May Hill Capital LLC Takes $220,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

May Hill Capital LLC bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) during the 4th quarter, Holdings Channel reports. The institutional investor bought 1,210 shares of the network technology company’s stock, valued at approximately $220,000.

A number of other large investors have also added to or reduced their stakes in PANW. First Dallas Securities Inc. grew its holdings in shares of Palo Alto Networks by 1.4% in the third quarter. First Dallas Securities Inc. now owns 2,130 shares of the network technology company’s stock worth $728,000 after acquiring an additional 30 shares during the period. RB Capital Management LLC increased its position in shares of Palo Alto Networks by 1.5% during the 3rd quarter. RB Capital Management LLC now owns 2,492 shares of the network technology company’s stock valued at $852,000 after purchasing an additional 36 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in shares of Palo Alto Networks by 2.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,977 shares of the network technology company’s stock worth $676,000 after purchasing an additional 42 shares during the period. Zega Financial LLC boosted its holdings in shares of Palo Alto Networks by 0.8% in the third quarter. Zega Financial LLC now owns 5,997 shares of the network technology company’s stock worth $2,050,000 after buying an additional 48 shares during the last quarter. Finally, Dorsey Wright & Associates grew its position in Palo Alto Networks by 0.6% during the third quarter. Dorsey Wright & Associates now owns 9,853 shares of the network technology company’s stock valued at $3,368,000 after buying an additional 63 shares during the period. Institutional investors own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Scotiabank lifted their price target on shares of Palo Alto Networks from $200.00 to $225.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. UBS Group boosted their price target on Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, February 14th. KeyCorp raised their price objective on Palo Alto Networks from $217.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Loop Capital cut their price objective on Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Finally, Stephens began coverage on shares of Palo Alto Networks in a report on Tuesday. They set an “equal weight” rating and a $205.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $204.27.

Insider Buying and Selling

In other Palo Alto Networks news, CEO Nikesh Arora sold 235,492 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $183.32, for a total value of $43,170,393.44. Following the completion of the transaction, the chief executive officer now directly owns 1,086,404 shares in the company, valued at approximately $199,159,581.28. The trade was a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,976 shares in the company, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock valued at $204,315,811 over the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Trading Up 0.4 %

PANW opened at $171.31 on Wednesday. The business’s fifty day simple moving average is $187.01 and its 200-day simple moving average is $185.46. The company has a market capitalization of $113.42 billion, a price-to-earnings ratio of 96.51, a PEG ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a 12-month low of $132.50 and a 12-month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

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.