Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Garden State Investment Advisory Services LLC

Garden State Investment Advisory Services LLC grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 26.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,960 shares of the network technology company’s stock after acquiring an additional 409 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Palo Alto Networks were worth $664,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PANW. Pathway Financial Advisers LLC acquired a new stake in Palo Alto Networks during the first quarter worth approximately $25,000. Frank Rimerman Advisors LLC acquired a new stake in Palo Alto Networks during the 4th quarter worth $27,000. Financial Synergies Wealth Advisors Inc. raised its stake in Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after acquiring an additional 96 shares in the last quarter. Ulland Investment Advisors LLC acquired a new position in Palo Alto Networks in the first quarter valued at $30,000. Finally, Central Bank & Trust Co. grew its holdings in shares of Palo Alto Networks by 89.3% during the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity

In related news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the completion of the sale, the chief accounting officer now owns 24,982 shares in the company, valued at approximately $8,443,916. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $338.00, for a total transaction of $67,600.00. Following the sale, the chief accounting officer now directly owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lee Klarich sold 125,866 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $335.00, for a total transaction of $42,165,110.00. Following the completion of the transaction, the executive vice president now directly owns 166,542 shares of the company’s stock, valued at approximately $55,791,570. The disclosure for this sale can be found here. Insiders have sold 464,075 shares of company stock worth $154,029,567 over the last three months. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Stock Up 2.0 %

Shares of PANW stock opened at $340.12 on Friday. Palo Alto Networks, Inc. has a fifty-two week low of $224.64 and a fifty-two week high of $380.84. The business has a fifty day simple moving average of $336.39 and a 200-day simple moving average of $313.18. The stock has a market cap of $110.74 billion, a P/E ratio of 49.44, a P/E/G ratio of 5.04 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating the consensus estimate 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 business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the business earned $0.80 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. KeyCorp upped their target price on Palo Alto Networks from $380.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Northland Securities raised their target price on shares of 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. The Goldman Sachs Group lifted their target price on shares of Palo Alto Networks from $330.00 to $376.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. DA Davidson increased their price target on shares of Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, Scotiabank lifted their price objective on shares of Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus target price of $366.08.

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.