Gallacher Capital Management LLC Makes New $206,000 Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

Gallacher Capital Management LLC bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 724 shares of the network technology company’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC purchased a new stake in shares of Palo Alto Networks in the 4th quarter worth about $27,000. Webster Bank N. A. lifted its holdings in shares of Palo Alto Networks by 607.1% during 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. Financial Synergies Wealth Advisors Inc. boosted its position in shares of 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 purchasing an additional 96 shares in the last quarter. Cedar Mountain Advisors LLC grew its stake in shares of Palo Alto Networks by 87.0% in the 4th 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, Ulland Investment Advisors LLC bought a new position in Palo Alto Networks during the 1st quarter valued at approximately $30,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total value of $10,376,640.00. Following the transaction, the executive vice president now owns 1,295,567 shares of the company’s stock, valued at approximately $373,434,232.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total transaction of $10,376,640.00. Following the transaction, the executive vice president now directly owns 1,295,567 shares in the company, valued at approximately $373,434,232.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Aparna Bawa sold 322 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total value of $99,820.00. Following the completion of the sale, the director now owns 3,767 shares of the company’s stock, valued at $1,167,770. The disclosure for this sale can be found here. Insiders sold 428,391 shares of company stock worth $136,147,317 over the last 90 days. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock traded up $2.89 on Friday, reaching $333.93. The company had a trading volume of 582,549 shares, compared to its average volume of 4,650,974. The firm’s 50-day moving average price is $315.69 and its two-hundred day moving average price is $309.27. 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 $108.13 billion, a price-to-earnings ratio of 48.81, a P/E/G ratio of 5.16 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the business posted $0.38 earnings per share. The business’s revenue was up 15.3% compared to the same quarter last year. As a group, analysts anticipate that Palo Alto Networks, Inc. will post 2.94 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on PANW. Sanford C. Bernstein increased their target price on Palo Alto Networks from $335.00 to $364.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. BMO Capital Markets raised their price objective on shares of Palo Alto Networks from $327.00 to $334.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Wedbush reiterated an “outperform” rating and issued a $375.00 target price on shares of Palo Alto Networks in a research note on Tuesday, May 21st. JPMorgan Chase & Co. raised their price target on shares of Palo Alto Networks from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Finally, Royal Bank of Canada cut their target price on Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. Twelve equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $326.29.

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.