Brookstone Capital Management Purchases 8,611 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Brookstone Capital Management increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 48.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,404 shares of the network technology company’s stock after buying an additional 8,611 shares during the quarter. Brookstone Capital Management’s holdings in Palo Alto Networks were worth $7,502,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Frank Rimerman Advisors LLC bought a new position in shares of Palo Alto Networks during the fourth quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. boosted its position in 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 purchasing an additional 96 shares during the last quarter. Webster Bank N. A. boosted its position in Palo Alto Networks by 607.1% during the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 85 shares during the last quarter. Cedar Mountain Advisors LLC boosted its position in Palo Alto Networks by 87.0% during the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 47 shares during the last quarter. Finally, Central Bank & Trust Co. boosted its position in 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 purchasing an additional 50 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $340.82 on Friday. The company has a market capitalization of $110.36 billion, a price-to-earnings ratio of 49.54, a P/E/G ratio of 4.98 and a beta of 1.10. The business’s 50-day moving average is $304.64 and its 200-day moving average is $306.64. Palo Alto Networks, Inc. has a 1 year low of $201.17 and a 1 year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $1.98 billion for 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 firm’s revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 EPS. Analysts anticipate that Palo Alto Networks, Inc. will post 2.94 EPS for the current year.

Analyst Upgrades and Downgrades

PANW has been the subject of a number of recent analyst reports. Daiwa Capital Markets initiated coverage on Palo Alto Networks in a research report on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 price objective for the company. Royal Bank of Canada lowered their target price on Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. Susquehanna increased their target price on Palo Alto Networks from $325.00 to $340.00 and gave the stock a “positive” rating in a research note on Tuesday, May 21st. Macquarie increased their target price on Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Finally, DA Davidson began coverage on Palo Alto Networks in a research note on Friday, June 21st. They set a “buy” rating and a $380.00 target price on the stock. Twelve analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $326.29.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00. Following the completion of the sale, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Aparna Bawa sold 322 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total value of $16,082,400.00. Following the completion of the sale, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at $46,659,063. The disclosure for this sale can be found here. Insiders sold 258,182 shares of company stock valued at $74,850,597 in the last three months. Corporate insiders own 3.30% of the company’s stock.

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.