Newbridge Financial Services Group Inc. Has $861,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Newbridge Financial Services Group Inc. increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,920 shares of the network technology company’s stock after acquiring an additional 158 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Palo Alto Networks were worth $861,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. HighPoint Advisor Group LLC bought a new stake in Palo Alto Networks in the fourth quarter valued at about $1,740,000. PNC Financial Services Group Inc. increased its holdings in shares of Palo Alto Networks by 10.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 65,572 shares of the network technology company’s stock worth $19,336,000 after acquiring an additional 6,217 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in shares of Palo Alto Networks by 0.8% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 56,310 shares of the network technology company’s stock worth $16,605,000 after acquiring an additional 441 shares in the last quarter. Leo Wealth LLC bought a new stake in shares of Palo Alto Networks in the fourth quarter worth about $686,000. Finally, Vanguard Group Inc. increased its holdings in shares of Palo Alto Networks by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock worth $8,129,800,000 after acquiring an additional 1,058,127 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Redburn Atlantic increased their price target on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. JMP Securities reiterated a “market outperform” rating and set a $380.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 21st. Needham & Company LLC reiterated a “buy” rating and set a $345.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 21st. KeyCorp increased their price objective on Palo Alto Networks from $355.00 to $384.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Finally, Northland Securities downgraded Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 price objective for the company. in a report on Wednesday, February 21st. Twelve equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $322.78.

Palo Alto Networks Stock Down 0.3 %

NASDAQ:PANW traded down $0.89 on Tuesday, hitting $318.70. The stock had a trading volume of 271,279 shares, compared to its average volume of 4,880,384. The business’s fifty day moving average is $298.99 and its 200 day moving average is $305.45. The company has a market cap of $103.20 billion, a PE ratio of 46.45, a P/E/G ratio of 4.86 and a beta of 1.11. Palo Alto Networks, Inc. has a 52 week low of $201.17 and a 52 week 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 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 earnings per share. Equities analysts predict that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

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 stock was sold at an average price of $310.00, for a total transaction of $99,820.00. Following the completion of 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 filing with the SEC, which is available at the SEC website. In other news, EVP Lee Klarich sold 800 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $300.21, for a total value of $240,168.00. Following the completion of the sale, the executive vice president now owns 166,542 shares of the company’s stock, valued at approximately $49,997,573.82. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 sale, the director now directly 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 three months, insiders sold 258,182 shares of company stock valued at $74,850,597. 3.30% of the stock is owned by insiders.

Palo Alto Networks Company 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.