Palo Alto Networks, Inc. (NASDAQ:PANW) Position Raised by Capital Investment Advisors LLC

Capital Investment Advisors LLC increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,200 shares of the network technology company’s stock after purchasing an additional 220 shares during the period. Capital Investment Advisors LLC’s holdings in Palo Alto Networks were worth $1,435,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PANW. Sunbelt Securities Inc. increased its holdings in shares of Palo Alto Networks by 91.0% in the first quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after buying an additional 802 shares in the last quarter. Alpha Cubed Investments LLC lifted its holdings in shares of Palo Alto Networks by 16.4% in the third quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock valued at $79,149,000 after purchasing an additional 32,626 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Palo Alto Networks by 7.6% in the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after purchasing an additional 198,078 shares in the last quarter. Brookstone Capital Management lifted its holdings in shares of Palo Alto Networks by 48.4% in the first quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company’s stock valued at $7,502,000 after purchasing an additional 8,611 shares in the last quarter. Finally, Wealthspire Advisors LLC lifted its holdings in shares of Palo Alto Networks by 1.7% in the first quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock valued at $1,244,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Down 0.4 %

Shares of PANW opened at $374.83 on Monday. The stock has a market cap of $121.37 billion, a price-to-earnings ratio of 54.48, a P/E/G ratio of 5.42 and a beta of 1.13. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $380.84. The company has a 50-day moving average price of $348.67 and a two-hundred day moving average price of $323.39.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 earnings per share. Equities research analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PANW shares. Deutsche Bank Aktiengesellschaft increased their target price on Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Evercore ISI increased their target price on Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Robert W. Baird upped their price target on shares of Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Barclays upped their price target on shares of Palo Alto Networks from $370.00 to $410.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, DA Davidson upped their price target on shares of Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and an average target price of $375.79.

Insider Transactions at Palo Alto Networks

In other news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the sale, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 351,452 shares of company stock valued at $118,643,279. Corporate 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.