Regatta Capital Group LLC Purchases 4,353 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Regatta Capital Group LLC boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 290.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,852 shares of the network technology company’s stock after purchasing an additional 4,353 shares during the period. Regatta Capital Group LLC’s holdings in Palo Alto Networks were worth $999,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL boosted its stake in shares of Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after acquiring an additional 55 shares during the last quarter. JDM Financial Group LLC grew its holdings in Palo Alto Networks by 22.4% during the fourth quarter. JDM Financial Group LLC now owns 322 shares of the network technology company’s stock valued at $59,000 after purchasing an additional 59 shares during the period. Snider Financial Group increased its position in Palo Alto Networks by 0.4% in the first quarter. Snider Financial Group now owns 17,729 shares of the network technology company’s stock worth $3,025,000 after buying an additional 65 shares in the last quarter. Rakuten Securities Inc. raised its stake in shares of Palo Alto Networks by 8.4% in the fourth quarter. Rakuten Securities Inc. now owns 906 shares of the network technology company’s stock worth $165,000 after buying an additional 70 shares during the period. Finally, Quarry LP lifted its position in shares of Palo Alto Networks by 16.9% during the 4th quarter. Quarry LP now owns 511 shares of the network technology company’s stock valued at $93,000 after buying an additional 74 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PANW shares. KeyCorp reissued an “overweight” rating and issued a $220.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. JPMorgan Chase & Co. reduced their price objective on shares of Palo Alto Networks from $225.00 to $221.00 and set an “overweight” rating for the company in a research note on Wednesday, May 21st. Wells Fargo & Company raised their price objective on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an “overweight” rating in a research report on Wednesday, May 21st. TD Securities restated a “buy” rating and set a $230.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Finally, Northland Securities cut their price target on Palo Alto Networks from $210.00 to $177.00 and set a “market perform” rating for the company in a research note on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $208.00.

Palo Alto Networks Trading Up 1.3%

Palo Alto Networks stock opened at $199.60 on Monday. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $208.39. The firm has a 50-day moving average price of $180.48 and a 200-day moving average price of $184.92. The firm has a market capitalization of $133.09 billion, a PE ratio of 112.45, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the company posted $0.66 EPS. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Transactions at Palo Alto Networks

In related news, EVP Nir Zuk sold 100,000 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the sale, the executive vice president now owns 3,543,516 shares of the company’s stock, valued at $586,132,981.56. This represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the sale, the executive vice president now directly owns 321,774 shares of the company’s stock, valued at approximately $48,629,704.62. This represents a 27.29% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 789,736 shares of company stock worth $139,837,528. 2.50% of the stock is currently owned by company 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.