Azzad Asset Management Inc. ADV Sells 35 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Azzad Asset Management Inc. ADV lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,855 shares of the network technology company’s stock after selling 35 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Palo Alto Networks were worth $2,685,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sunbelt Securities Inc. raised its stake in shares of Palo Alto Networks by 91.0% during the 1st quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock worth $478,000 after purchasing an additional 802 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Palo Alto Networks by 7.6% during the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after purchasing an additional 198,078 shares in the last quarter. Brookstone Capital Management increased its holdings in shares of Palo Alto Networks by 48.4% during the 1st quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company’s stock worth $7,502,000 after acquiring an additional 8,611 shares during the last quarter. Wealthspire Advisors LLC increased its holdings in shares of Palo Alto Networks by 1.7% during the 1st quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock worth $1,244,000 after acquiring an additional 75 shares during the last quarter. Finally, Parsons Capital Management Inc. RI increased its holdings in shares of Palo Alto Networks by 4.5% during the 2nd quarter. Parsons Capital Management Inc. RI now owns 2,695 shares of the network technology company’s stock worth $914,000 after acquiring an additional 116 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PANW. Deutsche Bank Aktiengesellschaft boosted 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. JMP Securities reissued a “market outperform” rating and set a $380.00 target price on shares of Palo Alto Networks in a report on Tuesday, August 20th. Rosenblatt Securities boosted their target price on Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Wedbush reissued an “outperform” rating and set a $375.00 target price on shares of Palo Alto Networks in a report on Friday, August 16th. Finally, Robert W. Baird upped their price objective on Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Eleven analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $369.26.

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 $110.03 billion, a P/E ratio of 49.08, 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 earnings per share for the quarter, topping 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 company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the company posted $0.80 earnings per share. Palo Alto Networks’s revenue for the quarter was up 12.1% compared to the same quarter last year. 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 business’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at $8,014,746.62. 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. In related news, Director Mary Pat Mccarthy sold 1,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $323.41, for a total value of $64,682.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 269,866 shares of company stock worth $88,620,447. Company insiders own 3.30% of the company’s stock.

About Palo Alto Networks

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.