Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Angeles Wealth Management LLC

Angeles Wealth Management LLC grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 33.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,105 shares of the network technology company’s stock after purchasing an additional 279 shares during the quarter. Angeles Wealth Management LLC’s holdings in Palo Alto Networks were worth $375,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Coldstream Capital Management Inc. raised its position in Palo Alto Networks by 4.8% in the 2nd quarter. Coldstream Capital Management Inc. now owns 5,212 shares of the network technology company’s stock valued at $1,767,000 after purchasing an additional 241 shares during the last quarter. Gryphon Financial Partners LLC increased its stake in Palo Alto Networks by 23.0% in the second quarter. Gryphon Financial Partners LLC now owns 2,097 shares of the network technology company’s stock valued at $711,000 after purchasing an additional 392 shares during the period. Van Hulzen Asset Management LLC purchased a new stake in shares of Palo Alto Networks in the second quarter valued at about $256,000. Andra AP fonden boosted its stake in shares of Palo Alto Networks by 104.5% during the second quarter. Andra AP fonden now owns 100,600 shares of the network technology company’s stock worth $34,104,000 after buying an additional 51,400 shares during the period. Finally, Royal London Asset Management Ltd. grew its holdings in shares of Palo Alto Networks by 1.1% during the second quarter. Royal London Asset Management Ltd. now owns 138,901 shares of the network technology company’s stock worth $47,089,000 after buying an additional 1,464 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the completion of the sale, the chief accounting officer now directly owns 24,982 shares in the company, valued at approximately $8,443,916. 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 Palo Alto Networks stock in a transaction dated 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 transaction, the executive vice president now directly owns 166,542 shares of the company’s stock, valued at approximately $55,791,570. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Josh D. Paul sold 200 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the sale, the chief accounting officer now directly owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The disclosure for this sale can be found here. Insiders have sold a total of 464,075 shares of company stock worth $154,029,567 in the last quarter. 3.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PANW has been the subject of a number of recent research reports. Robert W. Baird increased 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. Morgan Stanley boosted their price objective on shares of Palo Alto Networks from $360.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Oppenheimer upped their price objective on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, Macquarie increased their price target on shares of Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $366.08.

Palo Alto Networks Trading Down 1.7 %

Palo Alto Networks stock opened at $341.77 on Thursday. The stock has a fifty day moving average price of $336.03 and a 200 day moving average price of $311.64. Palo Alto Networks, Inc. has a 52 week low of $224.64 and a 52 week high of $380.84. The firm has a market capitalization of $110.67 billion, a P/E ratio of 49.68, a PEG ratio of 4.89 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the firm posted $0.80 EPS. The company’s revenue was up 12.1% on a year-over-year basis. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 3.55 EPS for the current year.

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.