Aurora Private Wealth Inc. Makes New $1.97 Million Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

by · The Markets Daily

Aurora Private Wealth Inc. purchased a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,543 shares of the network technology company’s stock, valued at approximately $1,970,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Transce3nd LLC purchased a new stake in shares of Palo Alto Networks during the 4th quarter valued at about $25,000. Strategic Investment Solutions Inc. IL lifted its position in Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 55 shares during the period. Anchor Investment Management LLC lifted its position in Palo Alto Networks by 100.0% during the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 78 shares during the period. Kiely Wealth Advisory Group Inc. boosted its holdings in Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock worth $29,000 after purchasing an additional 75 shares during the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in Palo Alto Networks in the 4th quarter worth approximately $29,000. 79.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PANW has been the topic of several research analyst reports. Roth Capital began coverage on Palo Alto Networks in a report on Thursday, May 15th. They set a “neutral” rating and a $210.00 price target on the stock. Sanford C. Bernstein set a $225.00 price objective on Palo Alto Networks and gave the company an “outperform” rating in a research report on Wednesday, May 21st. Guggenheim reissued a “sell” rating and issued a $130.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. TD Securities reissued a “buy” rating and issued a $230.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Finally, Barclays reduced their price target on shares of Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $208.00.

View Our Latest Report on PANW

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $201.50 on Friday. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The firm’s 50 day moving average price is $193.35 and its 200-day moving average price is $185.44. The stock has a market cap of $134.36 billion, a P/E ratio of 115.14, a PEG ratio of 5.50 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the previous year, the firm posted $0.66 EPS. Palo Alto Networks’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Transactions at Palo Alto Networks

In related news, EVP Nir Zuk sold 100,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total transaction of $19,866,000.00. Following the completion of the transaction, the executive vice president directly owned 3,243,516 shares of the company’s stock, valued at approximately $644,356,888.56. This represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Josh D. Paul sold 600 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $204.00, for a total value of $122,400.00. Following the completion of the sale, the chief accounting officer directly owned 41,433 shares in the company, valued at approximately $8,452,332. The trade was a 1.43% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 668,722 shares of company stock valued at $121,714,798. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report).