Signaturefd LLC Has $2.32 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Signaturefd LLC raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,784 shares of the network technology company’s stock after buying an additional 193 shares during the quarter. Signaturefd LLC’s holdings in Palo Alto Networks were worth $2,319,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PANW. Kathmere Capital Management LLC raised its position in Palo Alto Networks by 3.4% in the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after purchasing an additional 30 shares in the last quarter. FLC Capital Advisors raised its holdings in shares of Palo Alto Networks by 0.7% in the 3rd quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock worth $1,379,000 after buying an additional 30 shares in the last quarter. Cascade Investment Group Inc. lifted its position in shares of Palo Alto Networks by 2.9% during the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock worth $376,000 after buying an additional 31 shares during the period. Herbst Group LLC grew its position in Palo Alto Networks by 0.3% in the third quarter. Herbst Group LLC now owns 9,692 shares of the network technology company’s stock valued at $3,313,000 after acquiring an additional 31 shares during the period. Finally, First PREMIER Bank raised its stake in Palo Alto Networks by 48.4% during the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

PANW has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price on shares of Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group raised their price objective on shares of Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Oppenheimer boosted their target price on Palo Alto Networks from $410.00 to $450.00 and gave the stock an “outperform” rating in a report on Tuesday. Redburn Atlantic cut Palo Alto Networks from a “buy” rating to a “neutral” rating and dropped their price target for the company from $350.00 to $325.00 in a report on Thursday, July 18th. Finally, BMO Capital Markets lifted their price objective on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $376.82.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the transaction, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at $47,055,533.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks 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 transaction, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at $47,055,533.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 351,452 shares of company stock worth $118,643,279. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $376.10 on Wednesday. Palo Alto Networks, Inc. has a fifty-two week low of $233.81 and a fifty-two week high of $384.00. The company’s 50-day moving average is $350.47 and its 200-day moving average is $324.94. The firm has a market capitalization of $122.46 billion, a PE ratio of 51.88, a P/E/G ratio of 5.43 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results 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. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. Palo Alto Networks’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 EPS. As a group, analysts expect that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

Palo Alto Networks 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.