Patten Group Inc. Purchases 191 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Patten Group Inc. grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,070 shares of the network technology company’s stock after buying an additional 191 shares during the period. Patten Group Inc.’s holdings in Palo Alto Networks were worth $1,049,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC bought a new position in Palo Alto Networks during the first quarter worth about $25,000. First PREMIER Bank raised its position in shares of Palo Alto Networks by 48.4% in the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock valued at $32,000 after buying an additional 31 shares in the last quarter. Financial Synergies Wealth Advisors Inc. boosted its stake in shares of Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after buying an additional 96 shares during the period. Central Bank & Trust Co. grew its position in 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 buying an additional 50 shares in the last quarter. Finally, Cape Investment Advisory Inc. increased its stake in Palo Alto Networks by 1,111.1% during the 1st 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 period. Institutional investors own 79.82% of the company’s stock.

Insider Activity

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the 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 completion of the sale, the chief accounting officer now owns 24,782 shares in the company, valued at approximately $8,014,746.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the completion of the sale, the executive vice president now owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 269,866 shares of company stock worth $88,620,447 over the last quarter. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Up 2.2 %

Shares of NASDAQ PANW opened at $362.87 on Thursday. The firm has a market capitalization of $117.50 billion, a P/E ratio of 52.74, a P/E/G ratio of 4.82 and a beta of 1.13. The firm’s 50-day moving average price is $339.01 and its 200-day moving average price is $318.22. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly 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. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the company earned $0.80 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. Equities research analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PANW shares. Citigroup increased their target price on Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. KeyCorp boosted their target price on shares of Palo Alto Networks from $380.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Robert W. Baird increased their price target on shares of Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. DA Davidson upped their target price on 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, BMO Capital Markets lifted their price target on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $371.50.

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.