Snider Financial Group Acquires 99 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Snider Financial Group lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 8,462 shares of the network technology company’s stock after acquiring an additional 99 shares during the period. Snider Financial Group’s holdings in Palo Alto Networks were worth $2,892,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Zions Bancorporation N.A. raised its holdings in Palo Alto Networks by 9.3% during the 3rd quarter. Zions Bancorporation N.A. now owns 16,316 shares of the network technology company’s stock worth $5,577,000 after purchasing an additional 1,387 shares during the last quarter. Huntington National Bank increased its position in shares of Palo Alto Networks by 12.4% during the 3rd quarter. Huntington National Bank now owns 223,310 shares of the network technology company’s stock worth $76,327,000 after purchasing an additional 24,559 shares during the last quarter. ROI Financial Advisors LLC increased its position in Palo Alto Networks by 0.7% during the third quarter. ROI Financial Advisors LLC now owns 13,597 shares of the network technology company’s stock worth $4,647,000 after buying an additional 89 shares during the last quarter. Plato Investment Management Ltd raised its holdings in Palo Alto Networks by 1.4% in the 3rd quarter. Plato Investment Management Ltd now owns 4,813 shares of the network technology company’s stock valued at $1,643,000 after acquiring an additional 65 shares during the period. Finally, Schrum Private Wealth Management LLC increased its position in shares of Palo Alto Networks by 12.1% in the third quarter. Schrum Private Wealth Management LLC now owns 4,798 shares of the network technology company’s stock worth $1,640,000 after purchasing an additional 516 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on PANW. Scotiabank increased their price objective on shares of Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company increased their target price on shares of Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Citigroup boosted their target price 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. Needham & Company LLC upped their price objective on Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $378.87.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $404.88 on Thursday. Palo Alto Networks, Inc. has a 1 year low of $234.15 and a 1 year high of $408.53. The firm has a 50-day simple moving average of $357.82 and a two-hundred day simple moving average of $335.01. The company has a market cap of $131.83 billion, a P/E ratio of 55.50, a PEG ratio of 5.77 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (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 revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.80 earnings per share. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $341.44, for a total value of $341,440.00. Following the completion of the transaction, the director now owns 41,517 shares in the company, valued at $14,175,564.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the business’s 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 transaction, the chief executive officer now owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $341.44, for a total transaction of $341,440.00. Following the sale, the director now directly owns 41,517 shares in the company, valued at approximately $14,175,564.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,252 shares of company stock valued at $89,383,077 over the last ninety days. 2.50% of the stock is currently owned by insiders.

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.