Wedmont Private Capital Has $849,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Wedmont Private Capital lifted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 2.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 3,043 shares of the network technology company’s stock after buying an additional 81 shares during the quarter. Wedmont Private Capital’s holdings in Palo Alto Networks were worth $849,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of PANW. Norges Bank acquired a new stake in Palo Alto Networks in the 4th quarter worth about $1,563,020,000. International Assets Investment Management LLC raised its stake in Palo Alto Networks by 29,086.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock worth $606,854,000 after purchasing an additional 2,050,917 shares in the last quarter. Jennison Associates LLC raised its position in shares of Palo Alto Networks by 83.1% in the 4th quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock valued at $771,643,000 after buying an additional 1,187,915 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Palo Alto Networks by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock valued at $8,129,800,000 after buying an additional 1,058,127 shares in the last quarter. Finally, Axiom Investors LLC DE raised its position in shares of Palo Alto Networks by 359.3% in the 4th quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock valued at $282,406,000 after buying an additional 749,199 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock traded up $8.88 during trading on Friday, reaching $319.92. 1,733,840 shares of the company traded hands, compared to its average volume of 4,852,854. Palo Alto Networks, Inc. has a 1-year low of $201.17 and a 1-year high of $380.84. The company has a 50 day moving average price of $301.01 and a 200-day moving average price of $305.71. The firm has a market capitalization of $103.59 billion, a PE ratio of 46.27, a P/E/G ratio of 4.86 and a beta of 1.10.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last released its earnings results 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. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The company 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 company earned $0.38 EPS. Palo Alto Networks’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities research analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, Director Aparna Bawa sold 322 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total transaction 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 filing with the SEC, which is accessible through this link. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,621 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were 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 in the company, valued at $6,292,166.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Aparna Bawa sold 322 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total transaction of $99,820.00. Following the transaction, the director now owns 3,767 shares in the company, valued at approximately $1,167,770. The disclosure for this sale can be found here. Insiders have sold 258,182 shares of company stock worth $74,850,597 in the last quarter. Company insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

PANW has been the subject of several analyst reports. Citigroup boosted their target price on shares of Palo Alto Networks from $335.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Macquarie boosted their target price 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. JMP Securities restated a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Evercore ISI dropped their target price on shares of Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating for the company in a research report on Tuesday, May 14th. Finally, Argus lifted their price target on shares of Palo Alto Networks from $336.00 to $348.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Twelve research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus target price of $324.17.

Get Our Latest Stock Report on PANW

Palo Alto Networks Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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