Lombard Odier Asset Management Europe Ltd Takes $2.41 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Lombard Odier Asset Management Europe Ltd bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,121 shares of the network technology company’s stock, valued at approximately $2,414,000.

Other institutional investors have also bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new position in shares of Palo Alto Networks during the 1st quarter valued at $25,000. Frank Rimerman Advisors LLC acquired a new stake in Palo Alto Networks in the fourth quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. increased its holdings in shares of Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 96 shares in the last quarter. Ulland Investment Advisors LLC acquired a new position in shares of Palo Alto Networks during the first quarter worth approximately $30,000. Finally, Central Bank & Trust Co. lifted its holdings in shares of Palo Alto Networks by 89.3% in the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PANW. Needham & Company LLC upped their price objective on shares of Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Morgan Stanley upped their target price on shares of Palo Alto Networks from $360.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Oppenheimer lifted their price target on Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. 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 note on Friday, August 16th. Finally, Citigroup lifted their target price on Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Thirteen 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 data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $366.08.

Palo Alto Networks Trading Up 1.2 %

Palo Alto Networks stock opened at $344.17 on Tuesday. The firm has a 50 day simple moving average of $336.46 and a 200 day simple moving average of $313.98. Palo Alto Networks, Inc. has a 1-year low of $224.64 and a 1-year high of $380.84. The firm has a market capitalization of $111.44 billion, a price-to-earnings ratio of 50.02, a P/E/G ratio of 5.04 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 3.55 EPS for the current year.

Insider Activity

In other news, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $338.00, for a total value of $67,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,982 shares in the company, valued at $8,443,916. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $338.00, for a total transaction of $67,600.00. Following the sale, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $341.44, for a total transaction of $341,440.00. Following the completion of the transaction, the director now directly owns 41,517 shares of the company’s stock, valued at $14,175,564.48. 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 over the last ninety days. Company insiders own 3.30% of the company’s stock.

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.