MONECO Advisors LLC Has $270,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

MONECO Advisors LLC raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 15.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 791 shares of the network technology company’s stock after purchasing an additional 104 shares during the quarter. MONECO Advisors LLC’s holdings in Palo Alto Networks were worth $270,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PANW. Alpha Cubed Investments LLC lifted its stake in shares of Palo Alto Networks by 16.4% in the 3rd quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock valued at $79,149,000 after acquiring an additional 32,626 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Palo Alto Networks by 7.6% in the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after acquiring an additional 198,078 shares during the last quarter. Wealthspire Advisors LLC lifted its stake in shares of Palo Alto Networks by 1.7% in 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 during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Palo Alto Networks by 3.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 196,700 shares of the network technology company’s stock valued at $67,232,000 after acquiring an additional 7,291 shares during the last quarter. Finally, Parsons Capital Management Inc. RI lifted its stake in shares of Palo Alto Networks by 4.5% in the 2nd quarter. Parsons Capital Management Inc. RI now owns 2,695 shares of the network technology company’s stock valued at $914,000 after acquiring an additional 116 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In related news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the transaction, the chief executive officer now owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mary Pat Mccarthy sold 10,000 shares of the firm’s 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. 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 a total of 315,252 shares of company stock valued at $107,138,877 over the last 90 days. 3.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Northland Securities raised their target price on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 20th. Oppenheimer raised their target price on Palo Alto Networks from $410.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Sanford C. Bernstein raised their target price 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. Wells Fargo & Company raised their target price on Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, Barclays raised their target price on Palo Alto Networks from $370.00 to $410.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Eleven 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. Based on data from MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus target price of $376.82.

Palo Alto Networks Stock Down 1.6 %

PANW stock opened at $359.51 on Thursday. The firm has a market cap of $117.06 billion, a PE ratio of 49.59, a P/E/G ratio of 5.31 and a beta of 1.13. The business has a 50 day moving average of $352.23 and a 200-day moving average of $328.16. Palo Alto Networks, Inc. has a 12-month low of $233.81 and a 12-month high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the business posted $0.80 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. On average, research analysts expect that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

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.