Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Position Increased by Jmac Enterprises LLC

Jmac Enterprises LLC boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 9.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,538 shares of the network technology company’s stock after buying an additional 227 shares during the period. Jmac Enterprises LLC’s holdings in Palo Alto Networks were worth $867,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC boosted its position in shares of Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 41 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of Palo Alto Networks by 352.6% during the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL grew its holdings in shares of Palo Alto Networks by 177.4% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 55 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks during the first quarter worth $25,000. Finally, First PREMIER Bank lifted its holdings in shares of Palo Alto Networks by 48.4% during the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 31 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PANW has been the topic of several recent analyst reports. Redburn Atlantic downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $350.00 to $325.00 in a report on Thursday, July 18th. BMO Capital Markets boosted their price target on shares of Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Stifel Nicolaus increased their price objective on Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Citigroup lifted their target price on Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, Oppenheimer increased their price target on shares of Palo Alto Networks from $410.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $378.49.

Insider Activity

In related news, CEO Nikesh Arora sold 81,586 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 618,715 shares in the company, valued at $227,680,932.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the sale, the executive vice president now owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 255,252 shares of company stock worth $89,383,077. Insiders own 2.50% of the company’s stock.

Palo Alto Networks Trading Down 2.4 %

Shares of PANW stock opened at $376.00 on Thursday. The stock has a 50 day moving average of $353.98 and a two-hundred day moving average of $331.32. The company has a market capitalization of $122.43 billion, a P/E ratio of 53.13, a P/E/G ratio of 5.23 and a beta of 1.12. Palo Alto Networks, Inc. has a 12 month low of $234.15 and a 12 month high of $386.20.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. Sell-side analysts predict that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal 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.