Global Wealth Management Investment Advisory Inc. Grows Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Global Wealth Management Investment Advisory Inc. raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.0% in the 3rd quarter, Holdings Channel reports. The firm owned 7,072 shares of the network technology company’s stock after purchasing an additional 70 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Palo Alto Networks were worth $2,417,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC raised 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 acquiring an additional 3,249,594 shares in the last quarter. Vanguard Group Inc. increased its holdings 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 worth $8,118,190,000 after purchasing an additional 1,002,239 shares during the period. Swedbank AB bought a new stake in Palo Alto Networks during the 1st quarter valued at $177,933,000. Altshuler Shaham Ltd lifted its holdings in shares of Palo Alto Networks by 444,100.0% in the 2nd quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock worth $150,520,000 after buying an additional 444,100 shares during the period. Finally, Congress Asset Management Co. bought a new position in shares of Palo Alto Networks during the 3rd quarter worth $94,875,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the completion of the transaction, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at $54,854,924.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the sale, the executive vice president now directly owns 159,009 shares in the company, valued at $54,854,924.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 10,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total value of $3,484,900.00. Following the sale, the director now owns 31,517 shares of the company’s stock, valued at approximately $10,983,359.33. This represents 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 quarter. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PANW shares. Rosenblatt Securities upped their price objective on shares of Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Citigroup upped their price target 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. Scotiabank lifted 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 report on Tuesday, August 20th. Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. Finally, UBS Group increased their target price on Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $378.49.

Palo Alto Networks Stock Up 1.2 %

Shares of PANW traded up $4.39 on Tuesday, reaching $365.51. The stock had a trading volume of 94,784 shares, compared to its average volume of 3,908,553. The firm has a 50-day moving average of $352.97 and a 200 day moving average of $330.32. The firm has a market capitalization of $119.01 billion, a PE ratio of 49.81, a PEG ratio of 5.26 and a beta of 1.12. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results 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 return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the business posted $0.80 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, sell-side analysts anticipate 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.