Chesley Taft & Associates LLC Has $25.38 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Chesley Taft & Associates LLC raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 16.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,339 shares of the network technology company’s stock after buying an additional 12,793 shares during the quarter. Palo Alto Networks accounts for approximately 1.3% of Chesley Taft & Associates LLC’s holdings, making the stock its 22nd biggest holding. Chesley Taft & Associates LLC’s holdings in Palo Alto Networks were worth $25,384,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. GSG Advisors LLC raised its position in shares of Palo Alto Networks by 1.0% during the 4th quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock valued at $1,478,000 after acquiring an additional 51 shares during the last quarter. Spirit of America Management Corp NY raised its stake in Palo Alto Networks by 50.0% during the 4th quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock worth $88,000 after buying an additional 100 shares during the period. Beacon Pointe Advisors LLC lifted its holdings in Palo Alto Networks by 31.4% during the fourth quarter. Beacon Pointe Advisors LLC now owns 112,040 shares of the network technology company’s stock worth $33,038,000 after acquiring an additional 26,767 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Palo Alto Networks by 9.9% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,726 shares of the network technology company’s stock worth $7,291,000 after acquiring an additional 2,225 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group raised its position in shares of Palo Alto Networks by 46.4% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 4,178 shares of the network technology company’s stock worth $1,232,000 after purchasing an additional 1,325 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wedbush restated an “outperform” rating and set a $375.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 21st. BMO Capital Markets increased their target price on Palo Alto Networks from $327.00 to $334.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $350.00 price target on shares of Palo Alto Networks in a report on Friday, June 21st. JMP Securities reiterated a “market outperform” rating and set a $380.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 21st. Finally, Macquarie boosted their target price on Palo Alto Networks from $270.00 to $285.00 and gave the company a “neutral” rating in a research note 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $326.29.

Get Our Latest Stock Report on PANW

Palo Alto Networks Stock Up 4.8 %

Shares of NASDAQ:PANW traded up $15.56 during trading on Thursday, hitting $340.82. 5,644,550 shares of the company were exchanged, compared to its average volume of 4,851,015. Palo Alto Networks, Inc. has a 1-year low of $201.17 and a 1-year high of $380.84. The company has a market capitalization of $110.36 billion, a P/E ratio of 49.80, a price-to-earnings-growth ratio of 4.94 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 (NASDAQ:PANWGet Free Report) last issued its earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) 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 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 firm earned $0.38 EPS. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Insider Activity at Palo Alto Networks

In other news, Director John P. Key sold 2,163 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $305.41, for a total transaction of $660,601.83. Following the completion of the transaction, the director now owns 12,639 shares of the company’s stock, valued at $3,860,076.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director John P. Key sold 2,163 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $305.41, for a total value of $660,601.83. Following the completion of the sale, the director now owns 12,639 shares of the company’s stock, valued at $3,860,076.99. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lee Klarich sold 800 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $300.21, for a total value of $240,168.00. Following the completion of the transaction, the executive vice president now directly owns 166,542 shares in the company, valued at $49,997,573.82. The disclosure for this sale can be found here. Insiders sold a total of 258,182 shares of company stock worth $74,850,597 in the last quarter. 3.30% of the stock is owned by insiders.

Palo Alto Networks 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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