Retirement Guys Formula LLC Acquires Shares of 4,077 Palo Alto Networks, Inc. (NASDAQ:PANW)

Retirement Guys Formula LLC acquired a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,077 shares of the network technology company’s stock, valued at approximately $1,158,000.

Other large investors have also recently made changes to their positions in the company. Frank Rimerman Advisors LLC bought a new stake in shares of Palo Alto Networks in the fourth quarter worth approximately $27,000. Webster Bank N. A. grew its stake 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 worth $29,000 after acquiring an additional 85 shares during the period. Financial Synergies Wealth Advisors Inc. grew its stake 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 worth $28,000 after acquiring an additional 96 shares during the period. Cedar Mountain Advisors LLC grew 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 worth $30,000 after acquiring an additional 47 shares during the period. Finally, ICA Group Wealth Management LLC bought a new stake in shares of Palo Alto Networks in the fourth quarter worth approximately $31,000. 79.82% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total value of $16,082,400.00. Following the transaction, the executive vice president now owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Josh D. Paul sold 200 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the transaction, the chief accounting officer now owns 24,982 shares in the company, valued at $8,443,916. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 362,525 shares of company stock valued at $110,064,607. 3.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PANW. Susquehanna raised their price objective on shares of Palo Alto Networks from $325.00 to $340.00 and gave the stock a “positive” rating in a report on Tuesday, May 21st. KeyCorp raised their price objective on shares of Palo Alto Networks from $355.00 to $384.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Sanford C. Bernstein raised their price objective on shares of Palo Alto Networks from $335.00 to $364.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Robert W. Baird raised their price objective on shares of Palo Alto Networks from $340.00 to $360.00 and gave the stock an “outperform” rating in a report on Thursday, June 27th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $360.00 price objective on shares of Palo Alto Networks in a report on Wednesday, June 12th. Twelve research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average price target of $326.29.

Palo Alto Networks Price Performance

Shares of PANW traded up $0.76 during midday trading on Thursday, hitting $341.20. The stock had a trading volume of 1,022,648 shares, compared to its average volume of 2,980,896. 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 $110.48 billion, a PE ratio of 49.59, a price-to-earnings-growth ratio of 5.21 and a beta of 1.14. The stock’s 50 day moving average is $310.13 and its 200 day moving average is $307.86.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share 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 the consensus estimate of $1.97 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal 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.