Seven Mile Advisory Grows Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Seven Mile Advisory raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 8.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 815 shares of the network technology company’s stock after acquiring an additional 64 shares during the quarter. Seven Mile Advisory’s holdings in Palo Alto Networks were worth $276,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PANW. Pathway Financial Advisers LLC purchased a new stake in shares of Palo Alto Networks during the 1st quarter worth $25,000. Frank Rimerman Advisors LLC acquired a new stake in Palo Alto Networks in the fourth quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. lifted its holdings in Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after buying an additional 96 shares during the last quarter. Ulland Investment Advisors LLC acquired a new position in shares of Palo Alto Networks during the 1st quarter worth about $30,000. Finally, Central Bank & Trust Co. increased its holdings in shares of Palo Alto Networks by 89.3% in the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 50 shares during 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 news, President William D. Jenkins, Jr. sold 1,475 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $339.12, for a total value of $500,202.00. Following the completion of the transaction, the president now directly owns 19,026 shares of the company’s stock, valued at $6,452,097.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Mary Pat Mccarthy sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the sale, the director now owns 31,517 shares in the company, valued at $10,983,359.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,475 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the sale, the president now directly owns 19,026 shares of the company’s stock, valued at $6,452,097.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 464,075 shares of company stock worth $154,029,567. 3.30% of the stock is owned by insiders.

Palo Alto Networks Trading Up 0.5 %

Shares of PANW opened at $346.90 on Friday. The firm’s 50-day moving average is $336.21 and its two-hundred day moving average is $312.16. Palo Alto Networks, Inc. has a twelve month low of $224.64 and a twelve month high of $380.84. The firm has a market capitalization of $112.95 billion, a P/E ratio of 50.42, a PEG ratio of 4.98 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the business posted $0.80 EPS. Palo Alto Networks’s quarterly revenue was up 12.1% on a year-over-year basis. Analysts predict that Palo Alto Networks, Inc. will post 3.55 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $350.00 target price on shares of Palo Alto Networks in a research note on Monday, August 19th. Needham & Company LLC boosted their price objective on shares of Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Argus increased their target price on shares of Palo Alto Networks from $336.00 to $348.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. UBS Group boosted their price target on shares of Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Wedbush reaffirmed an “outperform” rating and set a $375.00 price objective on shares of Palo Alto Networks in a report on Friday, August 16th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $366.08.

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.