Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Cassaday & Co Wealth Management LLC

Cassaday & Co Wealth Management LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,754 shares of the network technology company’s stock after purchasing an additional 46 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Palo Alto Networks were worth $600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in shares of Palo Alto Networks by 34,318.2% during the 3rd quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after buying an additional 3,249,594 shares during the last quarter. Swedbank AB purchased a new position in Palo Alto Networks during the first quarter valued at approximately $177,933,000. Altshuler Shaham Ltd lifted its holdings in Palo Alto Networks by 444,100.0% in the second quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock valued at $150,520,000 after acquiring an additional 444,100 shares during the period. Congress Asset Management Co. purchased a new stake in Palo Alto Networks in the 3rd quarter worth approximately $94,875,000. Finally, Legal & General Group Plc boosted its position in Palo Alto Networks by 8.5% in the 2nd quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock worth $1,099,564,000 after purchasing an additional 255,060 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the transaction, the chief executive officer now owns 618,715 shares in the company, valued at approximately $227,680,932.85. This trade represents a 11.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the sale, the executive vice president now owns 1,115,567 shares in the company, valued at $370,926,027.50. The trade was a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,252 shares of company stock worth $89,041,637 in the last ninety days. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks Trading Down 0.0 %

PANW opened at $386.83 on Tuesday. The firm has a market cap of $125.95 billion, a price-to-earnings ratio of 53.36, a PEG ratio of 5.61 and a beta of 1.12. The stock’s 50-day moving average price is $360.72 and its 200 day moving average price is $337.38. Palo Alto Networks, Inc. has a 12-month low of $249.56 and a 12-month high of $408.53.

Palo Alto Networks (NASDAQ:PANW) last posted 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. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the firm posted $0.80 earnings per share. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, research analysts forecast that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

Analysts Set New Price Targets

PANW has been the subject of several recent research reports. OTR Global reaffirmed a “negative” rating on shares of Palo Alto Networks in a report on Thursday, November 7th. Citigroup upped their price objective on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Robert W. Baird raised their target price on Palo Alto Networks from $385.00 to $425.00 and gave the company an “outperform” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lifted their price target on Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, TD Cowen boosted their price objective on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average price target of $390.39.

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.