Park Place Capital Corp Sells 295 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Park Place Capital Corp cut its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 17.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,411 shares of the network technology company’s stock after selling 295 shares during the period. Park Place Capital Corp’s holdings in Palo Alto Networks were worth $401,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PANW. Claro Advisors LLC lifted its position in shares of Palo Alto Networks by 84.0% during the 1st quarter. Claro Advisors LLC now owns 3,324 shares of the network technology company’s stock valued at $944,000 after buying an additional 1,517 shares in the last quarter. Miracle Mile Advisors LLC lifted its holdings in Palo Alto Networks by 10.4% in the 1st quarter. Miracle Mile Advisors LLC now owns 5,138 shares of the network technology company’s stock worth $1,460,000 after purchasing an additional 482 shares in the last quarter. Aviance Capital Partners LLC bought a new position in Palo Alto Networks in the 1st quarter worth approximately $921,000. Mirador Capital Partners LP grew its holdings in Palo Alto Networks by 182.1% during the 1st quarter. Mirador Capital Partners LP now owns 16,277 shares of the network technology company’s stock valued at $4,625,000 after buying an additional 10,507 shares in the last quarter. Finally, Clarity Wealth Advisors LLC bought a new position in shares of Palo Alto Networks during the first quarter worth $306,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 0.6 %

PANW opened at $340.90 on Tuesday. Palo Alto Networks, Inc. has a 52 week low of $201.17 and a 52 week high of $380.84. The business has a 50 day moving average price of $307.06 and a two-hundred day moving average price of $307.11. The company has a market cap of $110.38 billion, a PE ratio of 49.55, a P/E/G ratio of 5.19 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results 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. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, sell-side analysts expect that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

Insider Activity

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

Analyst Ratings Changes

Several research analysts have commented on the stock. Susquehanna increased their price objective on shares of Palo Alto Networks from $325.00 to $340.00 and gave the company a “positive” rating in a report on Tuesday, May 21st. DA Davidson started coverage on Palo Alto Networks in a research report on Friday, June 21st. They issued a “buy” rating and a $380.00 price target for the company. Argus upped their price target on shares of Palo Alto Networks from $336.00 to $348.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Redburn Atlantic boosted their price target on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 target price on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Twelve equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $326.29.

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.