Investment Research & Advisory Group Inc. Has $518,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Investment Research & Advisory Group Inc. reduced its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,824 shares of the network technology company’s stock after selling 38 shares during the quarter. Investment Research & Advisory Group Inc.’s holdings in Palo Alto Networks were worth $518,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Frank Rimerman Advisors LLC acquired a new stake in shares of Palo Alto Networks in the fourth quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. grew its position in shares of Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 96 shares during the last quarter. Webster Bank N. A. grew its position in shares of Palo Alto Networks by 607.1% in the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 85 shares during the last quarter. Cedar Mountain Advisors LLC lifted its stake in shares of Palo Alto Networks by 87.0% in the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after buying an additional 47 shares during the period. Finally, Central Bank & Trust Co. lifted its stake 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 buying an additional 50 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PANW has been the subject of a number of analyst reports. Argus raised their price target on shares of Palo Alto Networks from $336.00 to $348.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. BMO Capital Markets raised their price target on shares of Palo Alto Networks from $327.00 to $334.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. Susquehanna raised their price target on shares of Palo Alto Networks from $325.00 to $340.00 and gave the stock a “positive” rating in a research note on Tuesday, May 21st. Daiwa Capital Markets began coverage on shares of Palo Alto Networks in a report on Wednesday, May 29th. They set an “outperform” rating and a $350.00 price objective for the company. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $360.00 price objective on shares of Palo Alto Networks in a report on Wednesday, June 12th. Twelve investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus target price of $326.29.

Insiders Place Their Bets

In other Palo Alto Networks news, Director Aparna Bawa sold 322 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total transaction of $99,820.00. Following the sale, the director now directly owns 3,767 shares of the company’s stock, valued at approximately $1,167,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the transaction, the executive vice president now directly owns 174,075 shares in the company, valued at approximately $46,659,063. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Aparna Bawa sold 322 shares of the business’s 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 owns 3,767 shares in the company, valued at $1,167,770. The disclosure for this sale can be found here. Insiders have sold 258,182 shares of company stock valued at $74,850,597 in the last three months. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Stock Down 0.5 %

PANW traded down $1.81 during trading on Friday, hitting $339.01. The company had a trading volume of 4,172,306 shares, compared to its average volume of 3,168,419. The company has a market capitalization of $109.77 billion, a PE ratio of 49.27, a PEG ratio of 5.22 and a beta of 1.10. Palo Alto Networks, Inc. has a one year low of $201.17 and a one year high of $380.84. The firm’s 50-day moving average price is $307.06 and its 200 day moving average price is $307.16.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the firm posted $0.38 EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. Sell-side analysts forecast that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

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.