Reliant Investment Management LLC Has $5.82 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Reliant Investment Management LLC increased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 17,035 shares of the network technology company’s stock after purchasing an additional 40 shares during the quarter. Palo Alto Networks makes up 2.7% of Reliant Investment Management LLC’s investment portfolio, making the stock its 16th largest holding. Reliant Investment Management LLC’s holdings in Palo Alto Networks were worth $5,823,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC bought a new position in shares of Palo Alto Networks in the first quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. lifted its holdings in shares of Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after buying an additional 96 shares during the last quarter. Central Bank & Trust Co. boosted its position in shares of Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 50 shares during the period. Cape Investment Advisory Inc. grew its stake in shares of Palo Alto Networks by 1,111.1% in the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after acquiring an additional 100 shares during the last quarter. Finally, New England Capital Financial Advisors LLC increased its position in Palo Alto Networks by 833.3% during the first quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock worth $32,000 after acquiring an additional 100 shares during the period. Institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $295.93, for a total value of $17,755,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares in the company, valued at $47,055,533.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the transaction, the executive vice president now 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $295.93, for a total value of $17,755,800.00. Following the completion of the sale, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 269,866 shares of company stock worth $88,620,447. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Up 5.1 %

Palo Alto Networks stock opened at $355.13 on Wednesday. The company has a fifty day simple moving average of $338.26 and a 200 day simple moving average of $317.74. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $380.84. The company has a market cap of $114.99 billion, a P/E ratio of 51.62, a price-to-earnings-growth ratio of 4.82 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. Palo Alto Networks’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.80 earnings per share. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Analyst Upgrades and Downgrades

PANW has been the topic of several research analyst reports. Susquehanna raised their price target on shares of Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a research report on Thursday, September 5th. The Goldman Sachs Group boosted their price target on Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday. Northland Securities upped their price target on Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a report on Tuesday, August 20th. DA Davidson lifted their price objective on Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Robert W. Baird upped their target price 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. Eleven equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $371.50.

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.