 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $305.41, for a total value of $660,601.83. Following the transaction, the director now directly owns 12,639 shares in the company, valued at $3,860,076.99. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Palo Alto Networks news, Director Aparna Bawa sold 322 shares of the business’s 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 completion of the transaction, the director now directly 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 available at this hyperlink. Also, Director John P. Key sold 2,163 shares of the business’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 completion of the transaction, the director now directly owns 12,639 shares of the company’s stock, valued at $3,860,076.99. The disclosure for this sale can be found here. Insiders have sold a total of 258,182 shares of company stock worth $74,850,597 over the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

PANW has been the subject of a number of research analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $330.00 target price on shares of Palo Alto Networks in a research report on Wednesday, March 13th. KeyCorp raised their price target on shares of Palo Alto Networks from $355.00 to $384.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. DA Davidson initiated coverage on shares of Palo Alto Networks in a report on Friday, June 21st. They set a “buy” rating and a $380.00 price target on the stock. JMP Securities restated a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a report on Tuesday, May 21st. Finally, Morgan Stanley restated an “overweight” rating and set a $360.00 price target on shares of Palo Alto Networks in a report on Wednesday, June 12th. Twelve analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $326.29.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock traded down $1.09 during trading on Tuesday, hitting $339.81. 594,218 shares of the company’s stock traded hands, compared to its average volume of 4,791,854. The firm’s fifty day moving average price is $307.06 and its 200 day moving average price is $307.11. Palo Alto Networks, Inc. has a twelve month low of $201.17 and a twelve month high of $380.84. The company has a market cap of $110.03 billion, a PE ratio of 49.32, a PEG ratio of 5.19 and a beta of 1.14.

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