K.J. Harrison & Partners Inc Purchases Shares of 3,024 Palo Alto Networks, Inc. (NASDAQ:PANW)

K.J. Harrison & Partners Inc acquired a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,024 shares of the network technology company’s stock, valued at approximately $892,000.

A number of other institutional investors and hedge funds also recently modified their holdings of PANW. First Pacific Financial increased its stake in shares of Palo Alto Networks by 421.7% during the 3rd quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock worth $28,000 after purchasing an additional 97 shares during the last quarter. Webster Bank N. A. raised its stake in shares of Palo Alto Networks by 607.1% in the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after buying an additional 85 shares during the period. Cedar Mountain Advisors LLC increased its holdings in Palo Alto Networks by 87.0% in the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after acquiring an additional 47 shares during the last quarter. Byrne Asset Management LLC raised its position in shares of Palo Alto Networks by 277.8% in the third quarter. Byrne Asset Management LLC now owns 136 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 100 shares during the period. Finally, MV Capital Management Inc. grew its position in shares of Palo Alto Networks by 37.2% in the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 29 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on PANW. Rosenblatt Securities downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating and cut their target price for the stock from $290.00 to $265.00 in a research note on Wednesday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 target price on shares of Palo Alto Networks in a report on Wednesday, February 21st. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research note on Monday, January 29th. Capital One Financial lowered shares of Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price target for the company. in a research report on Wednesday, February 21st. Finally, Evercore ISI increased their price objective on Palo Alto Networks from $315.00 to $405.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $314.82.

Palo Alto Networks Stock Up 0.9 %

Shares of PANW stock traded up $2.63 during mid-day trading on Friday, reaching $291.42. 2,246,512 shares of the company’s stock traded hands, compared to its average volume of 3,487,617. The company’s 50-day moving average price is $287.61 and its 200-day moving average price is $292.10. The company has a market cap of $94.16 billion, a P/E ratio of 45.53, a P/E/G ratio of 3.93 and a beta of 1.19. Palo Alto Networks, Inc. has a 12 month low of $176.30 and a 12 month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Equities analysts predict that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the sale, the chief accounting officer now directly owns 27,247 shares in the company, valued at approximately $7,629,160. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction 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 directly owns 174,075 shares of the company’s stock, valued at $46,659,063. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 167,917 shares of company stock worth $49,395,553. 3.30% of the stock is owned by insiders.

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.