Ariadne Wealth Management LP Invests $515,000 in Palo Alto Networks, Inc. (NASDAQ:PANW)

Ariadne Wealth Management LP bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the second quarter, Holdings Channel reports. The fund bought 1,520 shares of the network technology company’s stock, valued at approximately $515,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PANW. Aveo Capital Partners LLC acquired a new position in Palo Alto Networks in the fourth quarter worth approximately $212,000. Jones Financial Companies Lllp lifted its holdings in shares of Palo Alto Networks by 14.0% during the fourth quarter. Jones Financial Companies Lllp now owns 545 shares of the network technology company’s stock valued at $161,000 after acquiring an additional 67 shares during the period. CWA Asset Management Group LLC acquired a new stake in shares of Palo Alto Networks in the fourth quarter valued at $418,000. Cornerstone Advisory LLC acquired a new stake in shares of Palo Alto Networks in the fourth quarter valued at $297,000. Finally, Peapack Gladstone Financial Corp increased its stake in shares of Palo Alto Networks by 9.8% in the fourth quarter. Peapack Gladstone Financial Corp now owns 3,093 shares of the network technology company’s stock valued at $912,000 after buying an additional 276 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $341.80 on Tuesday. The firm’s 50-day moving average is $337.28 and its 200-day moving average is $315.91. The stock has a market cap of $110.67 billion, a price-to-earnings ratio of 49.68, a PEG ratio of 4.98 and a beta of 1.13. Palo Alto Networks, Inc. has a 52-week low of $230.09 and a 52-week high of $380.84.

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

Analysts Set New Price Targets

A number of brokerages recently commented on PANW. UBS Group lifted their price objective on Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Wells Fargo & Company boosted their target price on Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group increased their price target on Palo Alto Networks from $330.00 to $376.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Sanford C. Bernstein increased their price objective on Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Finally, Bank of America raised their price target 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. Twelve research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $369.26.

Insiders Place Their Bets

In related news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at approximately $54,854,924.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the sale, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $54,854,924.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the completion of the transaction, the executive vice president now owns 1,187,567 shares in the company, valued at $377,373,165.59. The disclosure for this sale can be found here. In the last 90 days, insiders sold 359,732 shares of company stock worth $118,815,557. 3.30% of the stock is currently owned by insiders.

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.