Resources Management Corp CT ADV Acquires 44 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Resources Management Corp CT ADV boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,634 shares of the network technology company’s stock after acquiring an additional 44 shares during the quarter. Resources Management Corp CT ADV’s holdings in Palo Alto Networks were worth $2,249,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Aveo Capital Partners LLC bought a new position in shares of Palo Alto Networks during the 4th quarter valued at about $212,000. Gryphon Financial Partners LLC bought a new position in Palo Alto Networks during the 4th quarter worth approximately $336,000. Orion Portfolio Solutions LLC lifted its holdings in Palo Alto Networks by 8.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 14,800 shares of the network technology company’s stock worth $4,285,000 after buying an additional 1,179 shares during the period. Congress Wealth Management LLC DE lifted its holdings in Palo Alto Networks by 69.7% in the 4th quarter. Congress Wealth Management LLC DE now owns 8,034 shares of the network technology company’s stock worth $2,369,000 after buying an additional 3,299 shares during the period. Finally, Hilltop Holdings Inc. lifted its holdings in Palo Alto Networks by 3.3% in the 4th quarter. Hilltop Holdings Inc. now owns 3,842 shares of the network technology company’s stock worth $1,133,000 after buying an additional 124 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Trading Up 1.2 %

NASDAQ:PANW opened at $344.17 on Tuesday. The company has a market capitalization of $111.44 billion, a P/E ratio of 50.02, a P/E/G ratio of 5.04 and a beta of 1.13. Palo Alto Networks, Inc. has a 12 month low of $224.64 and a 12 month high of $380.84. The business’s 50-day moving average is $336.46 and its 200 day moving average is $313.98.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the business posted $0.80 earnings per share. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, research analysts forecast that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PANW has been the subject of several research analyst reports. The Goldman Sachs Group increased their price objective on Palo Alto Networks from $330.00 to $376.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Robert W. Baird increased their price objective on Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. KeyCorp increased their price objective on Palo Alto Networks from $380.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. JMP Securities restated a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Finally, Needham & Company LLC raised their target price on Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and an average target price of $366.08.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the sale, the chief accounting officer now directly owns 24,982 shares in the company, valued at $8,443,916. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the transaction, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $54,854,924.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 $8,443,916. The disclosure for this sale can be found here. Insiders have sold a total of 464,075 shares of company stock worth $154,029,567 over the last ninety days. Company 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.