Hamilton Wealth LLC Has $5.59 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Hamilton Wealth LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 48.7% during the first quarter, Holdings Channel reports. The fund owned 19,655 shares of the network technology company’s stock after acquiring an additional 6,435 shares during the quarter. Palo Alto Networks comprises about 1.7% of Hamilton Wealth LLC’s holdings, making the stock its 18th biggest holding. Hamilton Wealth LLC’s holdings in Palo Alto Networks were worth $5,585,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Horizon Family Wealth Inc. grew its holdings in shares of Palo Alto Networks by 1.1% in the fourth quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock worth $726,000 after purchasing an additional 28 shares during the last quarter. MV Capital Management Inc. boosted its holdings in Palo Alto Networks by 37.2% in the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after acquiring an additional 29 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in Palo Alto Networks by 17.2% in the fourth quarter. Manchester Capital Management LLC now owns 204 shares of the network technology company’s stock valued at $60,000 after acquiring an additional 30 shares in the last quarter. Argonautica Private Wealth Management Inc. boosted its holdings in Palo Alto Networks by 2.3% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,527 shares of the network technology company’s stock valued at $450,000 after acquiring an additional 34 shares in the last quarter. Finally, Sepio Capital LP lifted its position in Palo Alto Networks by 3.7% during the fourth quarter. Sepio Capital LP now owns 944 shares of the network technology company’s stock valued at $278,000 after buying an additional 34 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW traded down $10.02 during mid-day trading on Friday, hitting $305.60. The stock had a trading volume of 3,524,599 shares, compared to its average volume of 2,378,765. The company has a 50 day moving average of $321.74 and a two-hundred day moving average of $312.22. Palo Alto Networks, Inc. has a twelve month low of $201.17 and a twelve month high of $380.84. The firm has a market cap of $98.95 billion, a PE ratio of 44.42, a PEG ratio of 4.16 and a beta of 1.14.

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

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,621 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total value of $497,517.32. Following the sale, the president now directly owns 20,501 shares of the company’s stock, valued at $6,292,166.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $293.31, for a total transaction of $10,559,160.00. Following the sale, the executive vice president now directly owns 1,259,567 shares of the company’s stock, valued at approximately $369,443,596.77. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President William D. Jenkins, Jr. sold 1,621 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total transaction of $497,517.32. Following the sale, the president now directly owns 20,501 shares in the company, valued at $6,292,166.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 428,591 shares of company stock valued at $137,275,079. 3.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on PANW. Susquehanna raised their price objective 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. JPMorgan Chase & Co. lifted their price target on Palo Alto Networks from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. BMO Capital Markets upped their target price 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. JMP Securities reissued a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Finally, Argus upped their price objective on Palo Alto Networks from $336.00 to $348.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $325.59.

Palo Alto Networks Company 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.