Portside Wealth Group LLC Acquires 176 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Portside Wealth Group LLC lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 25.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 857 shares of the network technology company’s stock after purchasing an additional 176 shares during the quarter. Portside Wealth Group LLC’s holdings in Palo Alto Networks were worth $293,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in Palo Alto Networks by 34,318.2% during the 3rd quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock worth $1,113,948,000 after acquiring an additional 3,249,594 shares during the period. Vanguard Group Inc. grew its holdings in shares of Palo Alto Networks by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock worth $8,118,190,000 after purchasing an additional 1,002,239 shares in the last quarter. Swedbank AB bought a new position in shares of Palo Alto Networks in the first quarter worth $177,933,000. Altshuler Shaham Ltd increased its position in shares of Palo Alto Networks by 444,100.0% in the second quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock worth $150,520,000 after purchasing an additional 444,100 shares during the period. Finally, Congress Asset Management Co. acquired a new position in Palo Alto Networks in the third quarter valued at about $94,875,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Up 1.1 %

Shares of NASDAQ PANW opened at $391.40 on Friday. The firm has a market cap of $127.44 billion, a PE ratio of 53.99, a P/E/G ratio of 5.59 and a beta of 1.12. The company’s fifty day simple moving average is $355.13 and its 200 day simple moving average is $332.47. Palo Alto Networks, Inc. has a 12-month low of $234.15 and a 12-month high of $393.21.

Palo Alto Networks (NASDAQ:PANW) last released 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 net margin of 32.11% and a return on equity of 26.83%. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The business’s revenue was up 12.1% on a year-over-year basis. On average, equities analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

Insider Buying and Selling at Palo Alto Networks

In related news, Director Mary Pat Mccarthy sold 1,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $341.44, for a total value of $341,440.00. Following the transaction, the director now directly owns 41,517 shares in the company, valued at $14,175,564.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the sale, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the completion of the transaction, the director now owns 41,517 shares in the company, valued at $14,175,564.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 255,252 shares of company stock valued at $89,383,077. Company insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PANW shares. BTIG Research raised their target price on shares of Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. TD Cowen boosted their price objective on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Needham & Company LLC raised their target price on Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Westpark Capital reissued a “hold” rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. Finally, Robert W. Baird raised their price objective on Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average target price of $378.49.

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.