Jacobs & Co. CA Purchases 368 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Jacobs & Co. CA increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,503 shares of the network technology company’s stock after acquiring an additional 368 shares during the quarter. Jacobs & Co. CA’s holdings in Palo Alto Networks were worth $3,552,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Frank Rimerman Advisors LLC bought a new position in shares of Palo Alto Networks in the fourth quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. increased its position in Palo Alto Networks by 3,200.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after buying an additional 96 shares during the period. Webster Bank N. A. increased its position in Palo Alto Networks by 607.1% in the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after buying an additional 85 shares during the period. Cedar Mountain Advisors LLC lifted its holdings in shares of Palo Alto Networks by 87.0% during the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after buying an additional 47 shares during the last quarter. Finally, Central Bank & Trust Co. boosted its position in shares of Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity

In related news, Director Aparna Bawa sold 322 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total transaction of $99,820.00. Following the completion of the transaction, the director now owns 3,767 shares in the company, valued at $1,167,770. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Palo Alto Networks news, Director Aparna Bawa sold 322 shares of Palo Alto Networks stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total transaction of $99,820.00. Following the transaction, the director now directly owns 3,767 shares in the company, valued at $1,167,770. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 800 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $300.21, for a total value of $240,168.00. Following the completion of the sale, the executive vice president now owns 166,542 shares of the company’s stock, valued at $49,997,573.82. The disclosure for this sale can be found here. Insiders sold a total of 258,182 shares of company stock valued at $74,850,597 in the last ninety days. 3.30% of the stock is owned by insiders.

Palo Alto Networks Trading Up 2.3 %

Shares of NASDAQ:PANW traded up $7.30 during trading on Tuesday, hitting $323.98. 592,013 shares of the company’s stock were exchanged, compared to its average volume of 4,850,584. Palo Alto Networks, Inc. has a 1-year low of $201.17 and a 1-year high of $380.84. The firm has a market cap of $104.90 billion, a P/E ratio of 46.74, a PEG ratio of 4.91 and a beta of 1.11. The firm has a 50-day moving average price of $302.73 and a two-hundred day moving average price of $306.33.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The firm’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS. As a group, research analysts predict that Palo Alto Networks, Inc. will post 2.94 EPS for the current year.

Wall Street Analyst Weigh In

PANW has been the topic of a number of research reports. Royal Bank of Canada dropped their target price on shares of Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 21st. Citigroup upped their price objective on shares of Palo Alto Networks from $335.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Susquehanna lifted their target price on Palo Alto Networks from $325.00 to $340.00 and gave the stock a “positive” rating in a research report on Tuesday, May 21st. Daiwa Capital Markets began coverage on Palo Alto Networks in a report on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 price target for the company. Finally, Evercore ISI decreased their price objective on Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating on the stock in a report on Tuesday, May 14th. Twelve equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $324.17.

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.