Lebenthal Global Advisors LLC Grows Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Lebenthal Global Advisors LLC raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,467 shares of the network technology company’s stock after purchasing an additional 163 shares during the period. Lebenthal Global Advisors LLC’s holdings in Palo Alto Networks were worth $1,185,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PANW. International Assets Investment Management LLC grew its stake in shares of Palo Alto Networks by 34,318.2% during the third 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. Vanguard Group Inc. boosted its position in Palo Alto Networks by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after acquiring an additional 1,002,239 shares in the last quarter. Swedbank AB bought a new stake in Palo Alto Networks during the 1st quarter valued at approximately $177,933,000. Altshuler Shaham Ltd boosted its position in Palo Alto Networks by 444,100.0% during the 2nd 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 in the last quarter. Finally, Congress Asset Management Co. bought a new stake in Palo Alto Networks during the 3rd quarter valued at approximately $94,875,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ PANW traded up $0.01 on Friday, reaching $360.34. 314,345 shares of the company’s stock traded hands, compared to its average volume of 3,925,431. The firm has a market cap of $117.33 billion, a price-to-earnings ratio of 49.45, a P/E/G ratio of 5.21 and a beta of 1.13. The stock has a 50 day moving average price of $352.45 and a 200-day moving average price of $328.38. Palo Alto Networks, Inc. has a fifty-two week low of $233.81 and a fifty-two week high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the company earned $0.80 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on PANW. Evercore ISI lifted their price objective on Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. JMP Securities reiterated a “market outperform” rating and set a $380.00 target price on shares of Palo Alto Networks in a report on Tuesday, August 20th. Northland Securities lifted their target price on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a report on Tuesday, August 20th. BTIG Research boosted their price objective on shares of Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, DA Davidson boosted their price objective on shares of Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $378.49.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 1,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the transaction, the director now directly owns 41,517 shares in the company, valued at $14,175,564.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Mary Pat Mccarthy sold 1,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 41,517 shares in the company, valued at approximately $14,175,564.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the sale, the executive vice president now owns 159,009 shares in the company, valued at approximately $47,055,533.37. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 315,252 shares of company stock valued at $107,138,877. Corporate 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.