OVERSEA CHINESE BANKING Corp Ltd Boosts Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 181.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,410 shares of the network technology company’s stock after purchasing an additional 6,063 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Palo Alto Networks were worth $3,187,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Pathway Financial Advisers LLC purchased a new stake in shares of Palo Alto Networks during the first quarter worth about $25,000. Capital Advisors Ltd. LLC grew its stake in Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after acquiring an additional 41 shares during the period. Sound Income Strategies LLC raised its holdings in Palo Alto Networks by 352.6% in the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its stake in shares of Palo Alto Networks by 177.4% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 55 shares during the period. Finally, Cape Investment Advisory Inc. boosted its holdings in shares of Palo Alto Networks by 1,111.1% during the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

PANW has been the topic of a number of research analyst reports. Stifel Nicolaus raised their price target 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. Redburn Atlantic lowered shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $350.00 to $325.00 in a research report on Thursday, July 18th. Robert W. Baird increased their price target on shares of Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Rosenblatt Securities boosted their price objective on shares of Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $378.87.

Palo Alto Networks Stock Down 0.0 %

Shares of NASDAQ PANW opened at $398.02 on Wednesday. The stock’s 50 day moving average price is $355.84 and its two-hundred day moving average price is $333.78. Palo Alto Networks, Inc. has a 52-week low of $234.15 and a 52-week high of $400.69. The stock has a market capitalization of $129.60 billion, a P/E ratio of 54.90, a PEG ratio of 5.77 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results 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 business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business’s revenue 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, analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Insider Activity

In related news, CEO Nikesh Arora sold 81,586 shares of the 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction on 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the completion of the sale, the director now owns 41,517 shares in the company, valued at $14,175,564.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 255,252 shares of company stock valued at $89,383,077. Company insiders own 2.50% of the company’s stock.

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.