Daymark Wealth Partners LLC Has $457,000 Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Daymark Wealth Partners LLC increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,676 shares of the network technology company’s stock after acquiring an additional 158 shares during the period. Daymark Wealth Partners LLC’s holdings in Palo Alto Networks were worth $457,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Portside Wealth Group LLC raised its holdings in Palo Alto Networks by 10.5% in the 1st quarter. Portside Wealth Group LLC now owns 1,841 shares of the network technology company’s stock worth $314,000 after acquiring an additional 175 shares during the period. Moss Adams Wealth Advisors LLC grew its position in shares of Palo Alto Networks by 21.7% in the first quarter. Moss Adams Wealth Advisors LLC now owns 1,578 shares of the network technology company’s stock valued at $269,000 after purchasing an additional 281 shares during the last quarter. Greystone Financial Group LLC grew its position in shares of Palo Alto Networks by 5.5% in the first quarter. Greystone Financial Group LLC now owns 9,662 shares of the network technology company’s stock valued at $1,649,000 after purchasing an additional 508 shares during the last quarter. Wesbanco Bank Inc. increased its stake in shares of Palo Alto Networks by 29.4% in the first quarter. Wesbanco Bank Inc. now owns 143,151 shares of the network technology company’s stock worth $24,427,000 after purchasing an additional 32,561 shares during the period. Finally, Outlook Wealth Advisors LLC lifted its position in shares of Palo Alto Networks by 2.2% during the 1st quarter. Outlook Wealth Advisors LLC now owns 3,957 shares of the network technology company’s stock worth $675,000 after purchasing an additional 84 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $195.95 on Wednesday. The company has a market cap of $130.66 billion, a price-to-earnings ratio of 110.39, a P/E/G ratio of 5.64 and a beta of 0.97. The stock’s fifty day moving average price is $181.56 and its two-hundred day moving average price is $185.03. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results 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. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 earnings per share. On average, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the business’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $195.14, for a total value of $23,567,838.36. Following the completion of the transaction, the executive vice president now directly owns 264,246 shares of the company’s stock, valued at approximately $51,564,964.44. The trade was a 31.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $193.36, for a total value of $19,336,000.00. Following the sale, the executive vice president now directly owns 3,343,516 shares in the company, valued at approximately $646,502,253.76. This represents a 2.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 789,736 shares of company stock valued at $139,837,528. Company insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on PANW shares. JMP Securities raised their target price on Palo Alto Networks from $208.00 to $212.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. UBS Group boosted their target price on shares of Palo Alto Networks from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Morgan Stanley cut their target price on shares of Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company increased their price target on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. Finally, Guggenheim restated a “sell” rating and set a $130.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $208.00.

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.