Claro Advisors LLC Purchases 1,517 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Claro Advisors LLC boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 84.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,324 shares of the network technology company’s stock after purchasing an additional 1,517 shares during the quarter. Claro Advisors LLC’s holdings in Palo Alto Networks were worth $944,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in PANW. Miracle Mile Advisors LLC raised its holdings in shares of Palo Alto Networks by 10.4% during the first quarter. Miracle Mile Advisors LLC now owns 5,138 shares of the network technology company’s stock worth $1,460,000 after acquiring an additional 482 shares during the period. Aviance Capital Partners LLC acquired a new stake in shares of Palo Alto Networks in the 1st quarter valued at about $921,000. Mirador Capital Partners LP lifted its holdings in shares of Palo Alto Networks by 182.1% in the first quarter. Mirador Capital Partners LP now owns 16,277 shares of the network technology company’s stock valued at $4,625,000 after purchasing an additional 10,507 shares in the last quarter. Clarity Wealth Advisors LLC acquired a new position in shares of Palo Alto Networks during the first quarter worth about $306,000. Finally, Jeppson Wealth Management LLC grew its holdings in shares of Palo Alto Networks by 2.1% during the first quarter. Jeppson Wealth Management LLC now owns 5,959 shares of the network technology company’s stock worth $1,693,000 after buying an additional 120 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Palo Alto Networks

In related news, Director Aparna Bawa sold 322 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total value of $99,820.00. Following the transaction, the director now owns 3,767 shares in the company, valued at $1,167,770. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Palo Alto Networks news, Director Aparna Bawa sold 322 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total transaction of $99,820.00. Following the sale, the director now directly owns 3,767 shares of the company’s stock, valued at $1,167,770. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President William D. Jenkins, Jr. sold 1,621 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total transaction of $497,517.32. Following the transaction, the president now owns 20,501 shares of the company’s stock, valued at approximately $6,292,166.92. The disclosure for this sale can be found here. Insiders have sold a total of 258,182 shares of company stock worth $74,850,597 over the last three months. 3.30% of the stock is currently owned by insiders.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $340.90 on Tuesday. Palo Alto Networks, Inc. has a fifty-two week low of $201.17 and a fifty-two week high of $380.84. The firm’s 50-day simple moving average is $307.06 and its 200 day simple moving average is $307.11. The stock has a market cap of $110.38 billion, a PE ratio of 49.55, a price-to-earnings-growth ratio of 5.19 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the business earned $0.38 EPS. The company’s revenue was up 15.3% compared to the same quarter last year. As a group, analysts predict that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PANW. JPMorgan Chase & Co. raised their price target on shares of Palo Alto Networks from $330.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. Sanford C. Bernstein boosted their price objective on shares of Palo Alto Networks from $335.00 to $364.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. Royal Bank of Canada reduced their price target on Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating for the company in a report on Tuesday, May 21st. Wedbush restated an “outperform” rating and issued a $375.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Finally, Morgan Stanley reissued an “overweight” rating and set a $360.00 target price on shares of Palo Alto Networks in a report on Wednesday, June 12th. Twelve analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus price target of $326.29.

Palo Alto Networks 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.