Hexagon Capital Partners LLC Boosts Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Hexagon Capital Partners LLC boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 232.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 426 shares of the network technology company’s stock after buying an additional 298 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Palo Alto Networks were worth $121,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of PANW. Frank Rimerman Advisors LLC purchased a new position in Palo Alto Networks during the fourth quarter worth $27,000. Financial Synergies Wealth Advisors Inc. boosted its stake in shares of Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 96 shares during the period. Webster Bank N. A. boosted its stake in shares of 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 valued at $29,000 after purchasing an additional 85 shares during the period. Cedar Mountain Advisors LLC boosted its stake in shares of 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 valued at $30,000 after purchasing an additional 47 shares during the period. Finally, Central Bank & Trust Co. boosted its stake in shares of Palo Alto Networks by 89.3% during the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 50 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Trading Up 0.6 %

Palo Alto Networks stock traded up $1.89 during mid-day trading on Monday, hitting $340.90. The company had a trading volume of 2,382,234 shares, compared to its average volume of 4,825,868. Palo Alto Networks, Inc. has a 12-month low of $201.17 and a 12-month high of $380.84. The company’s fifty day moving average is $307.06 and its 200-day moving average is $307.11. The company has a market capitalization of $110.38 billion, a price-to-earnings ratio of 49.55, a P/E/G ratio of 5.19 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the firm posted $0.38 EPS. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, sell-side analysts expect that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. JMP Securities reissued a “market outperform” rating and set a $380.00 target price on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Wedbush reissued an “outperform” rating and set a $375.00 target price on shares of Palo Alto Networks in a research note on Tuesday, May 21st. DA Davidson started coverage on Palo Alto Networks in a report on Friday, June 21st. They issued a “buy” rating and a $380.00 price objective for the company. Royal Bank of Canada decreased their price objective on Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating for the company in a report on Tuesday, May 21st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $330.00 price objective on shares of Palo Alto Networks in a report on Wednesday, March 13th. Twelve equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $326.29.

Insider Activity

In other news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the transaction, the executive vice president now owns 174,075 shares in the company, valued at approximately $46,659,063. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, President William D. Jenkins, Jr. sold 1,621 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total transaction of $497,517.32. Following the transaction, the president now owns 20,501 shares in the company, valued at approximately $6,292,166.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 174,075 shares in the company, valued at approximately $46,659,063. The disclosure for this sale can be found here. Insiders have sold 258,182 shares of company stock worth $74,850,597 in the last quarter. Corporate insiders own 3.30% of the company’s stock.

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.