Creative Planning Has $33.91 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Creative Planning boosted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 99,203 shares of the network technology company’s stock after buying an additional 183 shares during the period. Creative Planning’s holdings in Palo Alto Networks were worth $33,908,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Wesbanco Bank Inc. boosted its position in shares of Palo Alto Networks by 2.9% during the third quarter. Wesbanco Bank Inc. now owns 55,282 shares of the network technology company’s stock worth $18,895,000 after buying an additional 1,533 shares during the period. Kathleen S. Wright Associates Inc. acquired a new position in Palo Alto Networks during the 3rd quarter worth approximately $88,000. Grove Bank & Trust grew its stake in shares of Palo Alto Networks by 18.4% during the 3rd quarter. Grove Bank & Trust now owns 251 shares of the network technology company’s stock worth $86,000 after acquiring an additional 39 shares in the last quarter. Elmwood Wealth Management Inc. raised its holdings in shares of Palo Alto Networks by 58.9% in the third quarter. Elmwood Wealth Management Inc. now owns 1,351 shares of the network technology company’s stock valued at $462,000 after purchasing an additional 501 shares during the last quarter. Finally, Fiduciary Alliance LLC bought a new stake in shares of Palo Alto Networks in the third quarter worth $541,000. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Down 0.4 %

Shares of PANW stock opened at $374.83 on Monday. The business has a fifty day simple moving average of $348.67 and a 200 day simple moving average of $323.39. The company has a market cap of $121.37 billion, a P/E ratio of 54.48, a P/E/G ratio of 5.42 and a beta of 1.13. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $380.84.

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

Analyst Ratings Changes

A number of research firms recently weighed in on PANW. The Goldman Sachs Group raised their target price on shares of Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Barclays lifted their target price on Palo Alto Networks from $370.00 to $410.00 and gave the company an “overweight” rating in a research report on Thursday. Wedbush reissued an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a research report on Friday, August 16th. Scotiabank boosted their price target on Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Robert W. Baird upped their price objective on Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $375.79.

Insider Transactions at Palo Alto Networks

In related news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 1,187,567 shares of the company’s stock, valued at $377,373,165.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total value of $11,439,720.00. Following the completion of the transaction, the executive vice president now directly owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 351,452 shares of company stock worth $118,643,279. Corporate insiders own 3.30% of the company’s stock.

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.