Palo Alto Networks, Inc. (NASDAQ:PANW) Stake Raised by Pathstone Holdings LLC

Pathstone Holdings LLC lifted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,169 shares of the network technology company’s stock after purchasing an additional 453 shares during the quarter. Pathstone Holdings LLC’s holdings in Palo Alto Networks were worth $12,021,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kathmere Capital Management LLC raised its stake in Palo Alto Networks by 3.4% during the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock valued at $312,000 after purchasing an additional 30 shares during the period. FLC Capital Advisors raised its position in Palo Alto Networks by 0.7% during the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after acquiring an additional 30 shares in the last quarter. Cromwell Holdings LLC lifted its stake in shares of Palo Alto Networks by 3.0% in the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock valued at $357,000 after purchasing an additional 30 shares during the last quarter. Rosenberg Matthew Hamilton increased its holdings in shares of Palo Alto Networks by 9.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock valued at $119,000 after acquiring an additional 30 shares during the last quarter. Finally, Geneva Partners LLC raised its position in shares of Palo Alto Networks by 0.3% in the third quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock valued at $3,741,000 after purchasing an additional 30 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. TD Cowen raised their target price on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Northland Securities upped their target price on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company boosted their price objective on shares of Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Cantor Fitzgerald upgraded Palo Alto Networks to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Needham & Company LLC upped their target price on Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $391.92.

Palo Alto Networks Trading Up 1.2 %

Shares of Palo Alto Networks stock opened at $392.89 on Thursday. The company has a 50 day moving average of $362.55 and a 200-day moving average of $338.41. The company has a market cap of $127.92 billion, a PE ratio of 54.19, a price-to-earnings-growth ratio of 5.61 and a beta of 1.12. Palo Alto Networks, Inc. has a 1-year low of $258.17 and a 1-year high of $408.53.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Wednesday, November 20th. The network technology company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.08. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the prior year, the company earned $0.63 EPS. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. Research analysts forecast that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

Insider Buying and Selling

In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the transaction, the director now directly owns 31,517 shares of the company’s stock, valued at approximately $10,983,359.33. The trade was a 24.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares in the company, valued at $54,854,924.82. This trade represents a 27.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,252 shares of company stock worth $89,041,637 in the last 90 days. Insiders own 2.50% 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.