Teamwork Financial Advisors LLC Invests $7.19 Million in Palo Alto Networks, Inc. (NASDAQ:PANW)

Teamwork Financial Advisors LLC purchased a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,316 shares of the network technology company’s stock, valued at approximately $7,193,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Veracity Capital LLC boosted its position in Palo Alto Networks by 15.8% in the 1st quarter. Veracity Capital LLC now owns 1,101 shares of the network technology company’s stock valued at $313,000 after buying an additional 150 shares during the last quarter. Tran Capital Management L.P. boosted its holdings in Palo Alto Networks by 59.5% in the first quarter. Tran Capital Management L.P. now owns 132,965 shares of the network technology company’s stock valued at $37,779,000 after acquiring an additional 49,601 shares during the last quarter. Retirement Guys Formula LLC acquired a new stake in Palo Alto Networks in the first quarter worth about $1,158,000. AMI Asset Management Corp raised its holdings in Palo Alto Networks by 2.7% during the 1st quarter. AMI Asset Management Corp now owns 150,434 shares of the network technology company’s stock worth $42,743,000 after purchasing an additional 3,974 shares during the last quarter. Finally, First Trust Direct Indexing L.P. lifted its position in Palo Alto Networks by 17.2% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,363 shares of the network technology company’s stock valued at $1,524,000 after purchasing an additional 788 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In related news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $339.16, for a total value of $12,209,760.00. Following the transaction, the executive vice president now directly owns 1,223,567 shares in the company, valued at $414,984,983.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $339.16, for a total transaction of $12,209,760.00. Following the transaction, the executive vice president now owns 1,223,567 shares in the company, valued at approximately $414,984,983.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Lee Klarich sold 121,276 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $299.60, for a total value of $36,334,289.60. Following the sale, the executive vice president now owns 166,542 shares of the company’s stock, valued at $49,895,983.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 362,525 shares of company stock valued at $110,064,607. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Stock Up 0.2 %

Shares of PANW traded up $0.76 during trading hours on Thursday, hitting $341.20. The company had a trading volume of 1,022,648 shares, compared to its average volume of 2,980,896. The business has a fifty day moving average of $310.13 and a 200-day moving average of $307.86. The firm has a market cap of $110.48 billion, a price-to-earnings ratio of 49.59, a PEG ratio of 5.21 and a beta of 1.14. Palo Alto Networks, Inc. has a 12 month low of $201.17 and a 12 month high of $380.84.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Redburn Atlantic lifted their price target on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. BMO Capital Markets upped their target price 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. Robert W. Baird raised their price target on Palo Alto Networks from $340.00 to $360.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th. Susquehanna upped their price objective on Palo Alto Networks from $325.00 to $340.00 and gave the company a “positive” rating in a report on Tuesday, May 21st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $330.00 target price on shares of Palo Alto Networks in a research note on Wednesday, March 13th. Twelve research 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 stock. According to data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.29.

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.