MBB Public Markets I LLC Buys 21,001 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

MBB Public Markets I LLC grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1,100.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 22,909 shares of the network technology company’s stock after acquiring an additional 21,001 shares during the period. MBB Public Markets I LLC’s holdings in Palo Alto Networks were worth $7,766,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PANW. Cascade Investment Group Inc. grew its position in shares of Palo Alto Networks by 2.9% during the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock worth $376,000 after buying an additional 31 shares in the last quarter. Sheets Smith Wealth Management grew its holdings in Palo Alto Networks by 2.4% during the 1st quarter. Sheets Smith Wealth Management now owns 1,479 shares of the network technology company’s stock worth $420,000 after acquiring an additional 34 shares in the last quarter. Pin Oak Investment Advisors Inc. increased its position in Palo Alto Networks by 41.2% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 120 shares of the network technology company’s stock valued at $35,000 after purchasing an additional 35 shares during the period. First County Bank CT increased its position in Palo Alto Networks by 1.0% during the 4th quarter. First County Bank CT now owns 3,537 shares of the network technology company’s stock valued at $1,043,000 after purchasing an additional 35 shares during the period. Finally, Western Financial Corp CA raised its holdings in shares of Palo Alto Networks by 1.3% in the 2nd quarter. Western Financial Corp CA now owns 2,704 shares of the network technology company’s stock valued at $917,000 after purchasing an additional 35 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of Palo Alto Networks stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the transaction, the director now owns 31,517 shares of the company’s stock, valued at $10,983,359.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Josh D. Paul sold 200 shares of the 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 transaction, the chief accounting officer now owns 24,982 shares in the company, valued at approximately $8,443,916. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Pat Mccarthy sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the completion of the sale, the director now directly owns 31,517 shares of the company’s stock, valued at approximately $10,983,359.33. The disclosure for this sale can be found here. Insiders sold a total of 464,075 shares of company stock worth $154,029,567 in the last three months. Company insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

PANW has been the topic of a number of recent research reports. Wedbush reiterated an “outperform” rating and set a $375.00 price objective on shares of Palo Alto Networks in a research note on Friday, August 16th. Oppenheimer lifted their price target on Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. UBS Group boosted their price target on Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. lifted their target price on Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Finally, Citigroup increased their price target on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus price target of $366.08.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $338.73 on Friday. The firm’s fifty day moving average is $336.72 and its two-hundred day moving average is $314.61. The firm has a market cap of $109.68 billion, a price-to-earnings ratio of 49.23, a PEG ratio of 4.99 and a beta of 1.13. Palo Alto Networks, Inc. has a one year low of $228.32 and a one year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the business earned $0.80 earnings per share. Palo Alto Networks’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, equities research analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

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.