Long Run Wealth Advisors LLC Has $3.73 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Long Run Wealth Advisors LLC lowered its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 9.2% in the third quarter, HoldingsChannel reports. The fund owned 10,912 shares of the network technology company’s stock after selling 1,101 shares during the period. Long Run Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $3,730,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kathmere Capital Management LLC lifted its stake in shares of Palo Alto Networks by 3.4% in the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock valued at $312,000 after purchasing an additional 30 shares during the period. FLC Capital Advisors lifted its stake in Palo Alto Networks by 0.7% in the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after buying an additional 30 shares during the period. Cromwell Holdings LLC lifted its stake in Palo Alto Networks by 3.0% in the third quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock valued at $357,000 after buying an additional 30 shares during the period. Rosenberg Matthew Hamilton grew its position in shares of Palo Alto Networks by 9.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock worth $119,000 after buying an additional 30 shares during the period. Finally, Geneva Partners LLC increased its stake in shares of Palo Alto Networks by 0.3% in the 3rd quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock valued at $3,741,000 after acquiring an additional 30 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PANW has been the subject of a number of analyst reports. DA Davidson boosted their price objective on shares of Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their price target on shares of Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Barclays raised their price objective on Palo Alto Networks from $370.00 to $410.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. JMP Securities reissued a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a research note on Monday. Finally, Robert W. Baird increased their price target on Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Eleven equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $378.49.

Palo Alto Networks Trading Up 1.4 %

PANW stock opened at $366.29 on Wednesday. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $384.00. The business’s 50 day simple moving average is $353.29 and its 200 day simple moving average is $330.94. The firm has a market capitalization of $119.26 billion, a PE ratio of 50.52, a PEG ratio of 5.26 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 earnings per share. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other news, CEO Nikesh Arora sold 81,586 shares of the business’s 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 in the company, valued at $227,680,932.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the completion of the transaction, the director now owns 31,517 shares in the company, valued at $10,983,359.33. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 255,252 shares of company stock valued at $89,383,077 in the last three months. 2.50% of the stock is currently owned by company insiders.

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.