Parsons Capital Management Inc. RI Has $733,000 Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Parsons Capital Management Inc. RI grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 19.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,579 shares of the network technology company’s stock after purchasing an additional 413 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Palo Alto Networks were worth $733,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Palo Alto Networks by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock worth $8,129,800,000 after purchasing an additional 1,058,127 shares in the last quarter. Norges Bank acquired a new stake in Palo Alto Networks during the fourth quarter worth approximately $1,563,020,000. Northern Trust Corp increased its stake in Palo Alto Networks by 2.6% during the 3rd quarter. Northern Trust Corp now owns 3,430,299 shares of the network technology company’s stock worth $804,199,000 after acquiring an additional 86,995 shares during the period. Clearbridge Investments LLC raised its holdings in Palo Alto Networks by 1.0% in the 4th quarter. Clearbridge Investments LLC now owns 3,136,547 shares of the network technology company’s stock valued at $924,905,000 after acquiring an additional 30,013 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Palo Alto Networks by 83.1% during the 4th quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock valued at $771,643,000 after acquiring an additional 1,187,915 shares during the period. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Shares of PANW traded up $2.63 during trading hours on Friday, hitting $291.42. The stock had a trading volume of 2,246,512 shares, compared to its average volume of 3,487,617. Palo Alto Networks, Inc. has a 1-year low of $176.30 and a 1-year high of $380.84. The firm has a market capitalization of $94.16 billion, a P/E ratio of 45.53, a price-to-earnings-growth ratio of 3.96 and a beta of 1.19. The firm has a 50 day simple moving average of $287.61 and a 200-day simple moving average of $292.58.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Equities analysts predict that Palo Alto Networks, Inc. will post 2.77 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price target on shares of Palo Alto Networks in a research note on Wednesday, February 21st. Citigroup increased their target price on shares of Palo Alto Networks from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. KeyCorp decreased their price target on shares of Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Sanford C. Bernstein initiated coverage on shares of Palo Alto Networks in a research note on Thursday, January 18th. They issued an “outperform” rating for the company. Finally, Capital One Financial cut Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price target for the company. in a research note on Wednesday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $314.82.

Insiders Place Their Bets

In related news, President William D. Jenkins, Jr. sold 1,867 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $280.13, for a total value of $523,002.71. Following the transaction, the president now owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the sale, the chief accounting officer now owns 27,247 shares in the company, valued at approximately $7,629,160. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,867 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the transaction, the president now directly owns 25,812 shares in the company, valued at $7,230,715.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 167,917 shares of company stock worth $49,395,553. Insiders own 3.30% of the company’s stock.

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.