Calton & Associates Inc. Has $374,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Calton & Associates Inc. grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 59.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,094 shares of the network technology company’s stock after purchasing an additional 407 shares during the quarter. Calton & Associates Inc.’s holdings in Palo Alto Networks were worth $374,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Foundations Investment Advisors LLC increased its stake in shares of Palo Alto Networks by 9.7% in the 3rd quarter. Foundations Investment Advisors LLC now owns 26,207 shares of the network technology company’s stock valued at $8,958,000 after purchasing an additional 2,321 shares during the last quarter. Raleigh Capital Management Inc. grew its position in Palo Alto Networks by 11.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 351 shares of the network technology company’s stock worth $120,000 after acquiring an additional 35 shares during the last quarter. Evernest Financial Advisors LLC bought a new stake in Palo Alto Networks during the 3rd quarter worth $348,000. Community Financial Services Group LLC grew its position in Palo Alto Networks by 2.0% during the 3rd quarter. Community Financial Services Group LLC now owns 20,839 shares of the network technology company’s stock worth $7,123,000 after acquiring an additional 405 shares during the last quarter. Finally, Plimoth Trust Co. LLC bought a new stake in Palo Alto Networks during the 3rd quarter worth $1,100,000. Institutional investors own 79.82% of the company’s stock.

Insider Activity

In other news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total value of $64,682.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 351,452 shares of company stock valued at $118,643,279 over the last three months. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of PANW opened at $376.10 on Wednesday. The stock has a 50 day moving average price of $350.47 and a two-hundred day moving average price of $324.94. The firm has a market capitalization of $122.46 billion, a P/E ratio of 51.88, a P/E/G ratio of 5.43 and a beta of 1.13. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data 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 analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. On average, equities analysts forecast that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their price objective on Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Robert W. Baird boosted their price objective on Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Bank of America boosted their price objective on Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Finally, Scotiabank lifted their target price on Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Eleven 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $376.82.

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.