Prime Capital Investment Advisors LLC Grows Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Prime Capital Investment Advisors LLC raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 44.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 13,082 shares of the network technology company’s stock after buying an additional 4,052 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Palo Alto Networks were worth $4,435,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Pathway Financial Advisers LLC purchased a new stake in shares of Palo Alto Networks during the first quarter valued at about $25,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Palo Alto Networks during the fourth quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. lifted its position 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 buying an additional 96 shares during the last quarter. Ulland Investment Advisors LLC purchased a new stake in shares of Palo Alto Networks during the first quarter valued at about $30,000. Finally, Central Bank & Trust Co. lifted its position 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 buying an additional 50 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the transaction, the chief accounting officer now owns 24,982 shares in the company, valued at approximately $8,443,916. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, President William D. Jenkins, Jr. sold 1,475 shares of Palo Alto Networks stock in a transaction 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 transaction, the president now owns 19,026 shares in the company, valued at approximately $6,452,097.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the transaction, the chief accounting officer now owns 24,982 shares in the company, valued at approximately $8,443,916. 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. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $346.90 on Monday. The company’s fifty day moving average price is $336.21 and its 200 day moving average price is $312.13. Palo Alto Networks, Inc. has a 1 year low of $224.64 and a 1 year high of $380.84. The stock has a market capitalization of $112.95 billion, a P/E ratio of 50.42, a P/E/G ratio of 4.98 and a beta of 1.13.

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

Analysts Set New Price Targets

Several brokerages recently commented on PANW. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Sanford C. Bernstein increased their price objective on shares of Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. UBS Group increased their price objective 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. Macquarie increased their price objective on shares of Palo Alto Networks from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Finally, KeyCorp increased their price objective on shares of Palo Alto Networks from $380.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus price target 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.