Elmwood Wealth Management Inc. Acquires 501 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Elmwood Wealth Management Inc. grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 58.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,351 shares of the network technology company’s stock after purchasing an additional 501 shares during the quarter. Elmwood Wealth Management Inc.’s holdings in Palo Alto Networks were worth $462,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PANW. Sunbelt Securities Inc. grew its stake in Palo Alto Networks by 91.0% in the 1st quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock worth $478,000 after acquiring an additional 802 shares in the last quarter. Alpha Cubed Investments LLC grew its stake in Palo Alto Networks by 16.4% in the third quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock worth $79,149,000 after purchasing an additional 32,626 shares in the last quarter. Jennison Associates LLC increased its holdings in Palo Alto Networks by 7.6% during the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after purchasing an additional 198,078 shares during the period. Brookstone Capital Management raised its position in Palo Alto Networks by 48.4% during the 1st quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company’s stock valued at $7,502,000 after purchasing an additional 8,611 shares in the last quarter. Finally, Wealthspire Advisors LLC lifted its holdings in shares of Palo Alto Networks by 1.7% in the 1st quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock worth $1,244,000 after buying an additional 75 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Trading Down 0.5 %

Shares of Palo Alto Networks stock traded down $1.77 during trading hours on Monday, reaching $371.43. The stock had a trading volume of 484,844 shares, compared to its average volume of 4,062,939. The stock’s 50 day moving average is $342.20 and its 200 day moving average is $320.00. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $380.84. The firm has a market capitalization of $120.27 billion, a PE ratio of 54.11, a PEG ratio of 5.26 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. Palo Alto Networks’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PANW. Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. Morgan Stanley increased their price objective on shares of Palo Alto Networks from $390.00 to $421.00 and gave the company an “overweight” rating in a research note on Friday. Oppenheimer boosted their price objective on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. BMO Capital Markets increased their target price on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Finally, UBS Group boosted their price target on Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average target price of $372.28.

Insiders Place Their Bets

In other news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the completion of the sale, the executive vice president now owns 1,187,567 shares of the company’s stock, valued at $377,373,165.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $317.77, for a total value of $11,439,720.00. Following the transaction, the executive vice president now owns 1,187,567 shares in the company, valued at $377,373,165.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at $47,055,533.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 269,866 shares of company stock worth $88,620,447. Company insiders own 3.30% of the company’s stock.

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.