Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 11.1% during the third quarter, Holdings Channel.com reports. The fund owned 351 shares of the network technology company’s stock after acquiring an additional 35 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Palo Alto Networks were worth $120,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Sunbelt Securities Inc. lifted its stake in Palo Alto Networks by 91.0% during the first quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after buying an additional 802 shares in the last quarter. Alpha Cubed Investments LLC lifted its position in shares of Palo Alto Networks by 16.4% in the third quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock worth $79,149,000 after purchasing an additional 32,626 shares in the last quarter. Jennison Associates LLC grew its stake in Palo Alto Networks by 7.6% in the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after purchasing an additional 198,078 shares in the last quarter. Brookstone Capital Management grew its stake in shares of Palo Alto Networks by 48.4% in the 1st quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company’s stock valued at $7,502,000 after buying an additional 8,611 shares in the last quarter. Finally, Wealthspire Advisors LLC grew its position in Palo Alto Networks by 1.7% in the first 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 in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were 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 in the company, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other 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 completion of the sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the sale, the director now owns 31,517 shares of the company’s stock, valued at approximately $10,983,359.33. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 351,452 shares of company stock valued at $118,643,279 in the last quarter. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Scotiabank upped their target price 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. BTIG Research raised their price objective on shares of Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Rosenblatt Securities raised their price target on shares of Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Sanford C. Bernstein upped their price target on Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Finally, TD Cowen upped their target price on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. 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. According to data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus price target of $376.82.

Palo Alto Networks Trading Down 0.6 %

Shares of PANW stock opened at $376.10 on Wednesday. The stock has a market capitalization of $122.46 billion, a P/E ratio of 51.88, a PEG ratio of 5.43 and a beta of 1.13. The firm’s 50 day moving average is $350.47 and its 200 day moving average is $324.94. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last posted 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 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 period in the prior year, the company posted $0.80 EPS. On average, equities analysts predict 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.