Quest Partners LLC Purchases 2,385 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Quest Partners LLC grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1,074.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,607 shares of the network technology company’s stock after buying an additional 2,385 shares during the quarter. Quest Partners LLC’s holdings in Palo Alto Networks were worth $891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Kathmere Capital Management LLC raised its holdings in Palo Alto Networks by 3.4% in the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after purchasing an additional 30 shares during the period. FLC Capital Advisors raised its holdings in Palo Alto Networks by 0.7% in the 3rd quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock worth $1,379,000 after purchasing an additional 30 shares during the period. Cromwell Holdings LLC raised its holdings in Palo Alto Networks by 3.0% in the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after purchasing an additional 30 shares during the period. Rosenberg Matthew Hamilton raised its holdings in Palo Alto Networks by 9.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock worth $119,000 after purchasing an additional 30 shares during the period. Finally, Geneva Partners LLC raised its holdings in Palo Alto Networks by 0.3% in the 3rd quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock worth $3,741,000 after purchasing an additional 30 shares during the period. 79.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Sanford C. Bernstein raised their price target on Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. BNP Paribas began coverage on Palo Alto Networks in a report on Tuesday, October 8th. They set an “outperform” rating and a $410.00 price target on the stock. KeyCorp raised their price target on Palo Alto Networks from $400.00 to $435.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, TD Cowen raised their price target on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $391.92.

Insider Activity

In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the sale, the executive vice president now owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. The trade was a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 10,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the sale, the director now directly owns 31,517 shares of the company’s stock, valued at $10,983,359.33. This represents a 24.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 254,252 shares of company stock valued at $89,041,637. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $392.89 on Thursday. Palo Alto Networks, Inc. has a 1 year low of $258.17 and a 1 year high of $408.53. The business has a 50 day simple moving average of $362.55 and a two-hundred day simple moving average of $338.41. The firm has a market capitalization of $127.92 billion, a PE ratio of 54.19, a price-to-earnings-growth ratio of 5.61 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Wednesday, November 20th. The network technology company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.08. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the previous year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. Equities research analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

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.