Quotient Wealth Partners LLC Raises Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Quotient Wealth Partners LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.0% in the third quarter, Holdings Channel.com reports. The fund owned 4,686 shares of the network technology company’s stock after acquiring an additional 138 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Palo Alto Networks were worth $1,602,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Kathmere Capital Management LLC boosted its holdings in shares of Palo Alto Networks by 3.4% in the second 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. Cascade Investment Group Inc. grew its position in shares of Palo Alto Networks by 2.9% during the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock worth $376,000 after buying an additional 31 shares in the last quarter. Herbst Group LLC increased its stake in shares of Palo Alto Networks by 0.3% during the third quarter. Herbst Group LLC now owns 9,692 shares of the network technology company’s stock valued at $3,313,000 after buying an additional 31 shares during the period. First PREMIER Bank raised its holdings in shares of Palo Alto Networks by 48.4% in the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock valued at $32,000 after acquiring an additional 31 shares in the last quarter. Finally, Sheets Smith Wealth Management lifted its stake in Palo Alto Networks by 2.4% in the first quarter. Sheets Smith Wealth Management now owns 1,479 shares of the network technology company’s stock worth $420,000 after acquiring an additional 34 shares during the period. Institutional investors own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.77, for a total value 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 approximately $377,373,165.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Monday, August 5th. The shares were sold at an average price of $295.93, for a total value of $17,755,800.00. Following the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 1,187,567 shares of the company’s stock, valued at approximately $377,373,165.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 269,866 shares of company stock worth $88,620,447. 3.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on PANW. Morgan Stanley boosted their price target on shares of Palo Alto Networks from $360.00 to $390.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. JMP Securities reissued a “market outperform” rating and issued a $380.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Northland Securities increased their target price on Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a research report on Tuesday, August 20th. Evercore ISI lifted their price target on Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $350.00 price objective on shares of Palo Alto Networks in a research note on Monday, August 19th. Eleven equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $371.50.

Palo Alto Networks Stock Up 1.6 %

Shares of PANW traded up $5.80 during mid-day trading on Thursday, reaching $368.67. The company had a trading volume of 978,322 shares, compared to its average volume of 4,083,969. The stock has a market capitalization of $119.38 billion, a P/E ratio of 53.08, a PEG ratio of 4.82 and a beta of 1.13. Palo Alto Networks, Inc. has a 52-week low of $233.81 and a 52-week high of $380.84. The stock has a 50 day moving average of $339.77 and a two-hundred day moving average of $318.54.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 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 return on equity of 26.83% and a net margin of 32.11%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS. On average, sell-side analysts expect that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

About Palo Alto Networks

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.