IAM Advisory LLC Has $1.63 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

IAM Advisory LLC cut its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,813 shares of the network technology company’s stock after selling 82 shares during the quarter. IAM Advisory LLC’s holdings in Palo Alto Networks were worth $1,632,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PANW. Beacon Pointe Advisors LLC increased its stake in Palo Alto Networks by 31.4% in the fourth quarter. Beacon Pointe Advisors LLC now owns 112,040 shares of the network technology company’s stock valued at $33,038,000 after acquiring an additional 26,767 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in 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 valued at $7,291,000 after acquiring an additional 2,225 shares during the last quarter. Sunbelt Securities Inc. grew its stake in shares of Palo Alto Networks by 91.0% during the first quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock worth $478,000 after buying an additional 802 shares during the last quarter. Oliver Lagore Vanvalin Investment Group grew its stake 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 buying an additional 1,325 shares during the last quarter. Finally, American National Bank grew its stake in shares of Palo Alto Networks by 67.4% during the fourth quarter. American National Bank now owns 231 shares of the network technology company’s stock worth $68,000 after buying an additional 93 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $295.93, for a total value of $17,755,800.00. Following the completion of the sale, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,621 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total value of $497,517.32. Following the sale, the president now owns 20,501 shares in the company, valued at $6,292,166.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares in the company, valued at approximately $47,055,533.37. The disclosure for this sale can be found here. In the last ninety days, insiders sold 367,315 shares of company stock valued at $118,696,590. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Up 4.4 %

Shares of NASDAQ:PANW traded up $14.11 during trading on Friday, reaching $331.48. The company had a trading volume of 2,820,115 shares, compared to its average volume of 2,600,238. The company has a fifty day moving average of $322.23 and a two-hundred day moving average of $310.87. The stock has a market capitalization of $107.33 billion, a P/E ratio of 48.18, a price-to-earnings-growth ratio of 3.98 and a beta of 1.14. Palo Alto Networks, Inc. has a 12 month low of $201.17 and a 12 month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, topping 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 firm had revenue of $1.98 billion for the quarter, compared to analyst estimates 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, equities research analysts predict that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 target price on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Citigroup boosted their target price on shares of Palo Alto Networks from $335.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Daiwa America upgraded shares of Palo Alto Networks to a “strong-buy” rating in a report on Wednesday, May 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $350.00 price target on shares of Palo Alto Networks in a report on Friday, June 21st. Finally, Daiwa Capital Markets initiated coverage on shares of Palo Alto Networks in a report on Wednesday, May 29th. They set an “outperform” rating and a $350.00 price target on the stock. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $325.71.

About Palo Alto Networks

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.