Calton & Associates Inc. Boosts Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Calton & Associates Inc. lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2,442.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,466 shares of the network technology company’s stock after purchasing an additional 16,779 shares during the period. Palo Alto Networks accounts for about 1.0% of Calton & Associates Inc.’s investment portfolio, making the stock its 19th biggest position. Calton & Associates Inc.’s holdings in Palo Alto Networks were worth $5,970,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Sunbelt Securities Inc. raised its holdings in shares of Palo Alto Networks by 91.0% in the 1st quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after purchasing an additional 802 shares in the last quarter. Alpha Cubed Investments LLC raised its stake in Palo Alto Networks by 16.4% in the third quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock worth $79,149,000 after buying an additional 32,626 shares in the last quarter. Jennison Associates LLC lifted its holdings in Palo Alto Networks by 7.6% during the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after buying an additional 198,078 shares during the period. Brookstone Capital Management boosted its position in Palo Alto Networks by 48.4% during the 1st quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company’s stock valued at $7,502,000 after acquiring an additional 8,611 shares in the last quarter. Finally, Wealthspire Advisors LLC boosted its position in Palo Alto Networks by 1.7% during the 1st quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock valued at $1,244,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $374.83 on Monday. The business has a 50 day simple moving average of $348.67 and a 200-day simple moving average of $323.39. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $380.84. The stock has a market capitalization of $121.37 billion, a PE ratio of 54.48, a price-to-earnings-growth ratio of 5.42 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the company posted $0.80 EPS. Palo Alto Networks’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Analysts Set New Price Targets

PANW has been the subject of a number of analyst reports. BNP Paribas initiated coverage on Palo Alto Networks in a research note on Tuesday, October 8th. They set an “outperform” rating and a $410.00 price objective for the company. UBS Group raised their price target on shares of Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. The Goldman Sachs Group raised their price objective on Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Wedbush reissued an “outperform” rating and issued a $375.00 price target on shares of Palo Alto Networks in a report on Friday, August 16th. Finally, Royal Bank of Canada upped their price objective on shares of Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $375.79.

Insider Transactions at Palo Alto Networks

In related news, CAO Josh D. Paul sold 200 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the sale, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the firm’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 directly owns 1,187,567 shares in the company, valued at $377,373,165.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 351,452 shares of company stock valued at $118,643,279 over the last ninety days. Insiders own 3.30% of the company’s stock.

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.