HBW Advisory Services LLC Has $308,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

HBW Advisory Services LLC reduced its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 20.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 909 shares of the network technology company’s stock after selling 234 shares during the quarter. HBW Advisory Services LLC’s holdings in Palo Alto Networks were worth $308,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC bought a new position in Palo Alto Networks during the first quarter valued at approximately $25,000. Frank Rimerman Advisors LLC bought a new position in shares of Palo Alto Networks in the fourth quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. raised 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 period. Ulland Investment Advisors LLC bought a new position in Palo Alto Networks during the first quarter worth $30,000. Finally, Central Bank & Trust Co. increased its position in Palo Alto Networks by 89.3% during the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after acquiring an additional 50 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

NASDAQ:PANW traded up $7.75 during trading hours on Tuesday, reaching $301.93. 3,216,819 shares of the stock were exchanged, compared to its average volume of 4,434,475. Palo Alto Networks, Inc. has a twelve month low of $201.17 and a twelve month high of $380.84. The firm has a 50 day moving average of $321.19 and a 200 day moving average of $311.66. The stock has a market cap of $97.76 billion, a PE ratio of 43.70, a PEG ratio of 4.16 and a beta of 1.14.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $360.00 target price on shares of Palo Alto Networks in a research report on Wednesday, June 12th. Sanford C. Bernstein lifted their price target on shares of 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 boosted their target price 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. Robert W. Baird lifted their price target on Palo Alto Networks from $340.00 to $360.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $375.00 price target on shares of Palo Alto Networks in a report on Tuesday, May 21st. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $325.59.

Insider Activity

In other news, EVP Lee Klarich sold 125,866 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $335.00, for a total value of $42,165,110.00. Following the completion of the sale, the executive vice president now owns 166,542 shares of the company’s stock, valued at approximately $55,791,570. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Lee Klarich sold 125,866 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $335.00, for a total value of $42,165,110.00. Following the completion of the sale, the executive vice president now owns 166,542 shares of the company’s stock, valued at approximately $55,791,570. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President William D. Jenkins, Jr. sold 1,621 shares of the 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 completion of the sale, the president now owns 20,501 shares in the company, valued at approximately $6,292,166.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 307,315 shares of company stock valued at $100,940,790. 3.30% of the stock is owned by insiders.

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.