Alpha Cubed Investments LLC Increases Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Alpha Cubed Investments LLC increased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 16.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 231,566 shares of the network technology company’s stock after buying an additional 32,626 shares during the quarter. Palo Alto Networks makes up 3.5% of Alpha Cubed Investments LLC’s holdings, making the stock its 6th biggest position. Alpha Cubed Investments LLC owned about 0.07% of Palo Alto Networks worth $79,149,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PANW. Ossiam grew its holdings in Palo Alto Networks by 6.5% during the fourth quarter. Ossiam now owns 8,280 shares of the network technology company’s stock worth $2,442,000 after purchasing an additional 504 shares during the period. Elo Mutual Pension Insurance Co lifted its position in shares of Palo Alto Networks by 5.3% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 26,943 shares of the network technology company’s stock valued at $7,950,000 after buying an additional 1,344 shares during the last quarter. State of Tennessee Treasury Department boosted its stake in shares of Palo Alto Networks by 17.4% during the 4th quarter. State of Tennessee Treasury Department now owns 143,903 shares of the network technology company’s stock worth $42,434,000 after acquiring an additional 21,282 shares during the period. Regal Investment Advisors LLC increased its holdings in shares of Palo Alto Networks by 27.7% during the 4th quarter. Regal Investment Advisors LLC now owns 2,308 shares of the network technology company’s stock worth $681,000 after acquiring an additional 500 shares during the last quarter. Finally, MGO One Seven LLC increased its holdings in shares of Palo Alto Networks by 209.0% during the 4th quarter. MGO One Seven LLC now owns 21,720 shares of the network technology company’s stock worth $6,405,000 after acquiring an additional 14,690 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $337.94 on Tuesday. The stock’s 50 day moving average is $337.94 and its 200 day moving average is $317.39. Palo Alto Networks, Inc. has a one year low of $233.81 and a one year high of $380.84. The firm has a market cap of $109.42 billion, a P/E ratio of 49.12, a P/E/G ratio of 4.82 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS 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 company 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 firm posted $0.80 EPS. The company’s quarterly revenue was up 12.1% on a year-over-year basis. Equities analysts anticipate that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was 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 $8,014,746.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $317.77, for a total value of $11,439,720.00. Following the completion of the sale, the executive vice president now directly owns 1,187,567 shares of the company’s stock, valued at $377,373,165.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Josh D. Paul sold 200 shares of the stock in a transaction that occurred 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 owns 24,782 shares in the company, valued at approximately $8,014,746.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,866 shares of company stock valued at $88,620,447 in the last ninety days. 3.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on PANW. UBS Group lifted their price objective on shares of Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Bank of America lifted their target price on shares of Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Rosenblatt Securities upped their price target on shares of Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. KeyCorp raised their price objective on shares of Palo Alto Networks from $380.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, TD Cowen boosted their price objective on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $369.26.

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.