Everhart Financial Group Inc. Has $927,000 Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Everhart Financial Group Inc. raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,735 shares of the network technology company’s stock after buying an additional 302 shares during the quarter. Everhart Financial Group Inc.’s holdings in Palo Alto Networks were worth $927,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Catalina Capital Group LLC raised its position in shares of Palo Alto Networks by 9.1% during the second quarter. Catalina Capital Group LLC now owns 1,315 shares of the network technology company’s stock worth $446,000 after purchasing an additional 110 shares during the period. Secure Asset Management LLC lifted its stake in shares of Palo Alto Networks by 52.5% in the second quarter. Secure Asset Management LLC now owns 3,273 shares of the network technology company’s stock valued at $1,110,000 after buying an additional 1,127 shares in the last quarter. Capital Wealth Alliance LLC grew its holdings in shares of Palo Alto Networks by 188.9% during the second quarter. Capital Wealth Alliance LLC now owns 2,641 shares of the network technology company’s stock valued at $895,000 after buying an additional 1,727 shares during the last quarter. Cornerstone Wealth Group LLC increased its position in shares of Palo Alto Networks by 6.2% during the second quarter. Cornerstone Wealth Group LLC now owns 12,516 shares of the network technology company’s stock worth $4,243,000 after acquiring an additional 732 shares in the last quarter. Finally, New York State Teachers Retirement System raised its holdings in shares of Palo Alto Networks by 4.3% in the 2nd quarter. New York State Teachers Retirement System now owns 302,760 shares of the network technology company’s stock worth $102,639,000 after acquiring an additional 12,555 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Stock Performance

Palo Alto Networks stock traded up $1.27 during midday trading on Friday, reaching $350.75. 3,415,364 shares of the stock were exchanged, compared to its average volume of 4,430,739. Palo Alto Networks, Inc. has a 52 week low of $224.64 and a 52 week high of $380.84. The firm has a market cap of $113.57 billion, a PE ratio of 50.98, a PEG ratio of 4.40 and a beta of 1.14. The company’s fifty day moving average is $330.16 and its 200-day moving average is $311.49.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company earned $0.80 earnings per share. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PANW has been the subject of a number of analyst reports. JMP Securities reiterated a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a research note on Tuesday. BMO Capital Markets upped their price target on Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a report on Tuesday. Susquehanna increased their price target on Palo Alto Networks from $325.00 to $340.00 and gave the company a “positive” rating in a research report on Tuesday, May 21st. Needham & Company LLC lifted their price objective on shares of Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Wedbush reiterated an “outperform” rating and issued a $375.00 target price on shares of Palo Alto Networks in a report on Friday, August 16th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $363.49.

Insider Activity

In related news, EVP Lee Klarich sold 125,866 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $335.00, for a total value of $42,165,110.00. Following the transaction, the executive vice president now owns 166,542 shares of the company’s stock, valued at $55,791,570. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Palo Alto Networks news, EVP Lee Klarich sold 125,866 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $335.00, for a total transaction of $42,165,110.00. Following the transaction, the executive vice president now directly owns 166,542 shares in the company, valued at $55,791,570. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Josh D. Paul sold 200 shares of the business’s 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 completion of the sale, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at $8,443,916. The disclosure for this sale can be found here. In the last quarter, insiders have sold 366,372 shares of company stock worth $118,440,693. 3.30% of the stock is currently owned by corporate insiders.

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.